Manitou (MTU) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenues reached €568m, a 4% decrease compared to Q3 2024, with cumulative 9-month revenues at €1,842m, down 8% year-over-year.

• Order intake for Q3 2025 surged 70% year-over-year to €429m, while the order book at quarter-end stood at €1,009m, slightly below the prior year.

• The group demonstrated resilience in most geographic areas despite a market downturn, adverse tariff and exchange rate impacts, and overall market contraction.

• Market share increased despite overall market contraction, with strong momentum in Europe but a slowdown in North America.

Financial highlights

• Product division Q3 revenues fell 5% year-over-year to €465m; 9-month revenues declined 10%.

• Services & Solutions division Q3 revenues decreased 2% to €102m, but 9-month revenues rose 2%.

• Americas region Q3 revenues dropped 23% year-over-year, while APAM region grew 8%.

• Southern Europe remained flat in Q3, while Northern Europe grew 2%.

Outlook and guidance

• 2025 revenues are expected to decline by around 4% compared to 2024.

• Recurring operating profit is anticipated at 5.3% of revenues.