Manitou recently released its new business plan titled "New Horizons 2025," which included a new organization of its divisions. The "New Horizons 2025" plan is built around 4 orientations:

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

On the basis of this new Plan, the Manitou Group has set itself the objective of achieving the following by 2025:

• Revenues of more than €2.5 billion ($3 billion)
• A recurring operating profit of more than 8% of sales
• Recurring EBITDA of more than 10% of sales.

In addition, the Manitou Group expects to invest around €460 million ($556.9 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.

New Organization of the Group

As of January 2021, the Manitou Group is organized into two divisions, the Product Division and the Services and Solutions Division. Resulting from the merger of the Material Handling & Access (MHA) and Compact Equipment Products (CEP) divisions, the Product Division is chaired by Elisabeth Ausimour, previously president of the MHA Division.

Message from Michel Denis, president & CEO

“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."