MAN Loses 472 Mln. Euros in 4Q

Poor demand from the economic downturn caused German truck maker MAN SE to lose 472 million euros ($645 million) in the fourth quarter, compared with a profit of 177 million euros ($242 million) a year earlier, Bloomberg reported.

Sales fell 18% in the quarter, the company said Monday. The loss was the first quarterly deficit since 2003.

For the full 2009 year, the company lost 270 million euros ($369 million), or 1.84 euros a share, compared with an income of 1.23 billion euros ($1.68 billion), or 1.23 euros a share, in 2008, Bloomberg said.

Annual sales dropped 20% to 12 billion euros.