French materials handling manufacturer Manitou has reported a 22% increase in net sales in 2023 of EUR2.87 billion (USD2.04 billion).

Manitou expanded its Cande factory in France last year

Manitou chief executive officer Michel Denis says the strong growth in profitability last year “completely erased” the company’s financial underperformance in 2022.

“The development of our profitability in 2023 is the result of substantive work initiated at the beginning of 2022 to react to the explosion in inflation following the outbreak of war in Ukraine,” Denis says.

“Sales price rises have gradually offset inflation in raw materials and expenses, and the supply chain tensions encountered since the Covid pandemic have eased, giving way to improvements in industrial efficiency.”

Denis forecast stable revenue for 2024.

“The downturn in European markets, particularly in construction, should be offset by the dynamism of the North American market,” he says. 

“This polarisation of markets will affect our production sites in different ways, with some remaining at record production rates, and others slowing down compared with 2023.”

Manitou’s product division reported a 25% increase in revenue to EUR2.47 billion (USD2.69 billion) as a result of higher selling prices, increased production rates and steady improvements in the fluidity of the supply chain.

Its services and solutions division posted a 2% rise in revenue to EUR399 million (USD436 million) on increased spare parts sales and a gradual improvement in the supply chain.

The story of the Manitou Group is one of dynamic progress combined with imaginative flair. During the 1940’s, Marcel Braud, the father of the group’s current Chairman, registered several patents for cranes and block presses. However, history did not allow him to exploit them himself.

In 1957, this same imaginative flair led to the invention of the rough-terrain forklift truck that was named Manitou during a family gathering. Immediately following this innovation, Manitou took up the industrial challenge.

Based in Ancenis on the banks of the Loire, the company started manufacturing this product. Success came very early and continued to grow over subsequent years. And in the same way that Manitou’s imaginative flair knows no limits, the Group, in its quest to become an international leader, expanded its activities equally abroad whilst maintaining a highly successful distribution throughout Europe.

Today, Manitou has a presence in more than 120 countries, through 500 points of sale and 23 subsidiaries with production and distribution facilities, including 9 factories specializing in particular products in France, Italy, China and the U.S.A.

Backed by over 50 years’ experience in rough-terrain handling, Manitou has established itself over the years as the undisputed world market leader in rough-terrain trucks. Its range of rough-terrain material handling equipment is the widest on the market with its easily identifiable brand names:

1. Masted rough-terrain, semi-industrial and industrial forklift trucks: MANITOU

2. Telescopic forklift trucks: MANISCOPIC

3. Truck-mounted forklifts: MANITRANSIT

4. Compact loaders: MANILOADER

5. Access platforms: MANIACCESS

6. Forklift trucks with front telescopic arm and rear-mounted backhoe: MANIHOE

7. Warehouse equipment, including pallet forklift-trucks and stackers: MANILEC

While strengthening its position as world leader in the rough terrain handling market, MANITOU saw worldwide sales of forklift trucks top the 200,000 mark in 2004. Reaching the 200,000 mark is an unprecedented milestone in the company's history. It took 34 years to reach 100,000 units produced and sold but just 12 years to reach the 200,000th unit.

The Manitou Group continues its growth for the future through developing markets, creating new products and its uncompromising policy in terms of quality.

More than ever, imagination and vision are in power at Manitou.