MAN reports strong performance for 2023

MAN Truck & Bus SE delivered what it called a strong performance in fiscal year 2023. The manufacturer reports significant growth in unit sales, sales revenue, adjusted operating result and adjusted operating return on sales.

Sales revenue amounted to €14.8 billion (£12.65 billion) – an increase of 31% compared to the previous year (€11.3 billion/£9.66 billion). The number of new vehicles sold increased by 37% compared to the previous year to more than 116,000 units. Despite strong offsetting effects such as higher material and energy prices, adjusted operating result rose by €935 million (£799m) year-on-year to €1.08 billion, the best figure in the company’s history.

The realignment of MAN’s production network is also continuing. Production of electric city buses is currently continuing to ramp up rapidly at the Starachowice plant in Poland. MAN says it was the market leader for fully electric city buses in Europe in 2023.

“We have managed to achieve a historically good result and return MAN to its former strength” – MAN CEO, Alexander Vlaskamp

MAN CEO, Alexander Vlaskamp, said: “MAN has achieved an impressive turnaround in 2023, of which we can be very proud. We have managed to achieve a historically good result and return MAN to its former strength. A solid financial foundation is the basis for our transformation towards climate-neutral mobility. To continue on this course, we will significantly expand our product portfolio with zero-emission technologies in 2024 and further intensify cooperation within the TRATON GROUP.

“We are also entering the current year with a high order backlog. However, the economic conditions in our core European markets are becoming increasingly gloomy and the market environment is becoming more difficult. While our bus business should continue to recover, demand for trucks is declining significantly. Our van and service business should remain stable.”