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Manitou (MTU) investor relations material
Manitou Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
H1 2025 net sales reached €1,275m, down 9.4% year-over-year; Q2 2025 revenue was €675m, down 6.5% from Q2 2024.
Recurring operating income was €64.9m (5.1% margin), down from €127.5m (9.1%) in H1 2024.
Net income fell to €32.7m from €81.8m in H1 2024.
Order intake in Q2 2025 surged to €450m from €86m in Q2 2024; order book at end-Q2 2025 was €1,045m, down from €1,344m.
Launched the 2030 “LIFT” strategic roadmap, focusing on innovation, electrification, and sustainability, effective January 2026.
Financial highlights
EBITDA (restated from IFRS 16) was €98.8m (7.7% margin), down from €159.8m (11.4%) in H1 2024.
Net debt decreased by €71m since December 2024, standing at €299m as of June 30, 2025; gearing at 32%, leverage at 1.49.
Gross margin declined to 17.2% from 19.6% year-over-year.
Cash flow from operating activities was €144m, stable year-over-year.
Shareholders' equity remained stable at €935m.
Outlook and guidance
2025 revenue expected to remain stable compared to 2024, with a recurring operating profit margin of about 5.5%.
U.S. tariff changes could introduce significant, hard-to-predict market shifts.
Anticipates improved performance in H2 2025, supported by a six-month order book and increased order intake.
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