Manitou Group Reports Strong Q4 2025 Performance, Order Intake Hits Highest Level Since 2022

Manitou Group delivered its strongest quarterly performance in Q4 2025, with revenues rising 10% year-on-year to €721 million, driven primarily by robust demand in Europe, President & CEO Michel Denis said. The quarter marked the group’s best performance of the fiscal year, supported by strong execution from its industrial and sales teams.

Order intake during the quarter reached €726 million, the highest level since 2022, reflecting sustained demand across all geographies, particularly from Europe and major rental companies. The order book remains stable at around six months of activity, reinforcing the group’s solid fundamentals.

For the full year 2025, Manitou reported revenues of €2,564 million, a limited decline of 3.5% despite a challenging global market. The company continued to gain market share across regions, demonstrating resilience amid economic uncertainty. North America remained impacted by higher customs duties, currency headwinds and a volatile macroeconomic environment.

The strong Q4 performance has enabled Manitou to raise its recurring operating income outlook to 5.5% of sales, up from earlier guidance of 5.3%. The group is also actively deploying mitigation measures to address customs-related challenges.

Looking ahead, Manitou is advancing its 2026–2030 ‘LIFT’ strategic roadmap, supported by a new geographic operating structure and updated executive governance. Subject to stable macroeconomic and geopolitical conditions, the company expects revenue growth of around 4% in 2026, led by higher volumes in Europe and price adjustments in North America to partially offset increased customs duties.

With quarterly revenue of €615 million, the Product division recorded a 10.8% increase compared to Q4 2024 and a 4.6% decline over 12 months (-3.5% at constant scope and exchange rates). In the fourth quarter, the Product division benefited from a rebound in activity in Europe. Over the full year, it was penalized by a 'wait-and-see' attitude from certain players and by the increase in customs duties in the US market.

With quarterly revenue of €107 million, the Services & Solutions (S&S) division recorded a 5.6% increase in revenue compared to Q4 2024 and a 2.8% increase over 12 months (+4.0% at constant scope and exchange rates). This illustrates stronger resilience, driven by the momentum in spare parts and accessories, as well as the development of service activities.