The Manitou Group announces the evolution of its Mustang brand into "Mustang by Manitou". Known for its three emblematic Manitou, Gehl and Mustang brands, this action reinforces the value of its Mustang product range offering in all territories and the reputation of the Manitou Group, world leader in off-road handling.
The deployment of Mustang by Manitou was initiated at the end of July on all continents in order to bring this value to our dealers and users as soon as possible.
Arnaud Boyer, VP Marketing & Product Development, said: "With the transition from Mustang to Mustang by Manitou, the group combines the strength of a structured network with the strong brand awareness of Manitou. With these assets, we are convinced that the launch of new products will be a success, both in the North American network and in all the countries where Mustang models are marketed."
The board of directors of Manitou BF, meeting on this day, closed the accounts for the first half of 2018. Michel Denis, President and Chief Executive Of ficer, stated: “The Group achieved another record quarter and revenue growth of 17% compared to H1 2017. Business was b uoyant in all geographies and in our three markets of construction, agriculture and industries. Order intake for the second quarter was sustained and increased compared to Q2 2017 if we exclude the exceptional effects generated in France by the end of the tax law on equipment over-amortization in April 2017. In this very favourable environment, the Manitou group continued to expand its products range, gain market shares and increase its pro duction rate. Growth made great demands on the operational chain, which remained tense but under control. Th e increase in production rates enabled us to accelerate the reduction of the depth of the order book, someth ing we want to continue, in order to be more responsive to our customers. All these factors led to close the semester with a current operating i ncome of 6.7% of sales revenue, an increase of 70 basis points. At constant scope and exchange rate, current operating income was 7.0% of sales revenue. Business prospects remain positive, with markets that we stil l see well oriented in all regions. At this stage, the impact of changes in import duties in certain countries resulted i n an increase in production costs in the United States which, like all American manufacturers, we pass on to our customers. The performance achieved in the first half-year, the favourable ec onomic context and the size of our order book allow us to confirm our expectations of sales revenue growth of m ore than 15% for the financial year, and a growth in current operating income of around 80 basis points compared to 2017, or around 6.8%.”