Manitou : Record profits in 2023 which should remain comfortable in 2024
>An impressive recovery in the operating margin in 2023 - Yesterday evening, Manitou reported its 2023 results. As announced at the sales publication at the end of January (+23% on an organic basis), the underlying operating margin beat the 7% threshold, at 7.4% (ODDO BHF/consensus = 7.2/7.1%) i.e. more than doubling the 2022 level (3.6%).This impressive recovery in profitability was notably due to the increase in selling prices, the decline in raw materials...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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