Manitou (MTU) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 revenues reached €600m, a 12% decrease year-over-year, aligning with expectations.

• Order intake for equipment rose to €574m, up 8% sequentially and 209% year-over-year.

• Order book at quarter-end normalized to €1,169m, down from €1,878m a year ago.

• Stable revenues and recurring operating profit rate of around 5.5% of revenues expected for 2025.

Financial highlights

• Q1 2025 total revenues: €600m, down 12% year-over-year.

• Product division revenues: €490m, down 16% year-over-year.

• Services & Solutions division revenues: €110m, up 7% year-over-year.

• Order intake for equipment: €574m, up 209% year-over-year.

• End of Q1 2025 order book: €1,169m, down from €1,878m in Q1 2024.

Outlook and guidance

• Expectation of stable revenues in 2025 compared with 2024.

• Recurring operating profit rate for 2025 projected at around 5.5% of revenues.