MAN Truck & Bus achieved a turnover of 11.3 billion euros in 2022 (+4%), despite a six-week production stoppage in the first half of the year due to the war in Ukraine and the problems supply. Adjusted operating income reached 139 million euros despite the drop in sales volume.
The decline in new vehicle sales was offset by an improvement in the market and product mix, better price penetration for new and used vehicles and a marked increase in vehicle services activity, indicates the German manufacturer in a communicated.
“During a truly turbulent financial year, marked by many challenges such as the Coronavirus pandemic, the war in Ukraine 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,” said Inka Koljonen, Member of the Executive Board responsible for Finance, IT and Legal at MAN Truck & Bus SE. “This success is the result of the strong commitment of the entire team. It is therefore with great confidence that we approach the new financial year, during which we intend to largely complete the restructuring begun in 2021.”
Adjustments to MAN’s operating result include restructuring expenses of €13 million (€696 million in 2021) for the ongoing reorientation of the business. In addition, charges of 130 million euros were registered in direct connection with the war in Ukraine. These charges include expenses of 92 million euros related to the sale of the Russian distribution company.
(with MAN press release)
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