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MAN (MAN)
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MAN : 2011-09-14, Two awards for MAN buses in Russia

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09/14/2011 | 03:45pm CEST

MAN continues on course for success in Russia: an MAN coach, the Neo-plan Cityliner, has been voted "Bus of the Year" at Comtrans 2011, the international commercial-vehicle show in Moscow. With its striking design this vehicle is the best-selling Neoplan model in Russia and has already won the "red dot design award: best of the best". Beside this a jury of specialists and independent experts in Russia singled out the MAN Lion's Regio as the winner in the category "Lowest running costs for buses".

Dr. Frank Hiller, Director Marketing, Sales & Services at MAN Truck & Bus AG, was extremely pleased about the prizes: "As an important growth market, Russia plays a major part in our BRIC strategy. These distinctions not only confirm the successful activities of MAN Truck & Bus on the Russian market but show once again that high-quality vehicles are those most favoured by experts and customers alike".

The success is reflected in sales too: in the first eight months of 2011, MAN was once again the leading European importer of commercial vehicles on the Russian market. From January to August 2011 the company delivered a total of 4,282 trucks over 6 tonnes and 152 coaches and intercity buses in the 12 metres and over segment to Russia. The number of units sold in the full year 2011 is set to be about twice as high as in 2010. This makes Russia the second largest market for MAN Truck & Bus after Germany. MAN is currently setting up a truck production plant in St. Petersburg. As early as 2012 a quarter of the trucks sold in Russia are to be produced locally.
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EBIT 2018 726 M
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Debt 2018 1 645 M
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Mean consensus HOLD
Number of Analysts 4
Average target price 86,1 €
Spread / Average Target -11%
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Joachim Gerhard Drees Chairman-Management Board & CEO
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