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MAN GRI Report 2017 OVERVIEW MAN GRI Report Corporate Responsibility at MAN 2017 Engineering the Future – since 1758. MAN SE 2 MAN GRI Report 2017 OVERVIEW Overview PAGE 01 PAGE 02 PAGE 05 Foreword FOREWORD PORTRAIT OUR APPROACH Portrait OF THE Our approach MAN GROUP Products Production Supply chain PAGE 09 PAGE 18 PAGE 27 PAGE 31 PAGE 44 People PRODUCTS PRODUCTION SUPPLY CHAIN PEOPLE SOCIETY AND Society and integrity INTEGRITY Annex PAGE 50 OVERVIEW OF KEY INDICATORS ANNEX GRI CONTENT INDEX AND UN GLOBAL COMPACT COMMUNICATION ON PROGRESS INDEPENDENT PRACTITIONER’S LIMITED ASSURANCE REPORT ABOUT THIS REPORT CREDITS & ADDITIONAL INFORMATION 01 MAN GRI Report 2017 Foreword Dear Readers, MAN’s business success is closely linked to global challenges and mega- needs on site. The twin 2.5 megawatt natural gas units mark a significant Overview trends. Climate change and digitalization have a direct impact on our milestone in MAN’s Climate Strategy. Foreword business model. We need to be agile if we want to shape the fundamentally Our MAN Impact Accelerator program, which we launched in 2017, changing mobility world of tomorrow. The development of alternative supports social startups in the transportation sector that are coming up Portrait drive systems and transportation and energy solutions that are fit for the with new ideas in response to global population growth and urbanization. Our approach future is at the heart of our work. We initiated the program in collaboration with the Yunus Social Business Electricity is set to be the drive technology of the future – at least Initiative launched by Nobel Peace Prize winner Muhammad Yunus. Eight Products around town and on shorter journeys. We are preparing for the volume companies from Europe, India, and South Africa were awarded funding in production of purely electric city buses and trucks. As we move toward the fall of 2017 following an intensive application phase. Production future-proof mobility solutions, public transportation companies and One particular focal point of our social commitment is education Supply chain fleet operators are still faced with challenges extending beyond the actual as a human right. We see education as the basis for social participation and vehicle. This motivated us to set up a specialized consultancy team in the as a prerequisite for successful integration. MAN stepped up its refugee People year under review: in addition to vehicle-related questions, MAN Trans- integration activities further in 2017, helping 89 migrants gain a foothold Society and integrity port Solutions also covers aspects relating to infrastructure, energy in the working world by offering them initial vocational training, appren- requirements, maintenance, and fleet. This underpins our transformation ticeships, and internships. Annex from a commercial vehicle manufacturer to a provider of smart and sus- Our CR Strategy 2020+ provides a roadmap for sustainable develop- tainable transportation solutions. ment, while this report makes our contribution transparent and presents MAN is helping to make climate-friendly shipping reality with its both the progress made and the challenges that lie ahead. Prepared in dual-fuel engines, which are capable of operating on both gaseous and accordance with the standards of the Global Reporting Initiative and liquid fuels. The retrofitting of conventional marine engines plays a deci- checked by an independent auditing firm, it presents performance indica- sive role in this respect: switching to liquefied natural gas (LNG) allows tors and data that are relevant to sustainable business practices. And it nitrogen oxide and sulfur emissions, as well as CO₂ emissions, to be sig- outlines the ways in which we live up to our commitment to the Ten Prin- nificantly reduced. In the year under review, MAN successfully completed ciples of corporate responsibility defined by the UN Global Compact. We the world's first conversion of a container ship to dual-fuel operation. hope that you will find this report informative. For us, climate protection begins in-house: we have moved a step closer to reaching our climate goal for our production operations – a 25% Sincerely, reduction in CO₂ emissions by 2020. Compared with the base year of 2008, our CO₂ emissions were down by 23.7% in the year under review. This development was helped along by our combined heat and power plant in Munich, for example, which enables us to generate up to 20% of our power Joachim Drees Chief Executive Officer of MAN SE 02 MAN GRI Report 2017 Portrait of the MAN Group WE PROVIDE EFFICIENT TRANSPORTATION AND ENERGY SOLUTIONS Overview 2017 2017 Foreword Portrait Our approach Products 54,297employees worldwide 30production sites in 14 countries Production Supply chain People Society and integrity Annex €14.3billion sales revenue €16.1billion order intake 4divisions: MAN Truck & Bus MAN Latin America MAN Diesel & Turbo €566million operating profit Renk For more information: www.corporate.man.eu 03 MAN GRI Report 2017 Portrait of the MAN Group The MAN Group focus on transportation and energy. Technology leadership remains a key Overview The MAN Group is one of Europe's leading commercial vehicle, engine, factor in the success of MAN. We develop innovative products and solu- Foreword and mechanical engineering companies. As a producer of trucks, buses, tions that meet the needs of customers and markets – while focusing on vans, diesel engines, turbomachinery, and special gear units, we hold lead- reducing fuel consumption and emissions and on generating energy Portrait ing market positions in all our divisions. efficiently, reliably, and ecologically. In addition, MAN is moving to lever- Our approach age the opportunities of digitalization and to unlock new potential Long-term growth strategy through new business models based on innovative mobility solutions. Products Global demand for innovative solutions in the transportation and energy sectors will continue to rise overall. This means that going forward, the Production MAN Group will continue to pursue its profitable growth strategy with a Supply chain People The divisions Society and integrity Annex Commercial Vehicles Power Engineering MAN Truck & Bus MAN Latin America MAN Diesel & Turbo Renk (76%) is the largest company in the MAN Group is one of the largest truck manufacturers is one of the world's leading suppliers is a globally recognized manufacturer of and a leading supplier of commercial in Brazil. Three of the five best-selling of large-bore diesel and gas-powered high-quality special gear units, propulsion vehicles and transportation solutions. The truck models in Brazil are made by engines and also one of the leading sup- components, and testing systems. new TGE makes MAN a full-range provider MAN Latin America. The company is a pliers of turbomachinery on the global of commercial vehicles weighing from supplier of commercial vehicles and bus market. 3 t through 250 t. chassis for growth markets, marketed under both Volkswagen and MAN brands. 2017 sales revenue €10,037 million €1,141 million €2,832 million €469 million 04 MAN GRI Report 2017 Portrait of the MAN Group Economic environment The MAN Group’s operating return on sales increased noticeably from Overview The global economy picked up speed in 2017, driven by growth in 1.5% to 3.9%. MAN does not take extensive measures to optimize its taxes. Foreword economic activity worldwide. In light of this, demand improved in many Further information on our financial performance is available in our markets that are relevant for the MAN Group. At the same time, competi- 2017 Annual Report. Portrait tion remained intense and price pressure was again high. As expected, Our approach 2017 was thus both a challenging and an eventful year for us. Volkswagen AG’s stake in MAN SE Demand for trucks, vans, and buses in the Commercial Vehicles A domination and profit and loss transfer agreement (DPLTA) between Products business area recorded largely positive growth in key regions. Following Truck & Bus GmbH (now Volkswagen Truck & Bus GmbH), a wholly owned the strong recovery in the previous year, the European commercial vehi- subsidiary of Volkswagen AG, and MAN SE was entered into the commer- Production cles market was unchanged at a high level. The Latin American economy cial register on July 16, 2013, and has been effective since that date. On Supply chain bottomed out, and exports from Brazil accelerated. The Brazilian commer- December 31, 2017, Volkswagen Truck & Bus GmbH held 75.73% of MAN SE’s cial vehicles market experienced a strong upward trend in the second half voting rights and 74.55% of its share capital. On December 31, 2017, 24.27% People of the year. Russia also recorded growth, and developments in China and of MAN’s common shares were in free float. Society and integrity India, too, were positive. The situation improved slightly in the Power Engineering business Capital expenditures Annex area, but remained strained overall. The marine market and the market for In the 2017 fiscal year, the MAN Group incurred capital expenditures total- turbomachinery posted moderate growth at a low level. ing €845 million, as against €861 million in the previous year. Investments Given this difficult environment, the MAN Group performed well in intangible assets increased, while investments in property, plant, and in 2017: we generated Group sales revenue of €14.3 billion in the year equipment were down on the previous year's level. In view of the challeng- under review, up by a considerable 5.1% on the previous year. Our operat- ing economic environment, we are reviewing planned capital expendi- ing profit came to €566 million, which represents an improvement of tures with particular scrutiny and prioritizing them systematically. We are some €362 million. We paid out guaranteed dividends to our shareholders deliberately retaining the necessary capital expenditures that will lead of €3.07 per share in 2017. to long-term growth and have the potential to improve our operational efficiency.
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