MANITOU (EPA:MTU) - Manitou: Q4 2019 Sales Revenues

Transparency directive : regulatory news

30/01/2020 17:55

Manitou: Q4 2019 Sales Revenues

- Q4 19 revenues of EUR494m*, -6% vs. Q4 18, -7% like for like
- Cumulative 12-month sales of EUR2,094m, +11% vs. 18, +10% like for like*
- Q4 19 order intake on equipment of EUR483m vs. EUR629m in Q4 18 and EUR244m
  in Q3 19
- End of Q4 19 order book on equipment at EUR595m vs. EUR1,002m in Q4 18 and
  EUR526m in Q3 19
- Outlook for 2019 financial performance confirmed
- Outlook for a 2020 revenue down by around -10% compared to 2019

Ancenis, 30 January 2020 - Michel Denis, President and Chief Executive
Officer, stated: "The group ended the year 2019 with a revenue that exceeded
the 2 billion euro mark for the first time in its history, while strengthening
its global presence and market share.
The doubling of order intake in the fourth quarter compared to the previous
quarter gives the order book a depth of around 4 months of activity. We are
thus finding our optimal balance between our customers' delivery time
expectations and our suppliers' need for visibility in order to supply
ourselves in a fluid manner after the cyclical peak in delivery times that we
reached at the end of 2018.
In the fourth quarter, customer demand remained strong across all sectors. We
note, however, that in the construction sector, rentals continue to speak
positively on market dynamics, while maintaining a wait-and-see attitude with
regard to their investment decisions.
The gradual slowdown in the world economy, combined with uncertainties such as
the effects of Brexit or the US elections, lead us to anticipate a decline in
sales of around 10% in 2020 compared to 2019."

Sales by division

In million of euros       Quarter                    Full-year period
                  Q4 2018    Q4 2019     %         2018      2019     %

MHA                   364        333    -8%       1 294     1 456    13%
CEP                    88         81    -8%         314       328     5%
S&S                    72         80    12%         276       309    12%
Total                 523        494    -6%       1 884     2 094    11%

Sales by region
In million of euros       Quarter                     Full-year period
                  Q4 2018    Q4 2019     %           2018    2019     %

Southern Europe       161        152    -6%           579     677    17%
Northern Europe       208        187   -10%           756     813     8%
Americas              102        100    -1%           350     403    15%
APAM                   52         55     6%           199     201     1%
Total                 523        494    -6%         1 884   2 094    11%

* like for like, at constant scope and exchange rate:
- for 2019 acquisitions (Mawsley Machinery Ltd at the end of October 2019),
  subtraction of their contribution, from the date of their acquisition, to
  December 31, 2019. There is no exit in 2019. There is no acquisition nor exit
  in 2018.
- application of the prior year's exchange rate

Business review by division

The Material Handling & Access Division - (MHA) generated quarterly sales of
EUR333 million, down -8% compared with Q4 2018 and up +13% over 12 months (+12%
at constant exchange rates and scope).
Record level of activity.
Gradual adjustment of production capacity in view of the combination of slower
order intake and shorter delivery times.

The Compact Equipment Products Division - (CEP) achieved fourth-quarter sales
of EUR81 million, down -8% compared with Q4 2018 and up +5% over 12 months (+1%
at constant exchange rates and scope). Significant work has been carried out to
restore the Madison (SD) site in the US, which was blocked for six weeks due to
flooding, the impact of which will be covered by insurance.

With revenues of EUR80 million, the Services & Solutions Division - (S&S)
recorded a 12% increase in activity compared to Q4 2018 and a +12% increase
over 12 months (11% at constant exchange rates and scope of consolidation). The
highest growth in activity was achieved in the service operations that have
been reinforced over the last few years.

Appointment

Elisabeth Ausimour is appointed President, Material Handling and Access
Division and a member of the Group Executive Committee. A graduate of the EPF,
Elisabeth Ausimour began her career at Chantiers de l'Atlantique before joining
the Manitou group in 2005, where she successively held positions of
responsibility in purchasing and quality, then as Vice-President of the Aerial
Work Platforms Product Unit and more recently as Vice-President ERP
- Process redesign.

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

FORTHCOMING EVENTS

March 3, 2020 (after market closing)
2019 Revenues

Manitou Group is a global market leader in rough-terrain handling. It designs,
manufactures, distributes and services equipment for construction, agriculture
and the industry.

The Group's product ranges include all-terrain fixed, rotating and heavy-duty
telehandlers, all-terrain, semi-industrial and industrial masted forklifts,
wheeled or tracked skid-steer loaders, backhoe loaders, access platforms,
truck-mounted forklifts, warehousing equipment and attachments.

Through its iconic brands - Manitou, Gehl, and Mustang by Manitou - and its
network of 1,500 dealers worldwide, the Group offers the best solutions by
creating optimum value for its customers.

With its registered office in France, in 2019 the Group recorded a revenue of
EUR2.1 billion in 140 countries, and it employs 4,600 people all committed to
delivering customer satisfaction.

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MANITOU (EPA:MTU) - Manitou: Q4 2019 Sales Revenues

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