The total sales in the second quarter was 351 million. For the first half of the year, the company reports a revenue of 642 million Euro, which means an increase of 9 percent compared to 2013. Michel Denis, President & CEO stated: “We’re pleased with sales in the second quarter which greatly exceeded last year’s second quarter sales and permitted us to close the first half with 9% growth compared to June of 2013. The market was dynamic in Northern Europe and the US which offsets the regions impacted by tensions such as Russia and South America.”
Denis points out further that the growth was highlighted in the construction business among the customers of rental companies, especially in the UK, where there was a recovery with especially strong growth. “The industrial sectors evolved with contrasted trends, especially in the mining business which is still sluggish and industrial handling which showed sustained growth, confirming the success in that sector of our new range of MI forklift trucks”, he said.
The outlook for 2014 was updated to an increase in sales of approximately 5 percent compared to the previous outlook with stable sales. Manitou expects a current operating income between 2.8 and 3.3 percent.