MAN Truck & Bus
In 2021, MAN Truck & Bus benefited from the global upturn to improve almost all financial key performance indicators. Operating result in the prior-year period had been negatively affected by the COVID-19 pandemic, in particular due to temporary production stops.
MAN Truck & Bus’s incoming orders in 2021 stood at 143,531 (previous year: 84,921) units. Incoming orders for trucks (> 6t) came to 107,476 (previous year: 60,862) units, a 77 percent year-on-year increase. The increase was attributable to all key regions, and growth of 84 percent was recorded in the most important EU27+3 market. Incoming orders for MAN TGE vans rose by 66 percent to 31,993 (previous year: 19,238) units. Incoming orders for buses decreased by 16 percent to 4,062 (previous year: 4,821) units. This decline was observed in all regions.
At 93,668 (previous year: 81,673) units, MAN Truck & Bus’s total unit sales were up 15 percent year-on-year. Unit sales of trucks (> 6t) increased by 14 percent year-on-year to 66,837 (previous year: 58,698) units. Significant growth was recorded in the key EU27+3 region in particular. Unit sales of MAN TGE vans rose by 26 percent to 22,202 (previous year: 17,635) units. Unit sales of buses declined by 13 percent to 4,629 (previous year: 5,340) units. This decline affected all regions except Asia/Pacific.
MAN Truck & Bus generated sales revenue of 10.9 billion euros (previous year: 9.7 billion euros), a year-on-year increase of 13 percent. The increase resulted from higher truck and MAN TGE van volumes. Sales revenue in the service business and sales revenue from used vehicles and engines also increased. By contrast, sales revenue from buses decreased by 19 percent.
Operating result was -447 million euros (previous year: -553 million euros), representing a 107 million euros increase compared with the previous year. This corresponds to an operating return on sales of -4.1 percent (previous year: -5.7 percent). Operating result was negatively impacted by expenses of 696 million euros in connection with the repositioning. Adjusted for these expenses, operating result (adjusted) was 249 million euros (previous year: -553 million euros) and operating return on sales (adjusted) was 2.3 percent (previous year: -5.7 percent). In addition to the volume-driven increase in sales revenue, operating result was positively affected by the introduction of the new truck generation, a positive development of the used vehicle market, and strict cost management. Increasing raw material prices and shortages in the supply of semiconductors had a negative impact in the fourth quarter of 2021 in particular.
Under the restructuring program, expenses of 696 million euros were incurred for the repositioning of MAN Truck & Bus in fiscal year 2021. These expenses contain the expenses directly attributable to the restructuring measures that are necessary for the restructuring and are not related to operating activities. Of the restructuring expenses of 696 million euros, 331 million euros is attributable to personnel measures (including severance payments and partial retirement arrangements) and 365 million euros to impairment losses on property, plant, and equipment and other expenses in the production network, especially in connection with the disposal of the commercial vehicle plant in Steyr.