Following a slump in business activity as a result of the COVID-19 pandemic, the TRATON GROUP recently recorded a significant improvement in its order intake situation and thus expects a sharp increase in unit sales and a substantial increase in sales revenue for 2021. The TRATON GROUP’s operating return on sales is expected to range between 5.0 and 6.0%. This forecast is subject to developments in the number of COVID-19 cases and the associated countermeasures taken by the affected countries, as well as to any potential impact on our production and supply chains.
The forecast does not take into account expenditures in the MAN Truck & Bus restructuring program. It also does not contain any effects from the planned Navistar takeover. In early March, shareholders of the US commercial vehicle manufacturer voted to approve the merger agreement by a large majority. The transaction does, however, remain subject to regulatory approvals and the satisfaction of customary closing conditions. We are still expecting its completion in mid-2021. The restructuring measures within the framework of the MAN Truck & Bus realignment (including the measures in connection with the Plauen and Steyr sites, which are still to be resolved) are currently expected to incur cost in a high triple-digit million amount for the entire restructuring period. The majority of the expenses will be attributable to personnel measures.
TRATON CEO Matthias Gründler: “We are looking ahead to 2021 with optimism and expecting a sharp increase in unit sales and a substantial increase in sales revenue. We are tackling the restructuring process at MAN and lead the brand into a strong future. Scania is leading the way for the Group in the Chinese market with its new truck production facility in Rugao, while VWCO will expand its market position in Brazil with the new Meteor.”
Despite the negative consolidated earnings after tax recorded for FY 2020, the Executive and Supervisory Boards of TRATON SE are proposing to the Annual General Meeting to be held on June 30, 2021, to pay a dividend of €0.25 per share for fiscal year 2020. On the basis of its balance sheet structure, TRATON wishes to also allow its shareholders to participate in the growth in net cash flow in its second year as a listed company in line with its policy of dividend continuity.
The TRATON GROUP had already reported on key financial indicators for fiscal year 2020 on the basis of preliminary figures on January 22, 2021. Today, it has published its 2020 Annual Report. Unit sales declined by 21% to 190,200 vehicles, the Group reported a 16% decrease in sales revenue to €22.6 billion, and the Group’s adjusted operating profit came in at €135 million (previous year: €1,871 million), figures that TRATON confirmed in this Annual Report.
The TRATON GROUP will disclose further details on the course of business in 2020 and provide an insight into priority topics for 2021 during its Annual Media Conference, which will take place from 11 a.m. on March 22, 2021.
SOURCE: TRATON GROUP
