MAN AG: First Quarter 2008 - Further growth amid much improved performance
In the first quarter of 2008 the operating profit of the MAN Group rose by EUR137 million or 43% to EUR455 million as a result of the further increase in volume and the continuation of measures taken by the manufacturing areas to improve efficiency. As a result the return on sales
(ROS) rose by 2.3 percentage points from 9.6% in the first quarter of 2007 to 11.9%.
The MAN Group's EBT improved in the first quarter to EUR453 million(up from EUR305 million), its EAT (net income) jumping to EUR322 million(up from EUR228 million). Earnings per share (EpS) of continuing operations rose from EUR1.49 a year ago to EUR2.17.
For 2008 as a whole we want to achieve for the MAN Group an order intake on a par with the very high level of the previous year. This year we will increase sales by a good 10% on the previous year (EUR15.5 billion). We want to keep the return on sales (ROS) for this year at the high level of the first three months (11.9%), so that the operating profit for the entire year 2008 will be noticeably higher than the EUR1,730 million in 2007.
The MAN Group is one of Europe's foremost industrial players in the sector of Transport-Related Engineering, with sales in 2007 of some €15.5 billion. As a supplier of trucks, buses, diesel engines, turbo machinery and industrial services, MAN employs a workforce of around 55,000 worldwide. The MAN business areas hold leading positions in their markets. MAN AG, Munich, is listed in the DAX (German Stock Index) which comprises the thirty leading stock corporations in Germany.