MAN Diesel & Turbo lifts profit in face of fewer orders

The German engine manufacturer MAN Diesel & Turbo emerged from its third quarter with a better operating result than the same period last year, although there was a drop in new orders.

Photo: PR

While the German MAN group is having trouble with its sale of trucks in Brazil, the company’s Diesel & Turbo division made more money in the third quarter of 2015 than in the same period last year, the company’s newly published interim report shows.

Whereas MAN Diesel & Turbo presented operating profit of EUR 59 million in Q3 2014, it raised its profit to EUR 82 million in the corresponding quarter this year. The progress was driven by its Engines & Marine Systems unit where operating profit rose from EUR 42 million in Q3 2014 to EUR 88 million in the latest three months period, while its Power Plants segment went from operating profit of EUR 17 million in the quarter last year to a deficit of EUR 20 million this time around.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs