– Sales in Q1 2017 of €380 million, up 22% vs. Q1 2016

– Order intake on equipment in Q1 2017 of €433 million, vs. €307 million in Q1 2016 — Order book at the end of Q1 at €461 million, vs. €347 million in Q1 2016 and €344 million in Q4 2016

– Anticipation of an increase in sales in 2017 of 7 to 10% with an improved recurring operating income of 50-70 basis points relative to 2016

– Announcement of the acquisition of Terex Equipment in India

Ancenis, France — Michel Denis, president & CEO of Manitou, said, “With an increase of 22% in our sales revenue relative to the first quarter of 2016, our activity in the first quarter reflects both the improvement of the performance of Manitou, the recovery of most of our markets, as well as the effects of the scheduled termination of the law on accelerated depreciation of investments in France.

“The Group’s growth was experienced across its entire geographical range. In the construction sector, growth was particularly dynamic in Europe and in North America, with that region experiencing a major upsurge in rental companies. In the agricultural sector, the launch of our new range of telescopic handlers has a positive impact on our growth in an agricultural market that remains depressed.

“The excellent start to the year with a very strong seasonality as well as the size of our order book lead us to raise our anticipation for 2017 with now a growth in sales revenues of 7-10% and an improved recurring operating income of 50-70 basis points relative to 2016.”

Manitou Group, leader in all-terrain material-handling, designs, manufactures, distributes and services equipment for construction, agriculture and the industries. The group product ranges encompass: telehandlers, all-terrain, semi-industrial and industrial masted forklifts, skidsteers, track loaders, articulated loaders, access platforms, truck-mounted forklifts, warehousing equipment and attachments. Through its core brands, Manitou, Gehl and Mustang, together with its international network of 1,400 independent dealers, the group provides the solutions delivering value for its customers. Headquartered in France, the group registered in 2016 a revenue of €1.3 billion in 140 countries, and employs 3,300 people all committed to satisfying customers