M<AN cijfers

MAN Truck & Bus sales revenue 2023 increases by 31% to € 14.8 billion

07 March 2024

MAN Truck & Bus SE reports over the year 2023 a "significant growth" in unit sales with sales revenue amounted to 14.8 billion euros – an increase of 31% compared to the previous year (€ 11.3 billion). The number of new vehicles sold increased by 37% compared to the previous year to more than 116,000 units of which 5703 buses and coaches, an increase of 19% compared to 2022. The adjusted operating result rose by € 935 million year-on-year to € 1.08 billion – the best figure in the company's history.

MAN CEO Alexander Vlaskamp: "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. 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." That said MAN states it will be launching many new products in 2024. MAN says it was already the market leader for fully electric city buses in Europe in 2023 – these will gain even more range in model year 2025. The first test fleet of electric coaches is also planned for 2025. On the truck site a new conventional truck will be launched in 2024 with fuel savings of up to six percent compared to the previous generation. The MAN e-truck with a daily range of up to 800 kilometres will be delivered to the first customers this year. Vlaskamp: "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." The MAN plant in Nuremberg will be celebrating the topping-out ceremony for the construction of the battery factory this year. In Salzgitter, MAN is currently expanding its global logistics center to meet the requirements of e-mobility, and construction of the product development center in Ankara is making good progress. Production of electric city buses is currently continuing to ramp up rapidly at the Starachowice plant in Poland. MAN CFO Inka Koljonen: "The multi-year Future Lion restructuring program will be successfully completed at the end of the year. As part of the transformation, we also realigned the bus business. In addition, we have worked consistently to further reduce fixed costs in all areas of the company and have significantly improved our cash management along the entire value chain. Combined with strong volume growth and a very good performance in the vehicle services business, we ended the year with record results. In the face of an increasingly challenging market environment, we will continue to focus on cost efficiency and cash management in 2024.”