Manitou: revenue up 12.3% over nine months, annual target confirmed
Manitou BF published on 29 October 2026 cumulative revenue of €2,069 million at the end of September, up 12.3%. This pace is above the annual growth range of 6.5% to 8.0%, which the Ancenis-based group confirmed without changing it.
The growth is driven by rising demand: machine orders increased 16.4% over nine months, and the order backlog reached €1,051 million. Growth remains uneven across regions: Europe accounts for most of it, North America accelerates in the third quarter, and the LAPAM zone declines over the cumulative period.
A third quarter at €642 million, up 13.0%
For the third quarter of 2026 alone, consolidated revenue reached €642 million, compared with €568 million a year earlier. This represents an increase of 13.0% on a reported basis and 12.0% at constant scope and exchange rates. Over nine months, growth stands at 12.3% on a reported basis and 13.0% on a comparable basis.
Machine orders follow the same trend. They amounted to €512 million in the third quarter (+19.3%) and €1,693 million over nine months (+16.4%). The machine order backlog stood at €1,051 million at 30 September 2026, compared with €1,009 million a year earlier, an increase of 4.1%.
According to the glossary of the press release, these orders are delivered within less than one year and may be cancelled. Chief Executive Officer Sylvain Blaise indicates that this backlog provides good visibility for the end of the financial year.
Europe drives growth, North America accelerates
Europe generated €1,709 million in revenue over nine months, up 15.6%, including €512 million in the third quarter (+13.3%). The group attributes this growth to delivery volumes across its telescopic handler range.
North America shows marked differences depending on the period. Its revenue reached €140 million in the third quarter, up 43.8% (+41.9% on a comparable basis).
Over nine months, growth is 5.8% to €380 million (+9.8% on a comparable basis), after a first half penalised by the group's performance, customs barriers and unfavourable exchange rate effects.
The LAPAM zone (Latin America, Asia-Pacific, Africa and the Middle East) declines 6.7% over nine months, to €243 million. Its decline is limited to 2.7% in the third quarter, at €88 million. Management cites Asian competition and geopolitical tensions in the Middle East.
By activity, machines total €1,744 million over nine months (+14.1%). Spare parts and accessories reach €256 million (+2.9%), with an increase of 6.3% in the third quarter alone. Services amount to €69 million (+7.5%).
2026 guidance maintained at 6.5% to 8.0% growth
The group confirmed its outlook for fiscal year 2026. It anticipates revenue growth of between 6.5% and 8.0% and a current operating profit margin of between 5.3% and 5.6%. The comparison base is revenue of €2,564 million for fiscal year 2025, according to accounts published on 29 April 2026.
According to management, these targets take into account the management of raw material pressures. They remain subject to a macroeconomic and geopolitical environment deemed uncertain. The group thus maintains its annual range, while cumulative growth at the end of September exceeds it.
As part of its LIFT 2030 strategic plan, Manitou signed in September 2026 an international cross-distribution partnership with South Korea's Hyundai Develon Construction Equipment. It covers ranges of compact construction equipment.
Fourth-quarter revenue will be published on 28 January 2027, after market close. At this stage, the group targets annual growth of between 6.5% and 8.0%, relying on a machine order backlog of €1,051 million at the end of September.
