Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

Sign up Log in

Manitou Group Earnings Release 2011

Apr 26, 2011

1503_10-q_2011-04-26_7b65f9af-3072-4e27-87aa-a4c1c505718c.pdf

Earnings Release

Open in viewer

Opens in your device viewer

Q1'11 Revenue

Jean-Christophe Giroux – CEOHervé Rochet - CFO

Highlights

  • •Revenue of €226m, up 64% year-on-year
  • •Sequential growth vs. Q4'10 +10%; orders +19%
  • •Backlog at March 31 > 10,000 units +38% vs. Dec.31
  • •Very difficult operational ramp-up from suppliers
  • •…with Japansituation yet yet-to-be assessed be
  • •Disrupted plants impacting worforce and dealers
  • •But intact ambitions and objectives…
  • •…with continuing adaptation to context

Increasing Demand & Tensions

2010 – 2011 Evolution

1
y
e
a
r
é
S
i
l
t
q
u
e
n
a		 F
r
a
n
c
e		 E
u
r
o
p
e
l
F
e
c
r
a
n
c
e
x		 A
i
m
e
r
c		 R
f
t
e
s
o
h
t
e
l
d
W
o
r		 l
T
t
o
a
R
T
H		 4
6
%
+
2
3
%
+		 8
9
%
+
1
7
%
+		 7
9
%
+
1
0
%
-		 2
5
%
+
1
2
%
-		 6
5
%
+
1
3
%
+
I
M
H		 2
%
4
+
6
%
-		 2
%
1
+
3
%
+		 3
%
5
+
3
%
-		 6
0
%
+
%
5
+		 3
6
%
+
3
%
-
C
E		 6
%
1
5
+
3
3
%
+		 2
%
7
+
2
2
%
-		 3
8
%
1
+
1
9
%
+		 6
3
%
+
1
1
%
-		 9
%
5
+
5
%
+
l
T
t
o
a		 4
5
%
+
3
%
1
+		 7
6
%
+
2
%
1
+		 1
1
8
%
+
0
%
1
+		 3
4
%
+
%
1
1
-		 6
4
%
+
0
%
1
+

Better balance for CE / Americas

Q1 Revenue Matrix

R
Q
2
0
0
1
1
e
v
e
n
u
e		 R
Q
2
0
1
1
1
e
v
e
n
u
e
F
r.		 E
r.
u		 A
m		 R
W
o		 T
t
o		 €
m
%
t
t
o		 F
r.		 E
r.
u		 A
m		 R
W
o		 T
t
o
4
1		 5
5		 5 1
5		 1
1
6		 R
T
H		 6
1		 1
0
4		 9 1
9		 1
9
2
2
6
%		 3
%
4		 3
%		 9
%		 2
%
7		 2
3
%		 3
%
4		 3
%		 %
7		 2
%
7
1
7		 6 1 2 2
5		 I
M
H		 2
4		 7 1 2 3
4
1
1
%		 4
%		 0
%		 1
%		 1
5
%		 9
%		 4
%		 0
%		 1
%		 1
3
%
0 7 1
2		 2 2
1		 0 9 2
8		 4 4
1
0
%		 %
4		 %
7		 %
1		 3
%
1		 C
E		 0
%		 %
4		 %
7		 %
1		 %
1
5
5
8		 6
8		 1
7		 1
9		 1
6
2		 8
5		 1
1
9		 3
8		 2
5		 2
6
6
3
6
%		 4
2
%		 1
1
%		 1
1
%		 1
0
0
%		 T
t
o		 3
2
%		 4
2		 1
4
%		 9
%		 1
0
0
%

RTH: Rough Terrain Handling DivisionIMH: Industrial Material Handling DivisionCE: Compact Equipment Division

Backlog & Order Intake

R
T
H		 I M
H		 C
E
b
f
(
i
)
t
n
o
u
n
s		 Q
1		 Q
2		 Q
1		 Q
2		 Q
1		 Q
2
B
k
l
D
3
1
g
a
c
o
e
c
O
d
k
i
*
t
r
e
r
n
a
e
+
S
l
a
e
s
-
k
l
B
M
3
1
g
a
c
o
a
r		 4
2
4
2
,
4
4
1
1
,
3
0
6
4
,
5
6
0
7
,		 =
?
?		 1
7
5
3
,
2
3
4
5
,
3
6
1
7
,
2
3
7
1
,		 =
=
=		 1
3
9
2
,
2
0
4
7
,
6
6
1
5
,
2
2
3
3
,		 +
+
=
B
k
b
i
l
l
(
h
)
t
t
o
o
o
m
o
n
s
-
-		 4
3
m		 1
7
m		 3
1
m
i
i
*
D
l
f
d
k
t
t
e
a
o
o
r
e
r
n
a
e
:
S
l
i
t
e
a
s
o
n
a
y
R
k
i
f
k
t
t
g
e
-s
o
c
n
o
n
e
w
o
r
P
i
d
t
r
e
c
a
u
o
n
o
r
e
r
s
B
k
f
i
l
l
f
R
l
t
a
c
r
o
m
e
n
a
s		 +
+
+
+
+
+
+		 +
+
+
+
+		 + +
+		 +
+
+
+		 +
+
+
+
+
+
+

Volatility is higher on Supply than Demand

Gehl Combination Plans

  • • In the US:
  • Unified Sales & Marketing teams & processes…
  • … to manage all brands Manitou, Gehl, Mustang, EDGE
  • Merger between Gehl Co. & Manitou North America…
  • … into Manitou Americas, Inc.
  • • In Europe:
  • Merger of Gehl Europe into Manitou Deutschland
  • Re-assignment of all functions across Manitou entities

Merger Synergies now coming in force

ConExpo 2011

  • •Celebration of combined 3 brands 325 years
  • •Launch of Americas S&M + Manitou Group
  • •2 new vertical boom Skid Steer Loader

Q1'11| 26 April 2011Page 7

New MRT Hybrid Concept

  • •2150 Rotating Telescopic
  • •Focus on construction
  • •Mobility with thermic engine
  • •Static task with electric engine
  • •Low energy consumption
  • •Low pollution emission
  • •Noise reduction
  • •Introduced at Samoter (Verona)

New Step towards Environment-friendly machines

New Gehl/Mustang RT Series

  • •Home-grown new product range
  • •Replaces former Takeuchi OEM
  • •Construction, ag & earth-moving
  • •Complement/alternative to SSL
  • •Versatility on unstable ground
  • •Auto track tensioning
  • •5x5 Control Drive System
  • •Anti-Stall technology
  • •Immediate Launch in the US
  • •Launch in Europe/WW early 2012

Natural & expected Complement to Skidsteer Range

Dealers' News

•Operation status:

  • •Suffering from elongating lead time
  • •Rolling precaution orders thru Red Series
  • •Very low inventory level in all regions/brands
  • •Globally sustained financial condition
  • • SAVIM (south of France dealer) 'acquisition':
  • •Good management but poor shareholder…
  • •… resulting in bankrupcy risk despite potential
  • •Step-up by Manitou to protect customer base… till end-2012

Dealer muscle still our best asset

Operations Update

  • • Supply Chain under increasing stress
  • •WW bottlenecks for certain industrial situations
  • •New 'engines' regulations further increase complexity
  • • Japan situation yet-to-be assessed
  • •Prudent communication and no look-thru visibility
  • •WIP are smoothing out impact to date…
  • • Very difficult day-to-day environment
  • •For our workforce – with technical unemployment
  • •For our dealers & customers – with low predictability

Confirmed Outlook for 2011

Thank You for your attention

More from Manitou Group

Earnings Release 2026
Apr 28
Earnings Release 2026
Apr 28
Report Publication Announcement 2026
Apr 24
Report Publication Announcement 2026
Apr 24
Annual Report (ESEF) 2026
Apr 24
Board/Management Information 2026
Apr 23
Board/Management Information 2026
Apr 23
Board/Management Information 2026
Apr 11
Board/Management Information 2026
Apr 11
Environmental & Social Information 2026
Mar 11
View all filings →