03/05/2023

3 May 2023
3 May 2023, Comments Comments Off on MAN reports strong Q1 performance with increased sales and revenue
MAN reports strong Q1 performance with increased sales and revenue

The commercial vehicle manufacturer, MAN, has started the current financial year 2023 with an operating profit of €197 million (compared to previous year period: €55 million; adjusted €57 million) or an operating margin of 5.8%.

After production losses due to the Russian attack on Ukraine last year, sales for the first three months of 2023 increased by 41% to 27,333 units, compared to 19,325 new vehicles in the previous year’s first quarter. In total, 19,655 (14,355) trucks, 917 (707) buses, and 6,761 (4,263) vans have been sold to customers thisyear so far.

MAN Truck & Bus achieved sales of €3.4 billion, which was 34% higher than the previous year’s level (€2.5 billion). This growth is mainly due to increased sales of new vehicles and vehicle services.

“After an extremely difficult year with production downtime lasting several weeks, disruptions to supply chains, and high financial charges, including from rising energy and raw material prices, we succeeded in getting MAN back on track thanks to major efforts. The measures taken in recent years to improve earnings, some of which were incisive, are now bearing fruit and are also reflected in the Company’s earnings. A great success! In order to achieve our targets for the current fiscal year, we will now do everything in our power to continue this positive trend,” says Inka Koljonen, the MAN Truck & Bus SE Executive Board member responsible for Finance, IT and Legal. At the same time, however, she points to the uncertainties that still exist, resulting among other things from the economic consequences of the Ukraine war and the Corona pandemic.