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Manitou: 3% decline in nine-month sales
(CercleFinance.com) - Manitou reports sales for the first nine months of 2024 of two billion euros, down 3% on both a reported and like-for-like basis, including third-quarter sales of 593 million, down 10%.
"This slowdown is the result of a deterioration in the economic and geopolitical context since the summer, as well as a still-high inventory level at dealers in Northern Europe and North America", explains CEO Michel Denis. Not anticipating any major change in economic conditions to date, the materials handling equipment group forecasts sales for 2024 as a whole to be slightly below 2023, with operating income in excess of 7% of sales. Copyright (c) 2024 CercleFinance.com. All rights reserved. |
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