Turnover jumped 45% year-on-year to €562m in 2011, while net income was back in positive territory at €15m.
The results were driven by strong growth in all three equipment divisions.
· The Rough Terrain Handling Division generated revenue of €397m up 45% compared with last year H1 despite suppliers constraints. But profitability flow-down was affected by price pressure, strong production ramp-up. Operating income reached €21m.
· The Industrial Material Handling Division posted revenue of €73.8m, up 24% compared with last year’s first half.
· Compact Equipment Division sales rebounded 68% to €90.6 m and achieved a margin of 17%.
Manitou is now forecasting full year growth of around 30%