The Manitowoc Company (MTW) Corporate presentation summary

Strategic transformation and growth initiatives

• Focus on increasing higher-margin, recurring revenue streams to reduce cyclicality, targeting $1B in non-new machine sales and $3B total revenue aspirationally by leveraging aftermarket services and acquisitions.

• Strong track record in disciplined M&A, expanding service capabilities and geographic footprint, with $200M invested in acquisitions and $60M in organic growth from 2020 to 2025.

• Organic growth initiatives include new and upgraded service locations, expanded remanufacturing, and a significant increase in field service technicians, supporting customer needs and driving recurring revenue.

• Rental fleet investments have grown to $154M, supporting customers and driving improved ROIC with a targeted cumulative ROI above 25%.

• Capital allocation prioritizes high-ROIC investments, strategic acquisitions, and opportunistic share repurchases, maintaining leverage below 3x.

Market position and demand drivers

• Holds a top-three market share in each crane category, with a global footprint of 9 manufacturing sites and 46 service locations.

• Crane demand is expected to accelerate due to secular tailwinds such as global data center buildout, utility grid upgrades, European housing support, and Middle East modernization.

• The average age of crane fleets exceeds 15 years, indicating significant replacement demand potential.

• Over 100,000 crane units sold in the last 20 years, with a large installed base supporting aftermarket growth.

Financial performance and targets

• 2025 net sales reached $2.2B with adjusted EBITDA of $122M and adjusted ROIC of 5.3%.

• Aspirational targets include 12% adjusted EBITDA margin and 15% adjusted ROIC, driven by mix shift to recurring revenue and operational improvements.

• Non-new machine sales grew from $376M in 2020 to $690M in 2025, with a long-term target of $1B.

• Gross margins for non-new machine sales are approximately 35%, with recurring revenue streams providing higher returns.