AI assistant
Manitou Group — Earnings Release 2016
Apr 21, 2016
1503_10-q_2016-04-21_26fe8fb5-caa2-46a5-818d-3b4e90ccfe50.pdf
Earnings Release
Open in viewerOpens in your device viewer
Manitou: Q1 2016 Sales revenues
- ●Sales in Q1 of €312 million, a 3% decrease versus Q1 2015
- Order intake on equipment in Q1 of €307 million, a strong increase of +9% vs. Q1 2015
- Order backlog at the end of Q1 of €347 million, +5% vs. Q1 2015 and +16% vs. Q4 2015
- Continued acceleration of the MHA division
- Strong impact of the slowdown at rental companies in the US on the CEP division compared to an outstanding Q1 2015
April, 21, 2016, Ancenis – Michel Denis, President & CEO stated: "Business in the first quarter was in line with our objective for 2016. The slight decrease in sales revenue compared to Q1 2015 is not representative of the fundamentally improved trend that we're reporting in our order intake and backlog. Europe, which accounts for two thirds of the group's business, is doing well. It's now driven by its southern region, within which, France is also stimulated by the effects of the Macron law. The Americas region recorded the largest decrease which was the consequence of US rental companies full stop since Q3 2015, although they've recently made a modest comeback.
Therefore, we're confirming all of our objectives set for 2016."
| Sales by division | |||
|---|---|---|---|
| Q1 2015 | Q1 2016 | Change % | |
| MHA | 199.2 | 217.2 | 9% |
| CEP | 70.8 | 40.8 | ‐42% |
| S&S | 53.1 | 54.2 | 2% |
| Total | 323.1 | 312.2 | 3% |
Sales by region
| Q1 2015 | Q1 2016 | Change % | |
|---|---|---|---|
| Southern Europe | 89.1 | 132.5 | 49% |
| Northern Europe | 114.9 | 99.3 | ‐14% |
| Americas | 87.2 | 54.1 | ‐38% |
| APAM | 31.9 | 26.3 | ‐18% |
| Total | 323.1 | 312.2 | 3% |
/ Business review by division
The Material Handling and Access Division (MHA) realized first quarter sales of €217 million, an increase of +9% compared to Q1 2015.
In Europe, the construcon, agriculture and industrial markets remain dynamic, now more focused on Southern Europe.
The Compact Equipment Products Division (CEP) reported sales of €41 million, a ‐42% decrease compared to Q1 2015 and a ‐9% decrease compared to Q4 2015. Following several years of strong growth, the market for rental companies abruptly stopped since Q3 2015. Their modest comeback early this year only slightly offset that fundamental unfavorable effect compared to Q1 2015.
The Services and Solutions Division (S&S) reported an increase of +2% in its sales compared to Q1 2015, at €54 million. That division connues to organize its business while working on the launch of new services focused on the users.
ISIN code: FR0000038606
Indices: CAC Mid & Small, CAC Small, CAC All‐Tradable, CAC Industrials, CAC Ind. Engin., Enternext PEA PME 150
June 09, 2016: Shareholders' meeting
Manitou Group, world‐leader in all‐terrain material‐handling, designs, manufactures, distributes and services equipment for construcon, agriculture and the industries.
The group product ranges encompass: telehandlers, all‐terrain, semi‐industrial and industrial masted forkli㾀s, skidsteers, track loaders, arculated loaders, access play奙orms, truck‐mounted forkli㾀s, warehousing equipment and aachments.
Through its core brands, Manitou, Gehl, and Mustang, together with its internaonal network of 1,400 independent dealers, the group provides the best soluons delivering highest value for its customers.
Headquartered in France, the group registered in 2015 a revenue of €1.29 billion in 140 countries, and employs 3,200 people all commied to sasfying customers.