Manitou Bf Sa · EURONEXT:MTU
Manitou Bf Sa — Manitou Group — FY2024 Earnings Presentation
48 slides from Manitou Bf Sa's earnings presentation, Mar 5, 2025
Slide 1: Earnings 2024
Earnings 2024 Michel Denis - President and CEO Céline Brard - CFO Hervé Rochet - Chief Transformation & Governance Officer 2024 Annual results - March 5, 2025
Slide 2: Disclaimer
2 Disclaimer This presentation includes only summary information and does not in any way purport to be comprehensive. None of the Company or any of its affiliates, directors, officers, advisors and employees accepts any obligation, liability, claim or remedy for any loss arising from any use of these pr
Slide 3: Our Vision: Make Life Safe & Easy
3 OUR VISION MAKE LIFE SAFE & EASY At Manitou Group, we see both human life and the environment as precious assets to be protected and nurtured. We play our part with powerful brands that aim to improve user safety and quality of life. Brands committed to reducing their environmental impact while de
Slide 4: Manitou Group's mission
As a worldwide reference in handling, access platforms and earthmoving, Manitou Group's mission is to improve working conditions, safety and performance throughout the world, while protecting people and their environment. 2024 Annual results - March 5, 2025
Slide 5: CSR Roadmap
CSR Roadmap 2021-2025 2024 Annual results - March 5, 2025
Slide 6: Manitou Group's contribution to the SDGs
RSHIPS PARTNE S E GOAL Manitou Group’s FOR TH contribution to GO D OD N H A NG ALT I HE LL-BE WE Y QUALIT AT IO N EDU C CLIMATE GENDER ACTION EQUALITY LE SIB N PON IO RES UMPT S ION CON ODUCT P R & SU E S BL C TA CO ITIE INA R DA AN MM S BL FO L E UN AND E AF ND C RGY IT K A NE IE S WOR E ENT DEC RE
Slide 7: 2024 Annual results - March 5, 2025
2024 Annual results - March 5, 2025
Slide 8: Group's life: 40 years of listing
Group’s life Célébration des 40 ans de cotation de Manitou BF » Manitou BF’s 40th anniversary of public » listing Hervé Rochet endosse désormais le rôle de » Chief Transformation Manitou Group celebrated& Governance on April 24th Officerthe, pour accélérer 40 years since thelacompany transformation we
Slide 9: Group's life: Executive committee evolution
Group’s life » Evolution of the Executive committee » Céline Brard has taken over as Chief Financial Officer to reinforce the management of finance at the heart of the company’s strategy. » Hervé Rochet now assumes the role of Chief Transformation & Governance Officer to accelerate the transformation and
Slide 10: Group's life: additional credit facility
Group’s life » Signing of an additional € 160 million credit facility » Strengthening of the group’s liquidity » Supporting growth 2024 Annual results - March 5, 2025
Slide 11: Acquisitions: COME and Metal Work
Acquisitions » Majority stake acquisition in the Italian companies COME and Metal Work » COME, specialized in the manufacturing of mechanical welded parts » Metal Work, expert in bending and laser cutting » Acquisition in January 2024 2024 Annual results - March 5, 2025
Slide 12: Acquisitions: Dezzo Equipment assets
Acquisitions * » Signature of an agreement with South African dealer Dezzo Equipment for the purchase of its assets » in order to perpetuate its activities » in order to strengthen customer service in the area 2024 Annual results - March 5, 2025
Slide 13: Group's life: Community of Sustainable Equipment Stakeholders
Group’s life » Manitou Group co-founder of the Community * of Sustainable Equipment Stakeholders (CAMD) » In order to successfully transform the construction equipment sector into a sustainable one, Manitou Group has joined 9 other volunteer companies in the sector » Participation in the 6th edition
Slide 14: Group's life: On the way up #4 event
Group’s life » Event On the way up #4 » Broadcast of the fourth edition of our annual event dedicated to sustainability issues » An event bringing together all Manitou Group stakeholders and open to the general public » An interactive format with the participation of experts » More than 40 countries
Slide 15: Group's life: Grand Prix Impact Entreprise
Group’s life » Manitou Group wins the “Grand Prix Impact Entreprise” » which recognizes its solid local roots, successful international expansion and commitment to environmental and social issues 2024 Annual results - March 5, 2025
Slide 16: Group's life: Yankton factory inauguration
Group’s life » Factory inauguration and celebration of 50 years of the Yankton (South Dakota) site » 7,000 m² extension of the site dedicated to the production of telescopic forklifts for the North American market, and articulated loaders » Investment of €18 million to meet the growing needs of dema
Slide 17: Group's life: Candé groundbreaking
Group’s life » Groundbreaking ceremony at Candé » An investment of €60 million to integrate the upstream phase of the booms structure of telescopic articulated MEWPs » To absorb peaks in activity in the long term and optimize production control » Delivery planned in the first half of 2027 2024 Annual
Slide 18: Highlights - Products & innovation: ME lift forklifts
Highlights - Products & innovation * » Launch of a new range of ME lift forklifts » Five new compact electric models ranging from 1.6t to 3t lifting capacity » A lithium battery with an extended lifespan » Delivery throughout Europe 2024 Annual results - March 5, 2025
Slide 19: Highlights - Products & innovation: New Ag telehandlers
Highlights - Products & innovation * » Evolution of New Ag's telehandler range announced at EIMA show in Italy » New boom design for 14 models » New 9m model to complete the range 2024 Annual results - March 5, 2025
Slide 20: Highlights - Products & innovation: scissor lift range
Highlights - Products & innovation * » Launch of a new scissors lift range dedicated to the European market » 3 new models of 8m, 10m and 12m working height » Entry into the most voluminous mobile elevating work platform market » Enabling the group to become a full-liner in the mobile elevating work
Slide 21: Highlights - Products & innovation: MTA 519 telehandler
Highlights - Products & innovation * » Launch of the new MTA 519 telehandler at the ARA show (USA), an international event dedicated to rental equipment » A compact telehandler designed to meet the greatest number of users and the maximum needs 2024 Annual results - March 5, 2025
Slide 22: Highlights - CSR: retrofit telehandler
Highlights - CSR » Preview of the first “retrofit” telehandler - a diesel telehandler remotorised in electric version » Partnership with Kiloutou, Europe’s third largest equipment rental company » A transitional solution that is both sustainable and circular, with a 40% reduction in greenhouse gas emi
Slide 23: Highlights - CSR: fossil-free steel with SSAB
Highlights - CSR » Letter of intent signed between SSAB and Manitou Group on fossil-free steel » Ambition to significantly reduce our direct and indirect carbon emissions » First deliveries of fossil-free steel anticipated by 2026 2024 Annual results - March 5, 2025
Slide 24: Activity
Activity 2024 Annual results - March 5, 2025
Slide 25: 2024 Addressable markets: €60 bn
25 2024 ADDRESSABLE MARKETS: €60 bn Off-road addressable market by product range in billion of euros PRODUCTS bn € % Aerial work platforms 7.5 29.2 Telehandlers 6.5 25.3 Track loaders 5.2 20.2 Industrial handling addressable market by product range in billion of euros Backhoe loaders 2.5 9.7 PRODUCT
Slide 26: Manitou Group's positioning in 2024
26 MANITOU GROUP’S POSITIONING in 2024 Leader Challenger Outsider WORLD EUROPE NORTH AMERICA REST OF WORLD Rough-terrain material handling Aerial work platforms Compact equipment & backhoe loaders Industrial and warehousing forklifts 2024 Annual results - March 5, 2025
Slide 27: A presence in 3 markets
27 A PRESENCE in 3 markets* CONSTRUCTION AGRICULTURE INDUSTRIES In 2023, the distribution was respectively 61%, 27% and 12%. *Distribution of revenues in 2024 2024 Annual results - March 5, 2025
Slide 28: Highlights
28 Highlights » FY’24 Net sales of €m 2,656, -7.5% vs. FY’23, -8.0% like for like(1) » Recurring operating income at €m 199.0 (7.5%) vs. €m 211.6 (7.4%) in 2023 » EBITDA restated from IFRS 16(2) at €m 262.0 (9.9%) vs. €m 259.7 (9.0%) in 2023 » Net income group part at €m 121.9 vs. €m 143.4 in 2023 »
Slide 29: 12 months revenue
29 12 months revenue S&S: Services and Solutions Faster-growing boxes (vs.avg) 2024 Annual results - March 5, 2025
Slide 30: Evolution 12 months 2024 vs 12 months 2023
30 Evolution 12 months 2024 vs 12 months 2023 2024 Annual results - March 5, 2025
Slide 31: Evolution vs. 2023
31 Evolution vs. 2023 * at constant scope and exchange rate: definition in appendix 2024 Annual results - March 5, 2025
Slide 32: Order intake and order book on equipment
32 Order intake and order book on equipment (€m) Stabilization and return to normal of the order book in the second half of the year (approximately 6 months of revenue) 2024 Annual results - March 5, 2025
Slide 33: Product Division
33 Product Division Advantages - Increased profitability rate - Adaptation to the economic context in the second half of the year - Pursuance of investment plans - Strengthening of welding activities with COME’s and Metal Work’s acquisition Drawbacks - Activity declining in the second half of the yea
Slide 34: S&S Division
34 S&S Division Advantages - Activity improvement - Growth in used machines, rental and service activities - Pursuance of digitalization reinforcement - Assets purchase in South Africa Drawbacks - Competitivity pressure - Margin erosion Pursuance in deploying service activities 2024 Annual results -
Slide 35: Financial results
Financial results 2024 Annual results - March 5, 2025
Slide 36: Income statement
36 Income statement 2024 Annual results - March 5, 2025
Slide 37: Income statement by half-year period
37 Income statement by half-year period 2024 Annual results - March 5, 2025
Slide 38: Income statement by division
38 Income statement by division 2024 Annual results - March 5, 2025
Slide 39: Recurring operating profit evolution 2024 vs. 2023
39 Recurring operating profit evolution 2024 vs. 2023 2024 Annual results - March 5, 2025
Slide 40: Balance sheet
40 Balance sheet 2024 Annual results - March 5, 2025
Slide 41: Cash-flow
41 Cash-flow 2024 Annual results - March 5, 2025
Slide 42: Investments
42 Investments 2024 Annual results - March 5, 2025
Slide 43: Net debt
43 Net debt 2024 Annual results - March 5, 2025 EBITDA: Earnings before interest, taxes, depreciation, and amortization, restated from IFRS 16 impacts
Slide 44: Outlook 2025
Outlook 2025 2024 Annual results - March 5, 2025
Slide 45: Outlook
Outlook Expectation of a stable revenue in 2025 compared with 2024. Expectation of recurring operating profit for 2025 at 5.5% of revenues, in step with 2024 second half year results without geopolitical and evolution of customs duties impacts. 2024 Annual results - March 5, 2025
Slide 46: Q&A
Q&A 2024 Annual results - March 5, 2025
Slide 47: Definitions
47 Definitions Like for like, so at constant scope and exchange rates: » Scope: » for the company GI.ERRE acquired in March 2023, restatement from January 1st of the current year to the anniversary date of its acquisition ; » for the companies acquired in 2024 (COME S.R.L and Metal Work S.R.L in Janu
Slide 48: Thank you
THANK YOU THANK YOU 2024 Annual results - March 5, 2025