Manitou: Q4 2015 Sales revenues
Manitou: 2015 Results
- Growth in sales revenues of 3% to €1,287 million
- EBITDA from recurring operations of €91 million, or 7% versus €78 million in 2014
- Current operating profit of €61 million, or 4.7%, versus €48 million, or 3.9% in 2014
- Net income of €32 million versus €30 million in 2014
- Net debt of €66 million, a gearing ratio of 13%
- Dividend to be proposed at the upcoming Shareholders’ Meeting of €0,36 per share
Michel Denis, President & CEO stated: “The Group experienced a very strong fourth quarter. European demand and business activity saw a strong increase throughout all regions especially in Russia which seems to have left its low point behind. France benefitted from a slightly improved business environment and the effects of new legislation (the Macron law) on rental companies. Moreover we were able to increase our market shares in Europe.
Lastly, the agricultural sector closed the period with newfound growth dynamics. On the other hand, the sudden decline of the American rental market in Q3 lasted until year-end. Given these dynamics, the group closed the period with an order book more focused towards Europe.
In 2015, the group moved forward in-line with its roadmap. We were able to strengthen innovation, develop our range of services and continue our commitment regarding Corporate Social Responsibility through the “Reduce” plan and some improvement in the total cost of ownership (TCO) of our machines.
For 2016, we are expecting an increase in sales of around 2% which should be impacted by the staying power of the French and European markets, by the continued development of our services and product ranges and by increased uncertainty in the business activity of rental companies in North America.”