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4-Traders Homepage  >  Equities  >  Xetra  >  Volkswagen AG    VOW3   DE0007664039

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Volkswagen AG : MAN the clear front-runner on Brazil’s truck market again in 2011

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01/16/2012 | 02:13pm CEST

Munich, 2012-01-16

Strong growth also seen in the bus market

2011 saw MAN Latin America once again record the most truck registrations in Brazil by far. According to national register Renavam, 50,829 MAN trucks were registered in Brazil. This makes MAN the most successful manufacturer of trucks over 5 tons in Brazil for the ninth year in a row with a market share of 29.7 percent. The registration authority also recorded 11,139 bus chassis for MAN's Volksbus brand. This corresponds to a 32.2 percent slice of the bus market. With a total of almost 62,000 newly registered commercial vehicles, MAN enjoyed an increase of 18 percent compared with 2010.

MAN Latin America also exported 9,500 vehicles outside Brazil - a 17.4 percent rise. Argentina and Chile were the main importers.

In 2012, MAN Latin America will offer all vehicles with Euro 5 engines since the emission standard applies in Brazil starting January 2012. MAN is able to benefit from its experience in the European commercial vehicle business. The Euro 5 has been mandatory in the region since 2009. MAN is also expanding its product range in Latin America to include extra-heavy MAN-branded trucks boasting 400 horsepower or more.

At its plant in Resende in the south of state Rio de Janeiro, MAN Latin America produces trucks in the Constellation (13-57 tons), Worker (13-31 tons), and Delivery (5-9 tons) ranges as well as bus chassis in the Volksbus series. The company has around 7,000 employees and a production capacity of up to 82,000 trucks and bus chassis per year. In order to secure its strong market position and leverage medium-term market opportunities, MAN will invest more than €400 million between 2012 and 2016 in additional production capacity as well as in research and development.

The MAN Group is one of Europe's leading industrial players in transport-related engineering, with revenue of approximately €14.7 billion in 2010. As a supplier of trucks, buses, diesel engines, turbomachinery, and special gear units, MAN employs approximately 52,300 people worldwide. Its divisions hold leading positions in their respective markets. MAN SE, Munich, is listed in the Dax equity index, which comprises Germany's thirty leading stock corporations.

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Financials (€)
Sales 2017 225 453 M
EBIT 2017 16 123 M
Net income 2017 11 761 M
Debt 2017 14 251 M
Yield 2017 2,50%
P/E ratio 2017 5,96
P/E ratio 2018 5,59
EV / Sales 2017 0,38x
EV / Sales 2018 0,36x
Capitalization 70 541 M
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