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    8TRA   DE000TRAT0N7

TRATON SE

(8TRA)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 11/29 04:00:02 pm
20.99 EUR   +0.05%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Traton : MAN targets profit margin boost in e-truck overhaul -CEO

09/30/2021 | 11:43am EST
FILE PHOTO: Logo of  German truckmaker MAN, is pictured at the IAA truck show in Hanover

BERLIN (Reuters) - German truckmaker MAN, owned by Volkswagen's Traton division, aims to significantly raise its profit margin by 2023 as it restructures to adapt to the electric age, its chief executive said.

Andreas Tostmann, in an interview with Reuters, did not quantify where margins would stand in two years compared with the 3.3% it achieved in the first six months of 2021.

The division in March said it aimed for a margin of 8% over the full business cycle, leaving open when that would be.

Seen as the problem child at Traton, in which Volkswagen owns a 89.72% stake, MAN lags far behind Traton's Swedish subsidiary Scania, which had a first-half profit margin of 12%.

Traton late on Wednesday unveiled a reshuffle of top management that saw the resignation of CEO Matthias Gruendler, who will be replaced by Scania boss Christian Levin.

Tostmann, who has cut 350 jobs and closed two MAN factories as part of a restructuring, added that MAN was working towards generating the same profit from electric vehicles as diesel vehicles, without specifying when he expected this to occur.

Customers would expect cost parity between electric and diesel vehicles to be reached by the end of the decade, with two fifths of trucks on the road fully electric - rising to 60% among smaller vehicles, he said.

"Our customers demand a product with the same costs as a diesel vehicle or lower," Tostmann said.

The company is also experimenting with autonomous driving, he said, and is testing one truck model in the port of Hamburg with the aim of developing a vehicle which could drive at the same speed as a human-driven truck on the road.

(Writing by Victoria Waldersee; Editing by Christoph Steitz, Kirsten Donovan)

By Christina Amann


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TRATON SE -0.19% 20.94 Delayed Quote.-7.19%
VOLKSWAGEN AG 0.35% 164.52 Delayed Quote.7.56%
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Analyst Recommendations on TRATON SE
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Financials
Sales 2021 28 868 M 32 583 M 32 583 M
Net income 2021 1 162 M 1 311 M 1 311 M
Net Debt 2021 9 862 M 11 131 M 11 131 M
P/E ratio 2021 9,48x
Yield 2021 3,40%
Capitalization 10 470 M 11 800 M 11 817 M
EV / Sales 2021 0,70x
EV / Sales 2022 0,59x
Nbr of Employees -
Free-Float 10,3%
Chart TRATON SE
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Technical analysis trends TRATON SE
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 20,94 €
Average target price 29,21 €
Spread / Average Target 39,5%
EPS Revisions
Managers and Directors
Christian Levin President & Chief Executive Officer
Annette Danielski Chief Financial Officer
Hans Dieter P÷tsch Chairman-Supervisory Board
Gunnar Kilian Member-Supervisory Board
Mari Carlquist Member-Supervisory Board
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