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Manitou 529 telehandlers?
- Thread starter fendtman
- Start date
stock
Senior Member
Manitou stems losses for 'break-even' 2010
Troubled French plant manufacturer Manitou has reported an operating loss of £129m for 2009.
The company saw revenues plunge by 54% to £430m (pro-forma with Gehl) and made an operating loss of almost £72m with another £57m of exceptional costs. During the year it reduced the workforce by a fifth, lowered its break even point by a quarter and almost halved net debt to £215m.
In the US, Gehl suffered a bigger headcount reduction (37%) but continuing low order levels lead Manitou to predict the division will make a £44m loss in the first half of 2010.
The outlook in Europe is better as order intake in the first quarter has been better than expected leading Manitou to predict growth in the 'mid to high single digit' region and it expects to break even (before tax and interest) during 2010.
Cat counts the cost of recession
Caterpillar has announced a 75% drop in profit for 2009 on sales and revenue 37% lower at £20bn.
Troubled French plant manufacturer Manitou has reported an operating loss of £129m for 2009.
The company saw revenues plunge by 54% to £430m (pro-forma with Gehl) and made an operating loss of almost £72m with another £57m of exceptional costs. During the year it reduced the workforce by a fifth, lowered its break even point by a quarter and almost halved net debt to £215m.
In the US, Gehl suffered a bigger headcount reduction (37%) but continuing low order levels lead Manitou to predict the division will make a £44m loss in the first half of 2010.
The outlook in Europe is better as order intake in the first quarter has been better than expected leading Manitou to predict growth in the 'mid to high single digit' region and it expects to break even (before tax and interest) during 2010.
Cat counts the cost of recession
Caterpillar has announced a 75% drop in profit for 2009 on sales and revenue 37% lower at £20bn.
1andonlyrog
Member
hi 1 own a manitou 741 120 lsu powershift. i have been happy with the machine over the last 3000 hours. it seams to have simler running costs to the equivalent jcb. jcb more driver frendly. the next machine will be another jcb tho