par MANITOU (EPA:MTU)
3rd quarter 2026 revenue
PRESS RELEASE
3rd quarter 2026 revenue
Continued commercial momentum and full-year targets confirmed
- 9-month cumulative revenue of €2,069m: up +12.3% (+13.0% like for like1) compared to the first 9 months of 2025.
- Q3 2026 revenue of €642m: growth of +13.0% (+12.0% like for like1) compared to Q3 2025.
- 9-month machine order intake of €1.693m: up +16.4% compared to the same period in 2025.
- Q3 machine order intake of €512m: up +19.3% compared to the same period in 2025.
- Machine order book as of September 30, 2026 at €1,051m: vs. €1,009m as of September 30, 2025 (+4.1%).
- Confirmation of 2026 outlook: expected revenue growth between +6.5% and +8.0% and a recurring operating profit margin between 5.3% and 5.6%.
Ancenis, October 29, 2026,
The Board of Directors of Manitou BF, meeting today under the chairmanship of Marcel-Claude Braud, approved the group’s consolidated revenue for the third quarter and the first nine months of 2026.
Sylvain Blaise, President & Chief Executive Officer, stated: “The third quarter of 2026 confirms the very strong commercial trajectory achieved since the beginning of the year, with nine-month revenue up +12.3%. This performance is driven by the continued robustness of our European markets (+13.3% in the third quarter) and by a rebound in deliveries in North America during the third quarter (+43.8% in the third quarter) within a dynamic market. The LAPAM region remains impacted by Asian competition and geopolitical tensions in the Middle East. Our fundamentals remain solid, with an order book standing at €1,051 million, providing good visibility for the end of the year.
In line with the rollout of our LIFT 2030 plan, we continue to structure our offering with the signing of a strategic global partnership with the Korean group Hyundai Develon Construction Equipment.
Driven by the momentum of the first nine months of the year and a robust order book, the group confirms its guidance for the 2026 fiscal year and expects revenue growth between 6.5% and 8.0%, alongside a recurring operating profit margin between 5.3% and 5.6%. These outlooks, which incorporate proactive management of raw material pressures, remain subject to an uncertain macroeconomic and geopolitical environment.”
Key figures
Profitability by region
Effective January 1st, 2026, segment data is aligned with the group’s new organization. The group's reportable segments now correspond to the following three operational geographical areas:
- Europe
- North America
- LAPAM (Latin America, Asia-Pacific, Africa and Middle-East).
Segment data for 2025 has been restated to reflect this new organization.
Financial summary
| (in €m) | 9-month 2026 | 9-month 2025 | Variation | Q3 2026 | Q3 2025 | Variation |
|---|---|---|---|---|---|---|
| Consolidated revenue | 2,069 | 1 842 | +12.3% | 642 | 568 | +13.0% |
| Machine order intake | 1 693 | 1 454 | +16.4% | 512 | 429 | + 19.3 % |
| Order book (end of period) | 1 051 | 1 009 | +4.1% |
Revenue by region
The table below presents the revenue generated by each region (before the elimination of inter-region sales), reflecting the group's new operational organization which came into effect on January 1st, 2026:
| (in €m) | Q3 2026 | Q3 2025 | Change | Like-for-like Change1 | 9-month 2026 | 9-month 2025 | Change | Like-for-like Change1 |
|---|---|---|---|---|---|---|---|---|
| BY REGION | ||||||||
| Europe | 512 | 452 | +13.3% | +13.1% | 1,709 | 1,478 | +15.6% | +15.8% |
| North America | 140 | 97 | +43.8% | +41.9% | 380 | 359 | +5.8% | +9.8% |
| LAPAM | 88 | 91 | -2.7% | -5.9% | 243 | 260 | -6.7% | -7.8% |
| Elimination of inter-region | -98 | -72 | +36.6% | +36.5% | -261 | -254 | +2.8% | +3.8% |
| Total | 642 | 568 | +13.0% | +12.0% | 2,069 | 1,842 | +12.3% | +13.0% |
Review by region
Europe: the Europe region stands out as the group's main growth driver, posting cumulative revenue of €1,709m at the end of September (+15.6% vs. 2025). In the third quarter alone, regional sales amounted to €512m, up +13.3% compared to Q3 2025. This sustained performance is driven by very dynamic delivery volumes across the telehandler range.
North America: following a first half weighed down by our operating performance, tariff barriers, and adverse foreign exchange effects, North America recorded an acceleration in the third quarter with revenue of €140m, up +43.8% vs. Q3 2025. This significant rebound, in a dynamic market, brought cumulative revenue to €380m, up +5.8% at the end of September.
LAPAM - Latin America, Asia-Pacific, Africa and the Middle East: the LAPAM region recorded 9 month revenue of €243m, down -6.7% vs. 2025. In a highly competitive market, business nonetheless stabilized significantly in the third quarter with revenue of €88m (-2.7% vs. Q3 2025).
Recent significant events
Strategic agreement
Signing in September 2026 of an international cross-distribution partnership with Hyundai Develon Construction Equipment for compact construction equipment ranges.
LIFT 2030 CSR commitments
Presentation of the 2030 CSR commitment results during the 5th edition of On the way up, reaffirming the integration of sustainability pillars at the heart of the LIFT 2030 strategic plan.
Appendix
Revenue by activity and region
| (in €m) | EUROPE | NORTH AMERICA | LAPAM | ELIMINATION OF INTER-REGION SALES | TOTAL | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Q3 2026 | Q3 2025 | Change | Q3 2026 | Q3 2025 | Change | Q3 2026 | Q3 2025 | Change | Q3 2026 | Q3 2025 | Change | Q3 2026 | Q3 2025 | Change | |
| Machines | 428 | 374 | +14.4% | 122 | 81 | +50.8% | 71 | 74 | -4.4% | -88 | -64 | +36.7% | 534 | 465 | +14.7% |
| Spare Parts & Attachments | 67 | 63 | +6.4% | 16 | 13 | +18.5% | 11 | 10 | +10.1% | -10 | -7 | +35.4% | 84 | 79 | +6.3% |
| Services | 17 | 15 | +14.5% | 2 | 3 | -43.6% | 7 | 7 | -2.2% | -1 | -1 | +36.8% | 24 | 24 | +2.1% |
| Total | 512 | 452 | +13.3% | 140 | 97 | +43.8% | 88 | 91 | -2.7% | -98 | -72 | +36.6% | 642 | 568 | +13.0% |
| (in €m) | EUROPE | NORTH AMERICA | LAPAM | ELIMINATION OF INTER-REGION SALES | TOTAL | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9-month 2026 | 9-month 2025 | Change | 9-month 2026 | 9-month 2025 | Change | 9-month 2026 | 9-month 2025 | Change | 9-month 2026 | 9-month 2025 | Change | 9-month 2026 | 9-month 2025 | Change | |
| Machines | 1,452 | 1,235 | +17.5% | 328 | 309 | +6.0% | 193 | 209 | -7.8% | -229 | -225 | +1.5% | 1,744 | 1,529 | +14.1% |
| Spare Parts & Attachments | 208 | 201 | +3.7% | 48 | 45 | +5.3% | 30 | 31 | -2.5% | -29 | -28 | +6.7% | 256 | 249 | +2.9% |
| Services | 49 | 42 | +17.1% | 4 | 4 | -6.4% | 20 | 20 | -1.0% | -3 | -2 | +122.2% | 69 | 64 | +7.5% |
| Total | 1,709 | 1,478 | +15.6% | 380 | 359 | +5.8% | 243 | 260 | -6.7% | -261 | -254 | +2.8% | 2,069 | 1,842 | +12.3% |
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Glossary
(1) Like for like, so at constant scope and exchange rates:
- Scope:
- no company acquired in 2025 and 2026 that could impact the current period published,
- no company exited the scope in 2025 and 2026.
- Application of the exchange rate of the previous year on the aggregates of the current year.
(2) The order book corresponds to machine orders received and not yet delivered, for which the group:
- has not yet provided the promised machines to the customer,
- has not yet received consideration and has not yet been entitled to consideration.
These orders are delivered within less than one year and may be cancelled. The order book may vary due to changes in consolidation scope, adjustments, and foreign currency translation effects.
Code ISIN : FR0000038606
Indices : CAC ALL SHARES, CAC ALL-TRADABLE, CAC INDUSTRIALS, CAC MID & SMALL, CAC SMALL, EN FAMILY BUSINESS
FORTHCOMING EVENT: January 28, 2027 (after market closing)
Q4 2026 revenue
Company information is available at www.manitou-group.com
Shareholder information: communication.financiere@manitou-group.com
As a world reference in the handling, aerial work platform and earth moving sectors, Manitou Group’s mission is to improve working conditions, safety and performance around the world, while protecting people and their environment. Through its flagship brands – Manitou and Gehl – the group designs, produces, distributes and services equipment for construction, agriculture and industry. By placing innovation at the heart of its development, Manitou Group constantly seeks to bring value to all its stakeholders. Through the expertise of its network of 800 dealers, the group works more closely with its customers every day. Staying true to its roots, with its headquarters located in France, Manitou Group turned over €2.6 billion in 2025. It unites 6,100 talents worldwide with passion as their common driver.
Notes
- Like for like, so at constant scope and exchange rates: Scope: no company acquired in 2025 and 2026 that could impact the current period published, no company exited the scope in 2025 and 2026. Application of the exchange rate of the previous year on the aggregates of the current year.
- The order book corresponds to machine orders received and not yet delivered, for which the group: has not yet provided the promised machines to the customer, has not yet received consideration and has not yet been entitled to consideration. These orders are delivered within less than one year and may be cancelled. The order book may vary due to changes in consolidation scope, adjustments, and foreign currency translation effects.