MAN Truck & Bus

Numbers and Facts

Our financial year

MAN Truck & Bus has achieved its most recently forecast sales and turnover targets. The MAN TGE product line made a significant contribution to this achievement. Truck sales (> 6 t) declined by 29% compared to the previous year. This decline was apparent across almost all regions. Turnover reduced by 13% compared to last year, so the after-sales business was also lower at -5%. It was possible to attain the most recently forecast operating result. A volume-related decline due to the COVID-19 pandemic and associated temporary plant closures in the first half of 2020 had a negative impact on the originally forecast operating result. It was not possible to counteract this despite various cost reduction measures.

Our Results

The uncertainty generated by the COVID-19 pandemic led to severe impacts on our sales and operating profit, particularly in the second quarter of 2020. The market decline already anticipated for 2020, especially in the EU27+3 region, was exacerbated by the COVID-19 pandemic. Our operating profit amounted to -553 million euros (2019: 371 million euros) and was below the positive value of the same period in the previous year, despite various cost reduction measures. This corresponds to an operating return of -5.7% (2019: 3.3%). In addition to the volume-related decline in turnover, the operating result was encumbered by increased write-downs and by greater difficulties in the used vehicle business. Additional costs associated with introducing our new truck generation also played a part, as did a reduction in the value of our leased products due to lower resale prices and expenditure relating to termination of an engine project announced by Navistar. Measures taken in reaction to the COVID-19 pandemic, including in particular the closure of our plants in the first half of 2020, also had a negative impact on our operating result. Short-time work and comparable measures to reduce personnel costs had an opposite effect on the operating result, alongside cost savings in all divisions.

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