MANITOU (EPA:MTU) - Manitou: Q4 2020 Sales Revenues
Transparency directive : regulatory news
28/01/2021 17:45
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Manitou: Q4 2020 Sales Revenues
* Q4 20 revenues of EUR432m, -13% vs. Q4 19
* Cumulative 12-month sales of EUR1,585m, -24% vs. 2019, -24% like for like*
* Q4 20 order intake on equipment of EUR727m vs. EUR483m in Q4 19
* End of Q4 20 order book on equipment at EUR918m vs. EUR595m in Q4 19
* Outlook for a 2021 revenue up by around 10% compared to 2020
/Ancenis, 28 January 2021 - Michel Denis, President and Chief Executive
Officer, stated: "The group closes the year 2020 in line with revenues of
EUR1585 million slightly above our expectations and with a record order intake
in the last quarter. This sequence of recovery, much stronger than initially
anticipated, reflects the tremendous work of the teams and gives the group a
new impetus for 2021.
In the fourth quarter, customer requests accelerated month after month to end
with a magnitude previously unknown until December. All geographies and markets
were dynamic, including European and North American rental companies. We thus
ended the year with the second highest level of order book we have never
experienced before.
This increase in our backlog reinforces the group's commercial positioning. It
leads us to accelerate our production rates on all sites. This exercise will
involve our entire supply chain. However, the health context and economic
uncertainties could impact business in 2021.
Given this much more favorable context and these exogenous pressures, we
anticipate sales growth for 2021 of more than 10% over the previous year. "
Sales by division
In million of euros Quarter Full-year period
Q4 2019 Q4 2020 % 2019 2020 %
MHA 333 275 -18% 1 456 1 023 -30%
CEP 81 79 -2% 328 262 -20%
S&S 80 79 -2% 309 300 -3%
Total 494 432 -13% 2 094 1 585 -24%
Sales by region
In million of euros Quarter Full-year period
Q4 2019 Q4 2020 % 2019 2020 %
Southern Europe 152 155 2% 677 555 -18%
Northern Europe 187 152 -19% 814 584 -28%
Americas 100 80 -20% 403 296 -26%
APAM 55 45 -18% 201 150 -25%
Total 494 432 -13% 2 094 1 585 -24%
* like for like, at constant scope and exchange rate:
- scope : for 2019 acquisitions (Mawsley Machinery Ltd on October 29, 2019),
subtraction of their contribution, from January 1st, 2020, to the anniversary
date of their acquisition. There is no exit in 2019. There is no acquired
entity nor exit in 2020.
- application of the exchange rate of the previous year on the aggregates of
the current year.
/ Business review by division
The Material Handling & Access Division - (MHA) generated quarterly sales of
EUR275 million, down -18% compared with Q4 2019 and down -30% over 12 months
(-29% at constant exchange rates and scope).
The business recovery has been global. All operations were focused on
accelerating production rates and preparing for the group's new organization.
The Compact Equipment Products Division - (CEP) achieved fourth-quarter sales
of EUR79 million, down -2% compared with Q4 2019 and down -20% over 12 months
(-19% at constant exchange rates and scope). The recovery has affected all
markets, especially the North American rental market. The announcement of the
closure of the Waco site and the preparation of the group's new organizational
plan also strongly mobilized the teams.
With revenues of EUR79 million, the Services & Solutions Division - (S&S)
recorded a -2% decrease in activity compared to Q4 2019 and a -3% decrease over
12 months (-3% also at constant exchange rates and scope).
Fiscal-year 2020 once again demonstrates the performance and resilience of the
division's business, which continues, quarter after quarter, to strengthen the
value provided to customers.
ISIN code: FR0000038606
Indices: CAC ALL SHARES, CAC ALL-TRADABLE, CAC INDUSTRIALS, CAC MID & SMALL,
CAC SMALL, EN FAMILY BUSINESS
FORTHCOMING EVENTS
March 4, 2021 (after market closing): 2020 Results
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.
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 EUR2.1 billion in 2019, informs its
talented worldwide team of 4,400 today whose passion ceaselessly motivates the
group.
Company information is available at: www.manitou-group.com
Shareholder information: communication.financiere@manitou-group.com