The Manitowoc Company, Inc. reported a consolidated net sales increase of 2.9% for the fiscal year ending December 31, 2025, reaching $2.24 billion compared to $2.18 billion in 2024. The growth was primarily driven by higher new tower crane shipments in the Europe and Africa (EURAF) segment, which contributed an additional $50.6 million, and a $51 million increase in non-new machine sales. Gross profit also rose by 7.9% to $404.7 million, reflecting a gross profit margin improvement from 17.2% to 18.1%. However, the company faced challenges with increased engineering, selling, and administrative expenses, which rose by 8.6% to $342.9 million, largely due to costs associated with the triennial bauma trade show and higher employee-related expenses.
In terms of operational performance, Manitowoc's backlog increased by 22% to $793.5 million, indicating strong future revenue potential. The Americas segment saw a 5.2% increase in net sales to $1.26 billion, while the EURAF segment's sales rose by 8.3% to $667.2 million. Conversely, the Middle East and Asia Pacific (MEAP) segment experienced a decline of 13.9% in net sales, totaling $313.8 million, attributed to a less favorable product mix. The company employed approximately 4,700 individuals across its global operations, with a focus on enhancing its workforce to support growth initiatives.
Strategically, Manitowoc has been expanding its market presence through acquisitions and new product launches. In 2025, the company acquired assets and distribution rights from Ring Power Corporation for $12.9 million, enhancing its operational footprint in the southeastern United States. The company also launched several new crane models and expanded its service offerings, including the introduction of digital solutions to improve customer engagement. Manitowoc's CRANES+50 strategy aims to transition the company from a product-focused to a customer-centric business model, emphasizing aftermarket services and non-new machine sales.
Looking ahead, Manitowoc's management expressed optimism about achieving long-term financial goals, including $3 billion in net sales and a 12% adjusted EBITDA margin. However, the company acknowledged potential risks, including macroeconomic conditions, supply chain disruptions, and competitive pressures that could impact its ability to convert backlog into revenue. The company remains committed to continuous improvement and innovation, as evidenced by its ongoing investments in research and development, which totaled $55.8 million in 2025, up from $41.1 million in 2024.
About MANITOWOC CO INC
Manitowoc is a leading provider of engineered lifting solutions, designing, manufacturing, and supporting mobile hydraulic cranes, lattice-boom crawler cranes, and tower cranes. Serving global construction, energy, and industrial markets, it offers products under brands like Grove, Potain, and Manitowoc. The company emphasizes innovation, quality, and aftermarket services, with a focus on customer success, operational excellence, and sustainable growth across its international segments.
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