MAN Truck & Bus SE once again performed well in the first quarter of the 2024 financial year – despite opposing effects such as weaker demand and increased material prices. Sales rose to €3.5 billion – an increase of 3% compared to the first quarter of 2023 (€3.4 billion). Around 24,000 new vehicles sold meant a decrease of 12% compared to the previous year (Q1 2023: around 27,300). This is essentially due to a model year change in the first quarter of 2024 and the high level of the comparable quarter, in which catch-up effects had taken effect. The adjusted operating profit climbed by 41% to €278 million in the first quarter of 2024 (Q1 2023: €197 million). The adjusted operating return rose by 2.1 percentage points to 7.9% (Q1 2023: 5.8%).
“MAN is still on track,” said MAN CFO Inka Koljonen. “Despite the weaker market environment, we continued to improve our performance. The measures introduced in recent years make us more resilient to market fluctuations. With an adjusted operating return of 7.9 percent, we are already very close to our strategic goal.”
She further said:
“An advantageous price and product mix led to a further increase in sales in the first quarter despite declining deliveries. Business with buses and vans, engines and services is currently going very well. When it comes to trucks, we continue to benefit from a high order backlog, which we are consistently processing. However, we are noticing an increasing reluctance to invest among customers in our core European markets.”
MAN will therefore make further efforts to further optimise its cost position and cash management in 2024.
Hydrogen combustion engines are coming and testing of autonomous trucks on German highways is underway
The company is the first European truck manufacturer to produce an initial small series of 200 hydrogen combustion trucks. The vehicles will initially be delivered to customers in Germany, Iceland, the Netherlands, Norway and selected non-European countries as early as 2025. In this way, MAN is supplementing its zero-emissions portfolio at an early stage and in a targeted manner. Customer interest in the vehicles in the selected markets is already very high. MAN is also delivering the first fully electric eTrucks to customers this year.
MAN is also continuing to push ahead with autonomous driving: the company is now the first commercial vehicle manufacturer to test the technology on German highways.
Source: www.transport-online.de