Manitou posted full-year 2021 revenues of €1.875 billion compared to €1.585 billion for the full year 2020, an 18.3 year-over-year increase. In the fourth quarter, revenues were €473 million compared to €432 million in 2020, a 9.5-percent jump.
Northern Europe was Manitou’s best performing region. In the fourth quarter, revenues rose 17 percent; for the full year the increase was a dramatic 28 percent. Southern Europe increased 2 percent in the fourth quarter, 8 percent for the full year. In the Americas, the increase was a modest 2 percent in the fourth quarter but a strong 13 percent for the full year. And Asia Pacific jumped 23 percent in the fourth quarter and 25 percent for the full year. Total revenue was about four times as high in Northern Europe.
“The group closed the year with an 18-percent increase in turnover compared to 2020,” said Michel Denis, Manitou CEO. “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 order book with an all-time high of €3 billion. The industrial organizations 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 percent compared to 2021.”
Manitou is based in Ancenis, France, with U.S. headquarters in West Bend, Wis.