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Traton Group achieves sharp increase in sales revenue and profit in 2021

The Traton Group’s sales revenue grew by more than a third to €30.6 billion (2020: €22.6 billion) in 2021

The Traton Group reported solid earnings in 2021 in a challenging market environment, achieving a very sharp year-on-year increase in its sales revenue and its adjusted operating result. Sales revenue rose by one-third to €30.6 billion (2020: €22.6 billion), driven by a strong truck business, the service business, and the integration of the new US subsidiary Navistar. At €1.6 billion, adjusting operating result was up sharply on the €135 million prior-year figure. Adjustments concerned expenses in connection with the repositioning of MAN Truck & Bus, which reduced operating result by €696 million, as well as expenses of €510 million at Scania in connection with the EU antitrust proceedings. This resulted in adjusted operating return on sales of 5.2% (2020: 0.6%) in 2021.

Christian Levin, CEO of the Traton Group: “The difficulties in the supply of semiconductors and other bought-in parts made 2021 a truly challenging year, despite the economic upturn. We managed these challenges well. Our order book has never been so full thanks to the 360,000 orders we received in 2021. However, our clear goal is to make sure all customers receive their vehicles as quickly as possible. And we will be taking important steps forward in our key strategic fields in 2022: with Scania laying the cornerstone in China, the world’s largest market for trucks, as well as in the areas of alternative drives and autonomous driving. There is also a new but highly experienced team on board at MAN Truck & Bus guiding the brand to sustainable profitability.”

Annette Danielski, CFO of the Traton Group: “Thanks to our high order backlog and the prospects of an improvement in the supply of semiconductors in the second half of the year, we started 2022 feeling confident. Based on this, the Traton Group’s unit sales and sales revenue will increase in 2022. Subject to continuing supply chain uncertainty, we are forecasting an adjusted operating return on sales of between 5.0 and 7.0% for the Traton Group. This guidance is subject to the further development of the war in Ukraine and in particular the impact on the TRATON GROUP’s supply chains and the global economy as a whole. It cannot be ruled out that as the conflict unfolds, it may have a material negative impact on the Traton Group’s net assets, financial position, and results of operations.”

The Traton Group’s key financial performance indicators:

Units FY 2021 FY 2020 Change
Incoming orders 359,975 216,251 66%
   of which trucks 305,745 182,402 68%
   of which buses 22,237 14,611 52%
   of which MAN TGE vans 31,993 19,238 66%
Unit sales 271,608 190,180 43%
   of which trucks 230,549 156,371 47%
   of which buses 18,857 16,174 17%
   of which MAN TGE vans 22,202 17,635 26%
Sales revenue (€ million) 30,620 22,580 36%
Operating result (€ million) 393 81 312
Operating result (adjusted) (€ million) 1,599 135 1,464
Operating return on sales (in %) 1.3 0.4 0.9 pp
Operating return on sales (adjusted) (in %) 5.2 0.6 4.6 pp
TRATON Operations      
Sales revenue (€ million) 30,103 22,152 36%
Operating result (€ million) 677 176 501
Operating result (adjusted) (€ million) 1,883 230 1,653
Operating return on sales (in %) 2.2 0.8 1.5 pp
Operating return on sales (adjusted) (in %) 6.3 1.0 5.2 pp
Net cash flow (€ million) 938 979 –41
TRATON Financial Services      
Sales revenue (€ million) 964 820 18%
Operating result (€ million) 259 107 152
Return on equity (in %) 18.6 11.1 7.5 pp

SOURCE: Traton

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