(Boursier.com) — In the 1st half of 2022, the turnover of Manitou amounted to 1.057 billion euros, up +9% compared to the 1st half of 2021, +6% on a comparable basis.
“Our supply chain remains disrupted by capacity, availability and transport issues, which continues to encourage our customers to secure their future supplies through continued high order intake, which is reflected in our order book. The sudden acceleration of inflation, particularly in steel, led to a significant deterioration in margins.The measures put in place to deal with it are taking effect, but gradually, given the depth of our order book. Elsewhere, the Services & Solutions division is confirming its strong development and its operational performance”, explains Michel Denis, Managing Director of Manitou.
Current operating profit amounted to €45.8 million at 4.3% of revenue (85 ME and 8.8% of revenue in the 1st half of 2021. “Over the half-year, the profit current operating is stopped at 4.3% of turnover, down sharply compared to the profitability of June 2021, the level of which was the record point since 2008”, specifies the Managing Director of Manitou.
The net result is at 29.3 ME (64.2 ME in the 1st half of 2021). Ebitda is at 68.2 ME (6.5% of turnover) vs. €109.6 million (11.3% of revenue) in the first half of 2021.
Net debt stands at 172 ME (excluding IFRS 16), for a ‘gearing’ of 22%.
Manitou maintains the anticipation of 2022 turnover, up more than 20% compared to 2021.
The group also maintains the suspension of operating margin guidance in the absence of visibility.
“For the 2022 financial year, we maintain our anticipation of a growth in our turnover of more than 20% compared to 2021. This anticipation does not include the assumption of restriction of access to energy. the strong uncertainties on the inflation of raw materials and more generally on the economic context do not allow us to date to anticipate our level of operating margin for the financial year 2022″, indicates Michel Denis.