Manitou Group — Earnings Release 2021

Jan 27, 2022

Manitou Group: Q4 2021 Sales Revenues

• ● Q4 21 revenues of €473m, +9% vs. Q4 20
• ● Cumulative 12-month sales of €1,875m, +18% vs. 12-month sales 20, +18% like for like*
• ● Q4 21 order intake on equipment of €1,080m vs. €727m in Q4 20
• ● End of Q4 21 orderbook on equipment at €2,993m vs. €918m in Q4 20
• ● Continued supply chain pressures and price inflation
• ● Expected turnover growth of over 20% compared to 2021

/Ancenis, ²⁷ January ²⁰²² – Michel Denis, President and Chief Executive Officer, stated: "The group closed the year with an 18% increase in turnover compared to 2020. It is thanks to the commitment of all the teams that this performance has been achieved in a context of increased tensions on the supply chain.

All sectors, markets and customers also contributed to a strong acceleration in demand. In Q4, order intake reached a new high, as did the orderbook with an all-time high of €3 billion.

The industrial organisations are designed to meet the demand of our customers in an environment of supply chain pressures and price inflation.

In view of these factors, the group expects its turnover to grow by more than 20% compared to 2021."

In millions of euros	Quarter			Full-year period
	Q4 2020	Q4 2021	Var %	2020	2021	Var %
Product division	353	382	8%	1 285	1 535	19%
S&S	79	91	16%	300	340	13%
Total	432	473	9%	1 585	1 875	18%

Net sales by division

Net sales by region

In millions of euros	Quarter			Full-year period
	Q4 2020	Q4 2021	Var %	2020	2021	Var %
Southern Europe	155	158	2%	555	602	8%
Northern Europe	152	178	17%	584	750	28%
Americas	80	81	2%	296	335	13%
APAM	45	56	23%	150	188	25%
Total	432	473	9%	1 585	1 875	18%

* like-for-like basis, at constant scope and exchange rates :

- scope: there is no acquired or exiting company in 2020 and 2021

- application of the previous year's exchange rate to the current year's aggregates

/ Business review by division

The Product Division (combining the former MHA and CEP divisions) achieved quarterly sales of €382 million, up 8% on Q4 2020 and 19% year-on-year (+20% at constant exchange rates and scope). All operations focused on accelerating production rates and managing the supply chain in a disrupted context.

With revenues of €91 million, the Services & Solutions Division (S&S) recorded a 16% increase in activity compared to Q4 2020 and 13% over 12 months (+13% at constant exchange rates and scope). All of the division's activities recorded sustained growth rates in line with their own market dynamics.

ISIN code: FR0000038606 Indices: CAC ALL SHARES, CAC ALL-TRADABLE, CAC INDUSTRIALS, CAC MID & SMALL, CAC SMALL, EN FAMILY BUSINESS

Manitou Group is a worldwide reference in the handling, access platforms, and earthmoving. By improving workplace conditions, safety, and performance, our environment remains renewable and sustainable for mankind.

Through its 3 iconic brands—Manitou, Gehl, and Mustang by Manitou—the group develops, manufactures, and provides equipment and services for the construction, agriculture, and industrial markets.

March 3, 2022 (after market closing) 2021 Results

By constantly innovating its products & services, Manitou Group constantly adds value to exceed its stakeholders' expectations.

Always attuned to its customers via its expert network of over 1,050 dealers, the group continues to be true to its roots by keeping its headquarters in France. That focus, which powered sales to €1.9 billion in 2021, informs its talented worldwide team of 4,500 today whose passion ceaselessly motivates the group.

Warning regarding forward-looking items

This presentation may include forward-looking statements, which are based on current beliefs, expectations and assumptions, including without limitation assumptions regarding present and future business strategies and the business environment in which the Company operates, and involve known and unknown risk, uncertainties and other factors, which may cause actual results, performances or achievements, or industry results or other events, to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date of this presentation and the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements that this presentation may contain to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward looking statements are for illustrative purposes only. Recipients of this presentation are cautioned that forward-looking information and statements are not guarantees nor undertakings of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and beyond the control of the Company.