Manitou: Q3 2019 Sales Revenues

Date: 
17/10/19

Ancenis, 17 October 2019 – Michel Denis, President and Chief Executive Officer, stated: “Sales growth in the third quarter was +4% compared to the third quarter of 2018, and +18% for the first nine months of the year compared to the first nine months of 2018, confirming the start of the slowdown already announced. Order intake is down, as a result of declining markets (particularly in the US and Northern Europe) and the shortening of our delivery times, allowing our order book to match the deadlines adapted to our customers' needs. To date, this evolution does not affect our expectation of revenue growth of around +10% for the full 2019 financial year compared to 2018. Following the above-mentioned items and a six-week shutdown of our Madison plant due to floods, we expect a lower increase in current operating income in 2019, by 10 to 30 basis points”.

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