Manitou Group Q1 Revenue Rises 8% to €648 Million, Outlook at 5% Growth for 2026

Michel Denis, President and CEO of Manitou Group, said the company delivered a strong first quarter, with revenue of €648 million, up 8% year-on-year and 10.2% on a like-for-like basis, driven mainly by robust demand in European markets, particularly from rental companies.

Order intake remained strong at nearly €631 million in Q1 2026, a 9.9% increase over the same period last year, taking the order book to €1.2 billion. The company is also advancing its “LIFT” strategic roadmap, expanding electrification of its product range with new construction and agricultural telehandlers, and has formed a joint venture with Hangcha for lithium-ion battery production.

Based on current momentum and a healthy order book, Manitou expects revenue growth of around 5% in 2026, with recurring operating profit projected at about 5% of revenue. However, the outlook remains subject to challenges such as higher customs duties, rising raw material costs, exchange rate fluctuations, and broader macroeconomic and geopolitical uncertainties.

Review by region:

Europe: the region shows very strong growth with gross revenue of 553 million euros (+12.5%, +13.0% on a like-for-like basis). This momentum is driven by significant volumes in telehandlers. This trend is accompanied by an increase in market share and allows the group to strengthen its positioning.

North America: revenue for the region stood at 100 million euros (-14.2%, -4.6% on a like-for-like basis). This decline reflects a toughening of the commercial environment, marked by the impact of customs duties and unfavorable foreign exchange effects.

LAPAM: revenue for the region came to 72 million euros (-12.9%, -11.2% on a like-for-like basis). The region's performance is impacted by a market downturn and increased competitive pressure.