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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.

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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.

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