MANITOU Announces Q1 2024 Financial Results

MANITOU reported a 3% increase in revenues for the first quarter of 2024, raising total sales to €685 million. This growth, consistent with the same period last year, was achieved despite a slowdown in market dynamics. The company also noted a significant decrease in order intake on equipment from €455 million in Q1 2023 to €186 million in Q1 2024, and a reduced order book of €1,878 million, almost half of last year's €3,414 million.

The slight revenue growth was most pronounced in its Northern Europe operations, which saw an 8% increase, while the Americas faced a 9% decline. Despite these mixed results, MANITOU maintains its forecast for stable overall revenues and a recurring operating profit above 6.5% for the year 2024. The unchanged performance of the Services & Solutions Division, with revenues holding at €103 million, reflects the broader low activity levels across the markets.