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MAN Group 2018 Operating Profit Down; Sees Revenue To Increase Slightly In 2019

MAN Group (MAGOF.PK) reported that its operating profit for fiscal year 2018 declined to 332 million euros from 358 million euros last year. As a proportion of the significantly higher sales revenue, the MAN Group's operating return on sales declined to 2.7%.

The company said its profitability in 2018 was still far below the strategic target. The Company is working hard on a lasting improvement.

The MAN Group's order intake increased by 12% to 13.9 billion euros, while sales revenue grew by 9% to 12.1 billion euros.

Unit sales in the Trucks business were up 14% on the prior-year figure at 95,352 vehicles in the year under review. This figure also included 7,871 MAN TGE vans. Unit sales in the Buses business also rose by 14%, with 7,204 MAN and NEOPLAN buses and coaches sold in 2018.

The Executive Board of MAN SE expects the MAN Group's sales revenue to increase slightly in 2019. The MAN Group's operating profit and the operating return on sales will improve noticeably in 2019 compared with the previous year.

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