Michel Denis, President and Chief Executive Officer, stated: “In the third quarter, the group achieved a 10% increase in turnover compared to Q3 2020. The record order intake momentum we have been experiencing for the past year has been maintained. It concerns all our geographies and markets and projects our backlog at the end of September to a historic level of €2.3 billion. Over the third quarter, sales were delivered in a context of increased pressure on component availability. Like all manufacturing sectors, the extent of disruptions has worsened significantly in recent weeks. This deteriorated context has led us to adjust our revenue forecast for 2021 to growth of around 15% compared to 2020. In addition, the annual growth outlook for the current operating income rate is unchanged at around 130 basis points compared to 2020.”

Business review by division

With a third quarter sales of €350 million, the Product Division - (grouping of the former MHA and CEP divisions) recorded an increase of +12% compared to Q3 2020 and +24% over the first nine months of the year (or +25% at constant scope and exchange rates). The division is mobilising its teams on industrial fluidity. Investments in the energy transition have enabled the launch of the first electric rotating telehandler in the range.

With quarterly revenues of €82 million, the Services & Solutions Division - (S&S) recorded a +3% increase in turnover compared to Q3 2020 and +12% for the first nine months of the year (+13% at constant scope and exchange rates). The division supports the sustained needs of its customers required by the high rate of equipment engagement.