MAN’s Truck-Unit Profit Increases
MAN SE’s truck and bus unit’s operating profit for the first half of the year rose from a year ago, though sales declined in Latin America, the company announced July 30.
Higher margins in its trucks business lifted operating profit to 79 million euro (about $106 million) in the first six months of 2014, from 44 million euro ($59 million) in the prior-year period, the company said.
MAN, which is controlled by Volkswagen AG, said overall revenue fell 12% in the first half of the year, to 6.7 billion euro ($9 billion).
European commercial-vehicle demand rose slightly, but the market continued to feel the effects of the introduction of the Euro 6 emission standard, the company said.
It reported a “considerable decrease in orders” in Latin America, to 1.2 billion euro ($1.6 billion), down about 400 million euro ($535 million) from the previous year.
The German truck maker said that while it expects full-year revenue to be “noticeably below the prior-year figure,” it anticipates a “significant increase in operating profit.”
