Manitou reports strong sales for 2015, with a growth in sales revenues of 3% to reach €1.287 billion. The firm’s EBITDA from recurring operations hit €91 million (7%), a notable gain over the €78 million recorded in 2014. The firm reports a current operating profit of €61 million (4.7%), a growth of 3.9% over the €48 million achieved in 2014. Net income grew to €32 million for 2015, compared to €30 million for 2014. The firm reported a net debt of €66 million, giving a gearing ratio of 13%.
Michel Denis, president and CEO of the firm said, “In 2015, the Manitou Group strengthened its operating and financial performance. The recovery of business activity in continental Europe offset the slowdown in the market for rental companies in the USA. Industrial flexibility was further strengthened to adapt to market fluctuations. In 2015, the group continued the launch of new equipment models, introduced new service offerings and improved its position in its markets.”
He added, “Strengthened by these factors, the group achieved its results ahead of its planned roadmap.”
And he concluded, “While confirming its sales growth prospects of around 2% in 2016, the group expects an improved recurring operating income of approximately 50 basis points."
