MAN Reports Profits Amid Economic Downturn

15 February 2010 (Last Updated February 15th, 2010 18:30)

Germany's MAN Group recorded a clear operating profit of €504m (US$685m) in 2009 despite the global financial crisis, the company has announced. The group's power engineering business including MAN Diesel and MAN Turbo and Renk, recorded an operating profit of €566m (US$769m) and a 13.3

Germany's MAN Group recorded a clear operating profit of €504m (US$685m) in 2009 despite the global financial crisis, the company has announced.

The group's power engineering business including MAN Diesel and MAN Turbo and Renk, recorded an operating profit of €566m (US$769m) and a 13.3% return on sales.

MAN Diesel generated a total revenue of €2.4bn (US$3.2bn) throughout the year, compared to €2.5bn (US$3.4bn) in 2008.

MAN Turbo on the other hand increased its revenue by 4% to €1.4bn (US$1.9bn) in 2009 from €1.3bn (US$1.7bn) in the previous year.

MAN has won an order to equip six power plants worth €300m in Brazil at the beginning of 2010.

The group is merging its power engineering business to form MAN Diesel & Turbo, to enable growth.