Breaking News

EU Targets Bortnikov, Head of Russian Secret Service, in Draft of Sanctions
Tweet TWEET

MAN SE Targets Higher 2014 Earnings as Quarterly Profit Declines

MAN SE (MAN), Europe’s third-largest maker of commercial vehicles, predicted “significantly higher” earnings this year after fourth-quarter earnings fell 4.2 percent.

Profitability at the truck manufacturing division will improve, Munich-based MAN said today in a statement distributed at a press conference. Fourth-quarter operating profit declined to 296 million euros ($410 million) from 309 million euros a year earlier. Revenue increased 4.46 billion euros from 4.19 billion euros.

The company is predicting 800 million euros operating profit in the near term, the division of Volkswagen AG (VOW) said.

Parent VW is scheduled to release full-year earnings figures for all its brands tomorrow.

To contact the reporter on this story: Christoph Rauwald in Munich at crauwald@bloomberg.net

To contact the editors responsible for this story: Chad Thomas at cthomas16@bloomberg.net Tom Lavell

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.