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O N B a L a N The Manitowoc Company, Inc. The 2400 South 44th Street Manitowoc P.O. Box 66 Manitowoc, WI 54221-0066 The Manitowoc Company, Inc. 2009 Annual Report Company, Inc. 2009 Annual ON BALANCE Report ON BALANCE Manitowoc’s Multiplex Blended Ice Machine Three Manitowoc Foodservice brands and flavorings, serving up consistent shared their engineering expertise and flavor and texture while meeting the knowledge of Lean Six Sigma processes customer’s high standards for speed, to create the new Multiplex Blended Ice simplicity, and cleanliness. The develop- Machine to meet the accelerated time- ment of this innovative technology will table of a major quick-service customer. help our customer generate incremental We engineered this custom product to revenue and profits by adding this new Manitowoc’s New 31000 create a healthy blend of ice, yogurt, fruit, beverage offering to its menu. Heavy Lift Crawler Crane MN001 2009_Cover 1 3/17/10 8:03:02 PM Financial Highlights Investor Information Manitowoc took decisive actions to reduce costs The Annual Meeting and produce signifi cant of Shareholders will savings in 2009. be held May 4, 2010, in Manitowoc. Numbers in millions except share data, number of employees, number of shareholders, and shares outstanding For the Years Ended December 31 For the Year 2009 2008 % Change Net sales $3,782.6 $4,503.0 -16.0% Operating earnings from continuing operations $ (511.2) $ 519.8 -198.3% EBITDA (Credit Agreement Defi nition) $ 383.2 $ 841.6 -54.5% Corporate Headquarters Stock Listing & Related Information CEO Certifi cation to the New York Dividend Reinvestment & Stock Number of employees (approximate) 13,100 18,400 -28.8% The Manitowoc Company, Inc. Manitowoc’s common stock is traded Stock Exchange Purchase Plan 2400 South 44th Street on the New York Stock Exchange and is During 2009, the chief executive Computershare sponsors and Number of shareholders 3,470 2,512 38.1% P.O. Box 66 identifi ed by the ticker symbol MTW. offi cer of the company made timely administers a Dividend Reinvestment Manitowoc, WI 54221-0066 Quarterly common stock price submissions to the New York Stock and Stock Purchase Plan for The Financial Position EVA $ (139.2) $ 231.1 -160.2% Telephone: 920-684-4410 information for our three most recent Exchange of the CEO certifi cation Manitowoc Company’s common stock. Total assets $4,278.7 $6,086.1 -29.7% Telefax: 920-652-9778 fi scal years can be found on page 17 required by Section 12(a) of the NYSE Under this plan, shareholders may also corporate governance listing standards. purchase shares by investing cash, Independent Registered Public of our Form 10-K, which is part of this Debt to capitalization 78.2% 66.8% — The certifi cation was not qualifi ed in any as often as once a month, in varying Accounting Firm annual report. Shares of Manitowoc’s Total equity $ 607.2 $1,322.3 -54.1% way. Additionally, the company’s principal amounts from $10 up to a maximum PricewaterhouseCoopers LLP common stock have been publicly traded executive offi cer and principal fi nancial of $120,000 each calendar year. Average shares outstanding (diluted) 130,268,670 131,630,215 -1.0% 100 East Wisconsin Avenue since 1971. offi cer have made timely submissions Participation is voluntary. Suite 1800 Manitowoc Shareholders of the certifi cations required by Section To receive an information booklet Milwaukee, WI 53202 On December 31, 2009, there were Diluted Earnings per Share Earnings from continuing operations $ (4.94) $ 0.76 302 of the Sarbanes-Oxley Act as and enrollment form, please contact our 130,708,124 shares of Manitowoc Stock Transfer Agent exhibits to the company’s annual report stock transfer agent, Computershare. Earnings (loss) from discontinued operations, net of income taxes $ (0.28) $ (1.09) common stock outstanding and 3,470 Computershare Trust Company, N.A. on Form 10-K. Gain (loss) on sale or closure of discontinued operations, net of income taxes $ (0.19) $ 0.40 shareholders of record. Investor Inquiries First Class, Registered & Certifi ed Mail: Corporate Governance Guidelines, Security analysts, portfolio managers, Net earnings $ (5.41) $ 0.08 Form 10-K Report P.O. Box 43078 Code of Conduct & Code of Ethics individual investors, and media pro- Each year, Manitowoc fi les its Annual Providence, RI 02940-5068 The Manitowoc Company’s corporate fessionals seeking information about Report on Form 10-K with the Securities Diluted Earnings (Loss) per Share Diluted earnings (loss) per share $ (5.41) $ 0.08 governance guidelines, committee Manitowoc are encouraged to visit Overnight or Other Delivery: and Exchange Commission. Most of the Before Special Items tax: charters, code of conduct, and code of our Web site, or contact the following Special items, net of 250 Royall Street fi nancial information contained in that ethics are posted in the investor relations individuals: Goodwill impairment $ 4.21 — Canton, MA 02021-1011 report is included in this Annual Report section of our Web site: to Shareholders. Analysts & Portfolio Managers: Intangible asset impairment $ 0.76 — Telephone: www.manitowoc.com. A copy of Form 10-K, as fi led with the Carl J. Laurino Loss on purchase price hedges — $ 1.87 1-877-498-8861 This information may also be obtained Securities and Exchange Commission Senior Vice President 1-800-952-9245 by any shareholder, without charge, upon Loss on sale of product lines $ 0.06 — for 2009, may be obtained by any & Chief Financial Offi cer (Hearing impaired in U.S.) written request to: Restructuring expense $ 0.20 $ 0.10 shareholder, without charge, upon Telephone: 920-652-1720 1-781-575-4592 Maurice D. Jones written request to: Telefax: 920-652-9775 Loss on debt extinguishment $ 0.05 $ 0.02 (Hearing impaired outside U.S.) Senior Vice President, Steven C. Khail Loss (earnings) from discontinued operations $ 0.24 $ (0.64) General Counsel & Secretary Media Inquiries: Web site: Director of Investor Relations The Manitowoc Company, Inc. Steven C. Khail Goodwill impairment of discontinued operations $ 0.22 $ 1.33 www.computershare.com/investor & Corporate Communications P.O. Box 66 Director of Investor Relations Other $ 0.03 $ 0.04 The Manitowoc Company, Inc. Annual Meeting Manitowoc, WI 54221-0066 & Corporate Communications Diluted earnings (loss) per share before special items $ 0.36 $ 2.80 The annual meeting of The Manitowoc P.O. Box 66 Telephone: 920-652-1713 Dividends Company shareholders will be held Manitowoc, WI 54221-0066 Telefax: 920-652-9775 at 9:00 a.m., CDT, Tuesday, May 4, Manitowoc has paid continuous Other Information Net cash provided by operating activities $ 338.6 $ 309.0 9.6% 2010, at the Holiday Inn, 4601 Calumet dividends, without interruption, since General Inquiries: Property, plant and equipment, net $ 673.7 $ 728.8 -7.6% Avenue, Manitowoc, WI 54220. 1971. The amount and timing of any Joan E. Risch dividend will be determined by the Shareholder Relations Capital expenditures $ 72.5 $ 150.3 -51.8% We encourage our shareholders to participate in this meeting either in Board of Directors. Telephone: 920-652-1731 Depreciation $ 91.6 $ 80.2 14.2% person or by proxy. Telefax: 920-652-9775 Amortization of intangible assets $ 39.5 $ 11.6 240.5% Join MTW on the Internet Dividends paid $ 10.5 $ 10.4 1.0% Manitowoc provides a variety of Net debt increase/(reduction) $ (474.5) $ 2,020.9 -123.5% information about its businesses, products, and markets at: www.manitowoc.com. Equal Opportunity Manitowoc believes that a diverse workforce is required to compete Net Sales successfully in today’s global Manitowoc’s annual report was printed by an Manitowoc’s annual report was printed using Manitowoc’s annual report was printed on ($ Millions) marketplace. The company provides FSC certifi ed printer, supporting responsible Certifi ed 100% Renewal Energy. 10% recycled and recyclable paper using equal employment opportunities in its Despite the impact of a global reces- management of the world’s forests. vegetable-based ink. $5,000 Cert. no. SW-COC-001613 global operations without regard to race, sion, Manitowoc generated net sales color, national origin, sex, age, religion, $4,000 of nearly $3.8 billion—the second disability, sexual orientation, or gender $4,503 *Total Environmental Savings Impact based Net Energy Saved – 7 million BTUs, equivalent Wastewater Saved – 10,366 gallons not used $3,000 highest revenue level in its 107-year on national averages of similar paper without to the energy used by 3 homes/year identity. $3,783 $3,684 history. 10% post consumer waste. Solid Waste – 629 pounds, equivalent to 1 city $2,000 Greenhouse Gases Not Emitted – 2,152 pounds garbage truck $2,651 Wood Use Saved – 3 tons or 23 fewer trees of CO2 $1,000 $2,028 used $1,626 04 05 06 07 08 09 * Environmental impact estimates were made using the Environmental Defense Fund Paper Calculator. MMN001N001 22009_Cover009_Cover 2 33/19/10/19/10 22:31:36:31:36 AAMM Strategic Balance Manitowoc balances its seven strategic imperatives to respond to market conditions. Z Inspired Innovation Competitive Advantage Manitowoc’s Model 31000 is the The newly integrated Manitowoc largest crane it has ever built. Provid- Foodservice segment is strongly ing a maximum capacity of 2,535 positioned to capture additional U.S. tons, the 31000 features a vari- market share across a wide range able position counterweight system, of end markets and geographies. is mounted on four oscillating crawl- Innovation Customer (Pages 6 & 7) ers, and can erect over 720' of boom Continuous Focus and jib. Similarly, three Manitowoc development Fully integrated Foodservice brands worked in of new and in- global company collaboration to develop a blended novative products, that is a flexible Responsible Action ice machine concept for a major processes, and business partner.
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