Depressed shipping markets rub off on MAN

The major supplier took a hit across all business segments from the rough market conditions in shipping and offshore as well as by fierce competition on the important Brazilian car market. MAN expects lower sales and a decreased operating result for 2016.

Photo: PR

MAN SE, which manufactures engines and equipment for the shipping and offshore industries among other endeavors, took big blows across its business units in 2015, a year in which the company's most important markets faced extreme pressure.

The supplier's total revenue declined four percent from EUR 14.3 billion in 2014 down to EUR 13.7 billion in the previous year, while the net result shrank to EUR 150 billion in 2015 down from EUR 267 million last year, according to MAN's annual report released Friday.

Read the whole article

Get 14 days free access.
No credit card required.

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

Poseidon Principles set to raise ambitions in coming weeks

The banks in Poseidon Principles are working on the basis of halving CO2 emissions in shipping by 2050. At the same time, some of the same banks are working towards a target of CO2 neutrality by 2050 as part of the Net-Zero Banking Alliance. Before long, Poseidon will reassess its ambition.

Further reading

Related articles

Trial banner

Latest news

See all jobs