Manitou : Good adaptation to lower-than-expected demand
>Disappointing Q3 revenue – No growing geographic area and Northern Europe falling behind - Manitou published its Q3 2024 revenue yesterday evening. It came to € 593m, down 10% (reminder H1 = 0%) and significantly below our expectations (ODDO BHF = € 665m).There were no more growing geographic areas in the last quarter and Northern Europe has been significantly underperforming (-22% vs -3% for Southern Europe, -2% for the Americas and 0% for APAM). The economic/g...Manitou BF is active on the global market for material handling. Co. divides its activities into three divisions: Rough Terrain Handling (RTH) where Co. assembles and distributes rough terrain handling equipment such as masted forklift trucks and fixed and rotating telescopic forklift trucks; Industrial Material Handling (IMH) where Co. designs and distributes semi-industrial masted forklift trucks; industrial forklift trucks; truck-mounted forklifts; and Compact Equipment (CE) where Co. designs, assembles and distributes skid steer loaders, telescopic forklift trucks, articulated loaders and mini excavators. Co.'s brands include Manitou®, Gehl®, Mustang®, Loc®, Edge®.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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