Manitou Group releases four-year plan; reorganizes divisions

Manitou Group, Ancenis, France, has created a new four-year plan and reorganized the company into two divisions. As of January 2021, the company is organized into the product division and the services and solutions division. Resulting from the merger of the material handling and access (MHA) and compact equipment products (CEP) divisions, the product division will be chaired by Elisabeth Ausimour, previously president of the MHA division.

Manitou Group also recently created “New Horizons 2025,” a new plan for the next four years, which is built around four orientations:

• Exceed customer expectations with value-added services.
• Drive the green transition for a sustainable business model.
• Boost performance with streamlined operations.
• Build success as one united team.

On the basis of this new plan, the company has set itself the objective of achieving the following by 2025:

• Revenues of more than €2.5 billion euros (US$3 million).
• A recurring operating profit of more than eight percent of sales.
• Recurring EBITDA of more than 10 percent of sales.

In addition, the Manitou Group expects to invest around €460 million (US$560.1 million) over the duration of the plan. All of these objectives are defined excluding acquisitions and assuming market conditions are not impacted by any new major or structural crisis.

“2020 marked the world by a health and then economic crisis of unknown magnitude. Throughout the year, the group focused on protecting its employees, adapting its operations, optimizing customer relations and its financial performance. We start the year 2021, reorganized and reshaped, with a new roadmap ‘New Horizons 2025’ full of ambitions and challenges. The very good order intake dynamic observed during the third quarter was strongly amplified at the end of the year. However, the uncertainties resulting from a very unclear sanitary and economic environment remain strong,” said Michel Denis, president and CEO.