Slide 1: Earnings 2025
Earnings 2025 Michel Denis - President and CEO Céline Brard - Chief Financial Officer
Slide 2: Disclaimer
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 pres
Slide 3: 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.
Slide 4: Agenda
4 Group’s Life 2025 Activity Financial results Outlook 2026 Questions - Answers
Slide 5: Group's Life
01 Group’s Life MANITDY
Slide 6: Hommage to Mr. Marcel Braud, Honorary President
Hommage to Mr. Marcel Braud, Honorary President 1932 - 2026 Résultats S1 2025 - 30 juillet 2025
Slide 7: Key facts - Governance
Key facts - Governance * Announcement of a new Executive committee » Lead the new operational structure organized around three regions, supported by global and corporate functions, to: » strengthen customer proximity » accelerate global growth » support its innovation and digital ambitions. (from le
Slide 8: Key facts - Governance
Key facts - Governance » Evolution of the governance » Michel Denis' third term will come to an end on June 11, 2026, at the close of the Annual General Meeting. A recruitment process has been launched by the Board of Directors to appoint a successor. » At the request of the Board of Directors, Mich
Slide 9: Acquisitions
Acquisitions * » Acquisition of Sitia’s robotics activity » in line with the new LIFT roadmap, with a view to making robotization a key area of innovation by acquiring recognized skills in this field.
Slide 10: Joint venture
Joint venture * » Creation of a joint venture in Le Mans, France, specializing in the manufacture of lithium-ion batteries » Accelerate the rollout of our electric machine ranges. » In line with our ambitions announced during the presentation of our new “LIFT” roadmap and our low-carbon trajectory.
Slide 11: CSR & innovation
CSR & innovation * » Manitou Group commits to decarbonize international logistics » First shipment of telehandlers to Canada and the United States. Eventually, aerial work platforms will also be shipped. » Reduction of more than 80% in CO2 emissions compared to a conventional cargo ship of the same
Slide 12: Product & innovation
Product & innovation * » Launch of two new telehandlers at the BAUMA trade show in Munich » two models measuring 14 m and 18 m with a load capacity of 4 tons » models equipped with lithium-ion batteries, expanding the range of electric machines available.
Slide 13: Product & innovation
Product & innovation * » Presentation of a second hydrogen prototype at Bauma » an electric rotating telehandler with a lifting height of 22m and a capacity of 6t » a hydrogen-powered range extender operating with a fuel cell.
Slide 14: Product & innovation
Product & innovation * » Presentation of a new rotating telehandler at Bauma » the highest lifting height in the range, at 40m for a capacity of 7t » allows the group to expand its range of rotating telehandlers.
Slide 15: Produits & innovation
Produits & innovation » Delivery of the first full-electric telehandlers dedicated to construction, equipped with Manitou batteries » As part of the group’s strategy to transition to more sustainable handling solutions » Model equipped with an electric battery developed in-house by its subsidiary eas
Slide 16: Product & innovation
Product & innovation » On-site testing of the retrofit telehandler prototype » in partnership with the Kiloutou Group » Six months of testing on three construction sites to validate the industrialization of electrification kits » a sustainable and circular transition solution with a 40% reduction in g
Slide 17: Product & innovation
Product & innovation * » Expansion of the compact loader range » Five new models—three skid steers and two compact track loaders—with high capacity (from 1.4t to 1.6t). » Among the best in the industry in terms of breakout force, hydraulic power, and auxiliary hydraulic system. 2025 Half-year result
Slide 18: Network
Network » Expansion of the GEHL brand dealer network in Latin America » Objectives: to enhance service quality and product availability for customers in the region. » Twelve new distribution points covering Brazil, Mexico, Panama, Peru, and Colombia with the dealer Chaneme. 2025 Half-year results -
Slide 19: Awards
Awards * » The “Vehicle Technology and Innovation” award was presented to the retrofitted telehandler at the Drive to Zero trade show » an award recognizing innovative ideas that are shaping the future of carbon-free mobility. » an initiative described by the jury as “excellent and responding to a re
Slide 20: 2025 Activity
2025 Activity
Slide 21: 2025 Addressable Markets: €58.4 bn
2025 ADDRESSABLE MARKETS: €58.4 bn Off-road addressable market by product range in billion of euros PRODUCTS bn € % Aerial work platforms 6.3 27.4 Telehandlers 5.9 25.7 Track loaders 5.2 22.6 Industrial handling addressable market by product range in billion of euros Backhoe loaders 2.2 9.6 Skid-ste
Slide 22: Manitou Group's positioning in 2025
MANITOU GROUP’S POSITIONING in 2025 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 22 2025 Annual results - March 12, 2026
Slide 23: A presence in 3 markets
A PRESENCE in 3 markets* CONSTRUCTION AGRICULTURE INDUSTRIES In 2024, the distribution was respectively 63%, 26% and 11%. *Distribution of revenues in 2025 23 2025 Annual results - March 12, 2026
Slide 24: Highlights
Highlights » FY’25 Net sales of €m 2,564, -3.5% vs. FY’24, -2.3% like for like(1) » Recurring operating income at €m 143 (5.6%) vs. €m 199 (7.5%) in 2024 » EBITDA restated from IFRS 16(2) at €m 200 (7.8%, including -0.7 points related to non-recurring items) vs. €m 262 (9.9%) in 2024 » Net income gr
Slide 25: 12 months revenue
12 months revenue S&S: Services and Solutions Faster-growing boxes (vs.avg) 25 2025 Annual results - March 12, 2026
Slide 26: Evolution 12 months 2025 vs 12 months 2024
Evolution 12 months 2025 vs 12 months 2024 26 2025 Annual results - March 12, 2026
Slide 27: Evolution vs. 2024
Evolution vs. 2024 * at constant scope and exchange rate 27 2025 Annual results - March 12, 2026
Slide 28: Order intake and order book on equipment (€m)
Order intake and order book on equipment (€m) 28 2025 Annual results - March 12, 2026
Slide 29: Financial results
Financial results MANITOU GROUP
Slide 30: Income statement
Income statement 30 2025 Annual results - March 12, 2026
Slide 31: Recurring operating profit evolution 2025 vs. 2024
Recurring operating profit evolution 2025 vs. 2024 Industrial efficiency impacted by import duties (€7M, -0.3 pts) Higher depreciation in line with our investment plan (€8M, -0.3 pts) Tight G&A management to mitigate the impact of wage inflation (€10M, -0.4 pts) 31 2025 Annual results - March 12, 202
Slide 32: Income statement by half-year period
Income statement by half-year period 32 2025 Annual results - March 12, 2026
Slide 33: Revenue, margin, and operating income trends by half-year
Revenue (€M), margin, and operating income trends by half-year 33 2025 Annual results - March 12, 2026
Slide 34: Income statement by division
Income statement by division 34 2025 Annual results - March 12, 2026
Slide 35: Product Division
Product Division Advantages - Growth in order intake - Market share gains - Improved industrial efficiency and adaptation of fixed production costs - Reduction in finished goods and component inventory levels - Continued investment efforts - Stepped-up R&D efforts, including the acquisition of Sitia’s r
Slide 36: S&S Division
S&S Division Advantages - Robust growth in services and accessories - Continued acceleration of digitalization - Tight control of G&A expenses Drawbacks - Competitive pressure - Performance of the Parts and Used Equipment segments » Acceleration of services and control of overhead costs 36 2025 Annu
Slide 37: Balance sheet
Balance sheet 37 2025 Annual results - March 12, 2026
Slide 38: Cash-flow
Cash-flow Operating and investment cash flows (free cash flow) will amount to €187 million in 2025, compared with €114 million in 2024. 38 2025 Annual results - March 12, 2026
Slide 39: Investments
Investments 39 2025 Annual results - March 12, 2026
Slide 40: Net debt (1/2)
Net debt (1/2) * Including IFRS 16 impacts and minority interest buy-out liabilities ** Includes the impacts of IFRS 16 and minority buy-back commitments 40 2025 Annual results - March 12, 2026
Slide 41: Net debt (2/2)
Net debt(2/2) * Including IFRS 16 impacts and minority interest buy-out liabilities ** Includes the impacts of IFRS 16 and minority buy-back commitments 41 2025 Annual results - March 12, 2026
Slide 42: Outlook 2026
Outlook 2026
Slide 43: Outlook
Outlook The group is pleased with its dynamic order book. In view of the conflict that has just broken out and its potential consequences, the communication of the 2026 guidance is deferred. 43 2025 Annual results - March 12, 2026
Slide 44: LIFT 2030 Strategy
OS LIFT 2030 Strategy MANITDY
Slide 45: 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.
Slide 46: Group's Life: Deployment of LIFT 2030 strategic roadmap
Group’s Life * » Deployment of LIFT 2030 strategic roadmap » to consolidate our global leadership and provide our customers with distinctive solutions, by engaging our employees and partners in innovation, focusing on solutions with a positive social and environmental impact » based on 4 pillars » d
Slide 47: LIFT Strategy Pillars
LIFT STRATEGY 4 PILLARS LEADING INNOVATING FOCUSING TRANSFORMING ON MATERIAL HANDLING & PEOPLE WITH SUSTAINABILITY AND CUSTOMER-DRIVEN ON CUSTOMER IE EXPERIENCE L OURSELVES FOR TOMORROW T ELEVATION MARKETS MINDSET I D EN N F CO
Slide 48: LIFT Strategy
LIFT STRATEGY LEADING INNOVATING FOCUSING TRANSFORMING ON MATERIAL HANDLING & PEOPLE WITH SUSTAINABILITY AND CUSTOMER-DRIVEN ON CUSTOMER EXPERIENCE IE L OURSELVES FOR TOMORROW T ELEVATION MARKETS MINDSET I D ● Develop an “electric” state EN ● Bolster our dealer network ● Deploy an ambitious F ● Boos
Slide 49: 2030 Quantified Objectives
2030 QUANTIFIED OBJECTIVES TURNOVER ROP EBITDA CAPEX ELECTRIC MACHINES > €3.8 Bn > 7,5% of revenue > 10% of revenue ~€600 M 28% of machines sold EDITIO EDITIO EDITIO N N N
Slide 50: CSR & Manitou Group
CSR &M A NIT O U G R O U P
Slide 51: CSR & Manitou Group
CSR & MANITOU GROUP 2011 2013 1st carbon footprint ● 1st CSR consultation 2015 scopes 1,2 & 3 ● 1st “Elevation” Plan focused on 3 pillars ● 1st Life cycle assessment (LCA) ● 1st CSR report ● Award from the French Ministry of Environment ● 1st place in the Gaia Index (industry category) 2017 2019 Sig
Slide 52: Elevation CSR 2021-2025 Plan Review
CSR 2021-2025 P L A N R E V I E W ELEVATION
Slide 53: CSR & Manitou Group: 2021-2025 Roadmap
CSR & MANITOU GROUP : 2021-2025 ROADMAP 2021-2025 ELEVATION PLAN
Slide 54: Results at end of 2025
RESULTS AT END OF 2025 Advancement of 2021-2025 Elevation Plan objectives 87% 13.83 24% Accident frequency rate (AFR2) of recycled steel Electric retrofit prototype Launch and on-site tests in collaboration with Kiloutou 58% of dealers evaluated and having CSR objectives set as part of the Dealer Ele
Slide 55: Group Carbon Results
GROUP CARBON RESULTS (scopes 1,2 & 3 emissions) 2025 Results Scopes 1 & 2 for the 1st time, the results are aligned with the SBTi target defined in 2021 Scope 3 in intensity stable result* not reached, linked to markets and technology stakes *excluding methodological changes 55
Slide 56: LIFT 2030 The CSR commitments
LIFT 2030 The CSR commitments Hervé Rochet - Chief Transformation & Governance Officer
Slide 57: The CSR Lens 2026-2030: 4 strategic axes & 16 commitments
THE CSR LENS 2026-2030 4 strategic axis & 16 commitments We lift TRUST & COLLABORATION We lift CIRCULARITY We lift HUMAN POTENTIAL We lift CLIMATE COMMITMENT 57
Slide 58: The CSR Lens 2026-2030: 4 strategic axes & 16 commitments
THE CSR LENS 2026-2030 4 strategic axis & 16 commitments Embed CSR into regional leadership, culture and Design for circularity & economic value change management Reduce resource intensity Act with integrity Extend usage through refurbishing, Build a responsible value chain retrofitting, and remanufa
Slide 59: The CSR Lens 2026-2030: Performance monitoring and CSR KPIs
THE CSR LENS 2026-2030 Performance monitoring and CSR KPIs ● 4 KPI flagships ● Report Manitou Group overall CSR performance externally to all the stakeholders Strategic KPIs ● 18 operational KPIs to follow the CSR performance ● Measure the key advancement on CSR Lens CSR commitments commitments ● De
Slide 60: The CSR Lens 2026-2030: 2030 strategic CSR KPIs
THE CSR LENS 2026-2030 2030 targets: 4 strategic CSR KPIs % of the value chain parts Progression of the “sustainable involved in responsible and products and services” net ethical standards sales 90% x 5.5 (new referential) Greenhouse gas emissions (2026 revision of targets) Accident Frequency Rate
Slide 61: Questions
Questions
Slide 62: Definitions
Definitions Like for like, so at constant scope and exchange rates: » Scope: » No company acquired in 2024 and 2025 that could impact the current period published. » no company exited the scope in 2023 and 2024. » Application of the exchange rate of the previous year on the aggregates of the current
Slide 63: Thank You
THANK YOU MANITOU | © iy motion