German commercial vehicle manufacturer MAN Truck & Bus has reported robust financial and operational results for 2025, marking the third consecutive year of stable performance despite a challenging market environment.
The company recorded sales revenue of €14.1-billion (R272-billion) in 2025, representing a 3% increase compared with the previous year.
The growth was largely driven by a favourable product mix and strong demand in certain vehicle segments.
Total vehicle sales rose by 6% to 101,600 units, supported mainly by strong demand for buses and vans.
While demand for trucks remained stable in the company’s core European markets, overall volumes in the segment continued to operate at relatively low levels.
Order intake for the year also showed significant momentum, climbing 30% year-on-year to nearly 100 000 units, reflecting improving market confidence and continued customer demand for the company’s commercial vehicles.
Adjusted operating profit remained broadly stable at €904 million (R17.4 billion), slightly down from €919-million in 2024, while the adjusted operating return stood at 6.4%, compared with 6.7% the previous year.
Resilience in tough market conditions
MAN Truck & Bus CEO Alexander Vlaskamp said the results demonstrate the company’s resilience in a difficult market environment.
“This is the third year in a row that we have achieved robust results despite persistently weak truck markets in Europe,” he said.
“It is paying off that, as a full-range supplier, we are able to balance developments across our truck, bus, van and external engine business units while continuously expanding our service offerings.”
The company also highlighted significant progress in the transition toward electric mobility. Sales of fully electric trucks and buses surged 168% to 1,970 units during the year.
Electric city buses recorded particularly strong demand, with more than 1,300 units sold, representing a 118% increase compared with the previous year.
The company also sold over 620 electric trucks following the successful launch of its eTruck model.
Chief financial officer Inka Koljonen said the company’s profitability and cash flow performance reflected the success of its restructuring efforts and cost management initiatives.
“We have achieved very stable profitability and excellent cash flow results for three years in a row,” Koljonen said.
Continued growth anticipated
Looking ahead to 2026, the company expects a slight recovery in demand in Europe’s core truck markets, while demand for buses and vans is likely to remain strong.
MAN also anticipates continued growth in electric mobility as regulatory and market conditions improve.
In South Africa, MAN Truck & Bus remains an important player in the commercial vehicle sector, having sold 1 479 commercial vehicles locally in 2025.
The company is also preparing to expand its electric vehicle portfolio further this year, including the launch of new electric distribution trucks and the introduction of the MAN eCoach, a battery-electric coach aimed at transforming long-distance passenger transport.
At the same time, MAN will continue strengthening its traditional heavy-duty truck offering, including a new tractor unit designed for trailer weights of up to 250 tons, reinforcing its position in the top tier of global commercial vehicle manufacturers.
