Manitou Group grew revenues 12 percent in 2007, with total sales of €1.26 billion (about U.S. $1.83 billion, at current exchange rates). The company has grown sales 65 percent during the past three years.
The continued strong increase was achieved despite production and delivery delays arising from difficulties in sourcing certain components.
Sales of rough-terrain forklifts jumped 9 percent to €857 million (U.S. $1.24 billion), with sales to the construction sector strong and sales to agricultural sector accelerating. The industrial forklift truck and warehouse equipment jumped 33 percent year over year to €89 million. Sales of access platforms leapt 40 percent to €88 million, while sales of spare parts grew 14 percent to €137 million. Service revenue jumped 34 percent to €31 million.
With a solid order book for the first half of 2008 and the sourcing of components being stabilized, Manitou is starting 2008 strong. It expects to grow consolidated sales revenue 10 percent in 2008 if it can achieve the following adjectives:
· Intensify its international presence in rough-terrain masted forklift trucks and telescopic forklift trucks;
· Press ahead with the renewal and expansion of its product ranges;
· Improve the sourcing of components to accompany the growth in business;
· Complete the reorganization programs initiated during the last two years.
Manitou will publish its complete fiscal year 2007 results Feb. 21.
Based in France, Manitou’s United States headquarters is in Waco, Texas.