MAN SE

MAN's net profit rose 1,828% to EUR 311 mil in 2017

By Helgi Analytics - November 05, 2019

MAN SE made a net profit of EUR 311 mil in 2017, up 1,828% when compared to the last year. Total sales reached EUR 14,342 mil, which...

MAN's price/earnings (P/E) rose 106% to 45.0 in 2017

By Helgi Analytics - November 05, 2019

MAN SE stock traded at EUR 95.1 per share at the end 2017 translating into a market capitalization of USD 16,770 mil. Since th...

MAN's employees rose 0.879% to 54,297 in 2017

By Helgi Analytics - November 05, 2019

MAN SE employed 54,297 persons in 2017, up 0.879% when compared to the previous year. Historically, the firm's workforce hit an all ...

Profit Statement 2015 2016 2017
Sales EUR mil 13,702 13,564 14,342
Gross Profit EUR mil 7,400 6,277 6,356
EBITDA EUR mil 1,137 1,216 1,632
EBIT EUR mil 92.0 204 566
Financing Cost EUR mil -3.00 155 32.0
Pre-Tax Profit EUR mil 85.0 49.0 533
Net Profit EUR mil 139 -18.0 311
Dividends EUR mil 4.00 4.00 ...
Balance Sheet 2015 2016 2017
Total Assets EUR mil 18,110 19,438 20,282
Non-Current Assets EUR mil 11,203 12,795 13,391
Current Assets EUR mil 6,907 6,643 6,892
Working Capital EUR mil 3,299 3,370 3,643
Shareholders' Equity EUR mil 5,565 5,850 6,125
Liabilities EUR mil 12,545 13,588 14,157
Total Debt EUR mil 5,187 2,995 3,101
Net Debt EUR mil 4,408 2,199 2,319
Ratios 2015 2016 2017
ROE % 2.52 -0.315 5.19
ROCE % 0.969 -0.117 1.87
Gross Margin % 54.0 46.3 44.3
EBITDA Margin % 8.30 8.96 11.4
EBIT Margin % 0.671 1.50 3.95
Net Margin % 1.01 -0.133 2.17
Net Debt/EBITDA 3.88 1.81 1.42
Net Debt/Equity % 79.2 37.6 37.9
Cost of Financing % -0.060 3.79 1.05
Valuation 2015 2016 2017
Market Capitalisation USD mil 14,840 14,647 16,770
Enterprise Value (EV) USD mil 19,639 16,969 19,550
Number Of Shares mil 147 147 147
Share Price EUR 92.7 94.3 95.1
EV/EBITDA 15.1 13.0 10.7
EV/Sales 1.25 1.17 1.21
Price/Earnings (P/E) 98.0 -770 45.0
Price/Book Value (P/BV) 2.45 2.37 2.28
Dividend Yield % 0.029 0.029 ...

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summary Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                          
Sales EUR mil                             16,472 15,772 15,861 14,286 13,702    
Gross Profit EUR mil                             6,774 6,539 7,053 6,914 7,400    
EBIT EUR mil                             1,256 628 268 401 92.0    
Net Profit EUR mil                             238 180 -524 253 139    
ROE %                             4.11 3.21 -9.66 4.72 2.52    
EBIT Margin %                             7.63 3.98 1.69 2.81 0.671    
Net Margin %                             1.44 1.14 -3.30 1.77 1.01    
Employees ... ... ...                       52,542 54,283 56,102 55,903 55,030    
balance sheet                                          
Total Assets EUR mil                             18,670 19,912 22,537 17,538 18,110    
Non-Current Assets EUR mil                             10,623 11,746 9,949 10,534 11,203    
Current Assets EUR mil ... ... ... ...                     8,047 8,166 12,588 7,004 6,907    
Shareholders' Equity EUR mil                             5,590 5,619 5,227 5,485 5,565    
Liabilities EUR mil                             13,080 14,293 17,310 12,053 12,545    
Non-Current Liabilities EUR mil ... ... ... ... ... ...                 4,738 6,305 5,749 5,159 5,081    
Current Liabilities EUR mil                             8,342 7,864 11,561 6,894 7,464    
Net Debt/EBITDA ... ... ... ...                     0.928 2.95 3.62 3.32 3.88    
Net Debt/Equity % ... ... ... ...                     39.6 70.0 84.3 79.0 79.2    
Cost of Financing % ... ... ... ... ...                   4.45 7.37 1.77 3.06 -0.060    
cash flow                                          
Total Cash From Operations EUR mil ... ... ...                       518 -72.0 136 -695 1,162    
Total Cash From Investing EUR mil ... ... ...                       -637 -1,233 -516 422 -492    
Total Cash From Financing EUR mil ... ... ...                       58.0 1,753 279 -411 -392    
Net Change In Cash EUR mil ... ... ...                       -61.0 448 -101 -684 278    
valuation                                          
Market Capitalisation USD mil ... ... ... ...                     13,099 15,668 18,091 16,402 14,840    
Number Of Shares mil ... ... ... ...                     147 147 147 147 147    
Share Price EUR ... ... ... ...                     68.7 80.8 89.3 92.2 92.7    
Earnings Per Share (EPS) EUR ... ... ... ...                     1.62 1.22 -3.56 1.72 0.946    
Book Value Per Share EUR ... ... ... ...                     38.0 38.2 35.6 37.3 37.9    
Dividend Per Share EUR ... ... ... ...                     2.32 1.03 0.163 0.020 0.027   ...
Price/Earnings (P/E) ... ... ... ...                     42.5 65.9 -25.0 53.5 98.0    
Price/Book Value (P/BV) ... ... ... ...                     1.81 2.11 2.51 2.47 2.45    
Dividend Yield % ... ... ... ...                     3.38 1.27 0.183 0.022 0.029   ...
Earnings Per Share Growth % ... ... ... ... ...                   -66.6 -24.3 -391 -148 -45.1    
Book Value Per Share Growth % ... ... ... ... ...                   -6.74 0.587 -6.98 4.94 1.46    
income statement Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                                          
Sales EUR mil                             16,472 15,772 15,861 14,286 13,702    
Cost of Goods & Services EUR mil                             9,698 9,233 8,808 7,372 6,302    
Gross Profit EUR mil                             6,774 6,539 7,053 6,914 7,400    
Staff Cost EUR mil ... ...                         3,093 3,266 3,343 3,419 3,760    
Other Cost EUR mil ... ...                         1,296 1,939 2,492 2,190 2,503    
EBITDA EUR mil ... ...                         2,385 1,334 1,218 1,305 1,137    
Depreciation EUR mil ... ...                         1,129 706 950 904 1,045    
EBIT EUR mil                             1,256 628 268 401 92.0    
Financing Cost EUR mil                             134 312 96.0 159 -3.00    
Extraordinary Cost EUR mil                             0 0 308 -124 10.0    
Pre-Tax Profit EUR mil                             1,122 316 -136 366 85.0    
Tax EUR mil                             434 124 377 100 -64.0    
Minorities EUR mil                             9.00 12.0 11.0 13.0 10.0    
Net Profit EUR mil                             238 180 -524 253 139    
Dividends EUR mil                             342 151 24.0 3.00 4.00   ...
growth rates                                          
Total Revenue Growth % ...                           12.2 -4.25 0.564 -9.93 -4.09    
Operating Cost Growth % ... ... ...                       5.15 18.6 12.1 -3.87 11.7    
EBITDA Growth % ... ... ...                       36.3 -44.1 -8.70 7.14 -12.9    
EBIT Growth % ...                           -2.10 -50.0 -57.3 49.6 -77.1    
Pre-Tax Profit Growth % ...                           -0.267 -71.8 -143 -369 -76.8    
Net Profit Growth % ...                           -66.6 -24.4 -391 -148 -45.1    
ratios                                          
ROE %                             4.11 3.21 -9.66 4.72 2.52    
ROCE % ... ... ... ...                     1.74 1.22 -3.65 1.83 0.969    
Gross Margin %                             41.1 41.5 44.5 48.4 54.0    
EBITDA Margin % ... ...                         14.5 8.46 7.68 9.13 8.30    
EBIT Margin %                             7.63 3.98 1.69 2.81 0.671    
Net Margin %                             1.44 1.14 -3.30 1.77 1.01    
Payout Ratio %                             144 83.9 -4.58 1.19 2.88   ...
Cost of Financing % ... ... ... ... ...                   4.45 7.37 1.77 3.06 -0.060    
Net Debt/EBITDA ... ... ... ...                     0.928 2.95 3.62 3.32 3.88    
balance sheet Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                                          
Non-Current Assets EUR mil                             10,623 11,746 9,949 10,534 11,203    
Property, Plant & Equipment EUR mil ... ... ...                       2,091 4,746 4,638 4,877 5,235    
Intangible Assets EUR mil ... ... ...                       1,883 2,140 1,924 2,020 1,909    
Goodwill EUR mil ... ... ... ...                     726 559 760 786 782    
Current Assets EUR mil ... ... ... ...                     8,047 8,166 12,588 7,004 6,907    
Inventories EUR mil                             3,513 3,373 3,112 3,095 3,058    
Receivables EUR mil ... ... ...                       2,331 2,141 2,346 2,234 1,924    
Cash & Cash Equivalents EUR mil ... ... ... ...                     957 1,366 1,137 525 779    
Total Assets EUR mil                             18,670 19,912 22,537 17,538 18,110    
Shareholders' Equity EUR mil                             5,590 5,619 5,227 5,485 5,565    
Of Which Minority Interest EUR mil ... ... ...                       62.0 69.0 77.0 81.0 89.0    
Liabilities EUR mil                             13,080 14,293 17,310 12,053 12,545    
Non-Current Liabilities EUR mil ... ... ... ... ... ...                 4,738 6,305 5,749 5,159 5,081    
Long-Term Debt EUR mil ... ... ... ...                     1,976 2,966 3,430 2,704 2,666    
Deferred Tax Liabilities EUR mil ... ... ...                       724 958 329 136 181    
Current Liabilities EUR mil                             8,342 7,864 11,561 6,894 7,464    
Short-Term Debt EUR mil ... ... ... ...                     1,194 2,333 2,115 2,154 2,521    
Trade Payables EUR mil ... ... ...                       2,324 2,006 1,922 1,662 1,683    
Provisions EUR mil ... ... ... ...                     2,194 1,850 2,021 1,745 1,811    
Equity And Liabilities EUR mil                             18,670 19,912 22,537 17,538 18,110    
growth rates                                          
Total Asset Growth % ...                           7.11 6.65 13.2 -22.2 3.26    
Shareholders' Equity Growth % ...                           -6.68 0.519 -6.98 4.94 1.46    
Net Debt Growth % ... ... ... ... ...                   23.5 77.7 12.1 -1.70 1.73    
Total Debt Growth % ... ... ... ... ...                   11.3 67.2 4.64 -12.4 6.77    
ratios                                          
Total Debt EUR mil ... ... ... ...                     3,170 5,299 5,545 4,858 5,187    
Net Debt EUR mil ... ... ... ...                     2,213 3,933 4,408 4,333 4,408    
Working Capital EUR mil ... ... ...                       3,520 3,508 3,536 3,667 3,299    
Capital Employed EUR mil ... ... ...                       14,143 15,254 13,485 14,201 14,502    
Net Debt/Equity % ... ... ... ...                     39.6 70.0 84.3 79.0 79.2    
Cost of Financing % ... ... ... ... ...                   4.45 7.37 1.77 3.06 -0.060    
cash flow Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
cash flow                                          
Net Profit EUR mil                             238 180 -524 253 139    
Depreciation EUR mil ... ...                         1,129 706 950 904 1,045    
Non-Cash Items EUR mil ... ... ... ...                     -465 -970 -262 -1,721 -390    
Change in Working Capital EUR mil ... ... ... ...                     -384 12.0 -28.0 -131 368    
Total Cash From Operations EUR mil ... ... ...                       518 -72.0 136 -695 1,162    
Capital Expenditures EUR mil ... ... ...                       -601 -754 -382 -394 -442    
Other Investments EUR mil ... ... ...                       -36.0 -479 -134 816 -50.0    
Total Cash From Investing EUR mil ... ... ...                       -637 -1,233 -516 422 -492    
Dividends Paid EUR mil ... ... ...                       -342 -151 -24.0 -3.00 -4.00   ...
Issuance Of Debt EUR mil ... ... ... ... ...                   321 2,129 246 -687 329    
Total Cash From Financing EUR mil ... ... ...                       58.0 1,753 279 -411 -392    
Net Change In Cash EUR mil ... ... ...                       -61.0 448 -101 -684 278    
ratios                                          
Days Sales Outstanding days ... ... ...                       51.7 49.5 54.0 57.1 51.3    
Days Sales Of Inventory days                             132 133 129 153 177    
Days Payable Outstanding days ... ... ...                       87.5 79.3 79.6 82.3 97.5    
Cash Conversion Cycle days ... ... ...                       96.4 104 103 128 131    
Cash Earnings EUR mil ... ...                         1,367 886 426 1,157 1,184    
Cash Earnings Per Share EUR ... ... ... ...                     9.29 6.03 2.90 7.87 8.05    
Price/Cash Earnings (P/CE) ... ... ... ...                     7.39 13.4 30.8 11.7 11.5    
Free Cash Flow EUR mil ... ... ...                       -119 -1,305 -380 -273 670    
Free Cash Flow Yield % ... ... ... ...                     -1.26 -10.7 -2.79 -2.15 5.18    
other data Unit 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                                          
ROA %                             1.32 0.933 -2.47 1.26 0.780    
Gross Margin %                             41.1 41.5 44.5 48.4 54.0    
Employees ... ... ...                       52,542 54,283 56,102 55,903 55,030    
Cost Per Employee USD per month ... ... ...                       6,821 6,438 6,592 6,570 6,527    
Cost Per Employee (Local Currency) EUR per month ... ... ...                       4,906 5,014 4,966 5,097 5,694    
Staff Cost (As % Of Total Cost) % ... ...                         20.3 21.6 21.4 24.6 27.6    
Effective Tax Rate %                             38.7 39.2 -277 27.3 -75.3    
Enterprise Value (EV) USD mil ... ... ... ...                     15,967 20,858 24,168 21,646 19,639    
EV/EBITDA ... ... ... ...                     4.82 12.2 14.9 12.9 15.1    
EV/Capital Employed ... ... ... ...                     0.871 1.04 1.30 1.26 1.24    
EV/Sales ... ... ... ...                     0.697 1.03 1.15 1.18 1.25    
EV/EBIT ... ... ... ...                     9.14 25.9 67.9 41.9 186    
Domestic Sales EUR mil ... ...                         3,515 3,170 3,570 3,267 3,288    
Capital Expenditures (As % of Sales) % ... ... ...                       3.65 4.78 2.41 2.76 3.23    
Revenues From Abroad EUR mil ... ...                         12,957 12,602 12,291 11,019 10,414    
Revenues From Abroad (As % Of Total) % ... ...                         78.7 79.9 77.5 77.1 76.0    
Price Per Vehicle Sold EUR ... ... ... ... ... ... ... ... ...           105,916 117,487 113,024 117,341 127,406    
EBIT Per Vehicle Sold EUR ... ... ... ... ... ... ... ... ...           8,076 4,678 1,910 3,294 855    
Net Profit Per Vehicle Sold EUR ... ... ... ... ... ... ... ... ...           1,530 1,341 -3,734 2,078 1,292    
Price Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ...           147,265 150,847 150,039 151,251 146,047    
EBIT Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ...           11,229 6,006 2,535 4,246 981    
Net Profit Per Vehicle Sold (USD) USD ... ... ... ... ... ... ... ... ...           2,128 1,722 -4,957 2,679 1,482    
Sales From Automotive EUR mil ... ...                         12,563 11,692 12,207 10,577 9,954    
Production of Vehicles vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... 128,308 124,304 141,211 116,072 100,825 ... ...
Sales of Vehicles vehicles ... ... ... ... ... ... ... ... ...           155,520 134,245 140,333 121,748 107,546    
Employees in Germany ... ... ...                       30,187 30,513 30,296 32,309 31,720 ...  
Production of Trucks vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... 107,985 109,860 126,437 105,740 91,183 ... ...
Production of Buses vehicles ... ... ... ... ... ... ... ... ... ... ... ... ... ... 20,323 16,117 16,080 11,938 10,616 ... ...
Sales of Trucks in Europe vehicles ... ... ... ... ... ... ... ... ...           77,643 74,680 76,268 68,597 73,117 ... ...
Sales of Buses in Europe vehicles ... ... ... ... ... ... ... ... ...           5,775 5,286 5,294 5,025 6,105 ... ...
Sales of Trucks in Latin America vehicles ... ... ... ... ... ... ... ... ... ... ... ...     61,529 56,305 43,102 35,286 16,164 ... ...
Sales of Buses in Latin America vehicles ... ... ... ... ... ... ... ... ... ... ... ...     10,573 16,988 17,255 12,875 8,308 ... ...
Sales of Trucks Total vehicles ... ... ... ... ... ... ... ... ...           139,172 122,977 119,370 103,883 89,281 ... ...
Sales of Buses Total vehicles ... ... ... ... ... ... ... ... ...           16,348 11,268 20,963 17,865 18,265 ... ...
Sales in Europe (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in America (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in North America (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in South America (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in Asia-Pacific (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in Africa (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    
Sales in the Middle East (EUR mil) EUR mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...    

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Oct 2013
Statistical Dossier
Nov 2013
Company Report

MAN's Net Margin rose 1,734% to 2.17% in 2017

By Helgi Analytics - November 05, 2019

MAN SE made a net profit of CZK EUR 311 mil under revenues of EUR 14,342 mil in 2017, up 1828% and 5.74%, respectively, when compared to the last year. This translates into a net margin of 2.17%. Historically, the firm’s net margin reached an all time high of ...

MAN's Net Debt/EBITDA fell 21.4% to 1.42 in 2017

By Helgi Analytics - November 05, 2019

MAN SE's net debt reached EUR 2,319 mil and accounted for 37.9% of equity at the end of 2017. The ratio is up 0.722% when compared to the previous year. Historically, the firm’s net debt to equity reached an all time high of 84.3% in 2013 and an all time low of -...

MAN's Total Cash From Operations fell 67.8% to EUR 268 mil in 2017

By Helgi Analytics - November 05, 2019

MAN SE's operating cash flow reached EUR 268 mil in 2017, down 67.8% when compared to the previous year. Historically, the firm’s operating cash flow reached an all time high of EUR 2,109 mil in 2007 and an all time low of EUR -695 mil in 2014. MAN SE's tota...

MAN's ROCE rose 1,696% to 1.87% in 2017

By Helgi Analytics - November 05, 2019

MAN SE made a net profit of EUR 311 mil in 2017, up 1,828% when compared to the previous year. Historically, company's net profit reached an all time high of EUR 1,233 mil in 2008 and an all time low of EUR -524 mil in 2013. This implies return on equity of 5....

MAN's Capital Expenditures fell 14.3% to EUR 496 mil in 2017

By Helgi Analytics - November 05, 2019

MAN SE invested total of EUR 496 mil in 2017, down 14.3% when compared to the previous year. Historically, company's investments reached an all time high of EUR 754 mil in 2012 and an all time low of EUR 357 mil in 2004. When compared to total sales, in...

MAN's Cash & Cash Equivalents fell 1.76% to EUR 782 mil in 2017

By Helgi Analytics - November 05, 2019

MAN SE's total assets reached EUR 20,282 mil at the end of 2017, up 8.14% when compared to the previous year. Current assets amounted to EUR 6,892 mil, or 34.0% of total assets while cash reached EUR 782 mil at the end of 2017. On the other hand, total debt reached EUR 3,1...

MAN's Share Price rose 1.76% to EUR 94.3 in 2016

By Helgi Analytics - November 05, 2019

MAN SE stock traded at EUR 94.3 per share at the end 2016 implying a market capitalization of USD 14,647 mil. Since the end of 2011, the stock has appreciated by 37.3% implying an annual average growth of 6.55%. In absolute terms, the value of the company ...

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The MAN Group is one of Europe's leading commercial vehicle, engine and mechanical engineering companies, generating annual revenue of around EUR 15.8 billion and employing a workforce of approx. 54,300 worldwide. MAN is a supplier of trucks, buses, diesel engines, turbomachinery and turnkey power plants, with all corporate divisions holding leading market positions. The Company is divided into four main divisions: Commercial Vehicles business area consists of the division MAN Truck & Bus as well as MAN Latin America; and Power Engineering business area includes MAN Diesel & Turbo as well as Renk division. The Company runs production sites worldwide and has operations in 150 countries

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