Manitou half year results

Manitou’s half year results report positive sales momentum and improved operating profitability.

Sylvain Blaise, president & CEO of Manitou stated, “Our business activity in the first half of 2026 demonstrates remarkable momentum, with revenue up 12.0%. This acceleration was confirmed in the second quarter with robust growth of 15.6%. In a complex global environment, Europe established itself as our primary growth driver (+16.6%), driven by the rental and agricultural sectors. Despite headwinds in North America due to tariffs and a LAPAM region impacted by Asian competition and geopolitical tensions in the Middle East, our fundamentals remain strong.”

Manitou’s  order book of €1092 million provides approximately six months of visibility for machine sales.

Manitou believes that the financial performance for this half-year demonstrates its ability to rebuild its margins. Recurring operating income reached €87 million (6.1% of revenue), up by €22 million compared to the first half of 2025. This improvement, driven by robust purchasing performance and optimized industrial efficiency, was achieved despite price pressures and the impact of tariffs.

As part of the energy transition (“LIFT 2030” strategy), the group is continuing to electrify its ranges with initial deliveries of electric telehandlers (MT 1440 e and MT 1840 e). Furthermore, the creation of the HM Battery Solutions joint venture with Hangcha in Le Mans strengthens the company’s lithium-ion battery supply chain.

Driven by first-half momentum and a robust order book, the group is upgrading its full-year 2026 guidance. It now expects revenue growth between 6.5 and +8% (up from 5% previously) and a recurring operating margin between 5.3 and 5.6% (compared to initial guidance of 5.0%). These outlooks, which factor in proactive management of raw material price pressures, remain subject to an uncertain macroeconomic and geopolitical environment.