on MANITOU (EPA:MTU)
Manitou Reports Decline in Q3 2024 Revenues
Manitou Group has announced its financial results for the third quarter of 2024, revealing a downturn in performance. The company recorded cumulative nine-month revenues of €2,000 million, marking a 3% decrease compared to the same period in 2023. Specifically, Q3 2024 revenues were €593 million, a significant 10% decline from Q3 2023.
Despite a challenging environment, there was a rebound in order intake for equipment, which rose to €252 million in Q3 2024 from €216 million the previous year. However, the order book for equipment at the end of Q3 2024 stood at €1,107 million, down from €2,718 million in Q3 2023.
Manitou expects total revenues for 2024 to decrease by approximately 7% compared to 2023, although it anticipates a recurring operating profit above 7% of revenues for the year.
R. P.
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