MAN reports growth of sales revenue and positive adjusted operating result despite production downtime
- Sales revenue 4 % up on previous year despite several weeks of production stoppages
- Adjusted operating result reaches € 139 million with declining sales volume
- Strong earnings contribution from the vehicle service business
Despite a six-week production stop in the first half of the year as a result of the Ukraine war and the resulting supply bottlenecks, commercial vehicle manufacturer MAN Truck & Bus was able to achieve a sales revenue of € 11.3 billion (€ 10.9 billion) in the 2022 financial year, slightly above the previous year. Declining new vehicle sales were offset by an improved market and product mix, better price penetration for new and used vehicles and a significantly increased vehicle services business. The adjusted operating result amounted to € 139 million.
"In a truly turbulent financial year, marked by numerous challenges such as the Corona pandemic, the Ukraine war and macroeconomic upheavals such as high inflation, we managed to generate a positive operating result on an adjusted basis thanks to our best efforts and strict cost discipline. This is thanks to the great commitment of the entire team. We are therefore entering the new financial year with great confidence, in which we intend to largely complete the restructuring we started in 2021," explained Inka Koljonen, Member of the Executive Board for Finance, IT and Legal at MAN Truck & Bus SE.
The adjustments to MAN's operating result included restructuring expenses of € 13 million (€ 696 million) for the ongoing realignment of the company. In addition, charges of € 130 million were incurred in direct connection with the war in Ukraine. This includes expenses of € 92 million in connection with the sale of the Russian distribution company.