MAN Group in 2004: Significant improvements achieved
2005-02-17
The MAN Group reported a substantial improvement in earnings for the 2004 financial year. Earnings before interest and taxes (EBIT) rose by 41% from EUR443 million to EUR624 million. Earnings before taxes (EBT) registered an even higher percentage increase by 73% to EUR453 million (2003: EUR261 million). Earnings per share rose by EUR0.84, from EUR1.25 to EUR2.09.
During the fourth quarter of 2004, earnings before interest and taxes increased by EUR18 million to EUR256 million and earnings before taxes by EUR23 million to EUR205 million. Earnings per share improved by EUR0.08 to EUR0.99 (EUR0.91).
Rising earnings improved the cash flow from operating activities to EUR974 million (2003: EUR906 million) for the whole year. Compared with 31 December 2003 net financial debt could be reduced by EUR447 million to a positive amount of EUR8 million.
At the Annual General Meeting we intend to recommend a dividend increase from EUR0.75 to EUR1.05.
Order intake rose by 17% compared with 2003 to reach EUR16.1 billion and by 9% in the fourth quarter to EUR4.2 billion. Particularly strong growth was registered by Industrial Services and Diesel Engines. Printing Machines and Commercial Vehicles also recorded double-digit growth rates. Sales increased in 2004 by 10% climbing to EUR14.9 billion, and by + 8% in the fourth quarter to reach EUR4.6 billion.
Although the global economy has cooled off somewhat in recent months, a continued level of growth is expected. For the MAN Group, we anticipate 2005 a further increase in order intake and sales as well as a significant improvement in earnings.
MAN Aktiengesellschaft
The Executive Board