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ANNUAL REPORT Engineering the Future – since 1758. MAN SE The MAN Group is one of Europe’s leading players in the commercial vehicle industry. It aims to offer innovative transportation solutions for its customers as well as generating profitable international growth and a sustained increase in its enterprise value. II MAN AT A GLANCE 2018 ORDER INTAKE INCREASED SHARPLY 13.9 € billion [ 2017: €12.4 billion ] SALES REVENUE SIGNIFICANTLY ABOVE THE PREVIOUS YEAR 12.1 € billion [ 2017: €11.1 billion ] SLIGHT DECLINE IN OPERATING PROFIT 332 € million [ 2017: €358 million ] DECLINE IN OPERATING RETURN ON SALES 2.7 percent [ 2017: 3.2% ] POSITIVE NET CASH FLOW +0.4 € billion [ 2017: €–0.3 billion ] III Group key figures (IFRSs) Change € million 2018 2017 in % Order intake 13,913 12,397 12% Germany 3,911 3,268 20% Other countries 10,002 9,129 9% Sales revenue 12,104 11,087 9% Germany 3,194 2,961 8% Other countries 8,910 8,126 10% Order backlog 1 3,770 3,000 26% Headcount 1 38,430 54,297 –29% Change Income statement in € million Operating profit 332 358 –26 Operating return on sales in % 2.7 3.2 –0.5 Profit before tax from continuing operations (EBT) 562 327 235 Profit after tax 686 321 365 Balance sheet Total assets 1 19,751 20,282 –531 Total equity 1 5,685 6,125 –440 Equity ratio in % 1 28.8 30.2 –1.4 Net financial debt 1 –3,051 –2,291 –760 Cash and cash equivalents 1 1,150 782 368 Cash flow Gross cash flow — continuing operations 1,435 1,132 304 Change in working capital — continuing operations –820 –829 9 Net cash used in investing activities attributable to operating activities –235 –628 393 Net cash flow — continuing operations 380 –326 706 Change Shares in € Earnings per share from continuing operations in € 2.97 1.06 1.90 Annual cash compensation payment/guaranteed dividend per share (in €) 2 5.10 5.10 – 1 As of December 31, 2018, vs. December 31, 2017 2 MAN SE does not distribute any further dividends from fiscal 2014 onward as a result of the DPLTA, which was in force until December 31. Instead, TRATON SE has agreed to make annual cash compensation payments of €5.10 per common or preferred share for the full fiscal year to MAN SE free float shareholders for the duration of the DPLTA, starting in fiscal 2014. IV The electric vehicle family: the MAN Lion’s City E, HIGHLIGHTS 2018 the MAN eTGE, and the MAN eTGM (from left to right) ↓ ELECTRIFYING PERFORMANCE MAN Truck & Bus scores points at the IAA Commercial Vehicles in Hanover with record trade fair sales and numerous innovations. New electric vehicles, in particular, were in the spotlight. MAN Truck & Bus sold around 11,000 trucks, buses, and vans at the IAA in September 2018, making it the company’s most successful trade fair of all time. One of the most important issues on the agenda at this trade show for commercial vehicles in Hanover? Electric mobility in an urban setting. MAN Truck & Bus presented a large number of innova- tive vehicles. The world premiere of the 15-ton fully electric MAN CitE, designed con- sistently to suit urban delivery needs, saw MAN set new standards in safety, ergonomics, and eco-friendly transportation. The concept truck electric van that went on sale at the IAA 2018 when boasts a range of at least 100 kilometers, enough for driving around the first four vehicles were handed over to Berlin’s the city for a day. It stands out thanks to its ergonomic design with an public transportation operator BVG. extremely low entry height and an even driver cab floor. In addition, large For the bus market, MAN Truck & Bus debuted the side windows and supporting cameras give drivers and passengers an MAN Lion’s City E, the fully electric version of its new all-round safe view of the traffic around them. city bus. It offers a reliable range of 200, even up to The MAN CitE bridges the gap between the MAN eTGM, an electric 270 kilometers if conditions are favorable, across the truck with a permissible gross vehicle weight of 26 tons that is already entire battery life cycle. As part of several field tests, being put through its paces on Austrian roads, and the MAN eTGE, an a demo fleet’s suitability for daily use will be examined from mid-2020 onward in cooperation with various European operators. Serial production is scheduled to start in the second half of 2020. The fully electric MAN CitE is lead- ing the way in all things safety and ergonomics. ← V Since introducing its new brand, digital platform for logistics appli- OPTIMIZATION MAN DigitalServices, in the fall of cations. In addition to mainte- 2018, MAN Truck & Bus has been nance management services, the offering digital services exclusive electronic marketplace can also be MADE EASY to MAN vehicles, enabling cus- used to book and manage applica- Intelligent digital services are making modern-day tomers to make their trucks even tions for improving vehicle analysis fleets even more cost-efficient and eco-friendly. more cost-efficient, eco-friendly, and performance, as well as driver Exclusive services are now on offer for and safer. MAN DigitalServices is performance. MAN Truck & Bus customers. powered by RIO, the cloud-based PRECISION IN THE VIRTUAL CAVE Remedying faults before the first prototype is even built is now possible thanks to the virtual test lab at MAN Truck & Bus. MAN Truck & Bus’s new trucks and buses take shape in the CAVE well before the first physical prototype is built. “CAVE” stands for “Cave Automatic Virtual Environment.” The 3D test lab, a 46-square- meter high-tech creative design facility in Munich, is equipped with five high-performance computers that include high-end graphics cards, infrared cameras, and stereo projectors featuring 2K image resolution for four large screens. The precision work that takes place in the CAVE cuts lead development time and optimizes the production process. This enables up to 50% of all deviations to be eliminated before a prototype is built. “The advantage of virtual reality is that it saves us time, material, and a lot of money,” com- Employees at ments Martin Raichl, Advance Development and the CAVE virtual Prototyping Engineer at MAN Truck & Bus. It also lab work on new makes working on the same virtual model from dif- vehicles in 3D. ferent countries possible, since the CAVE is con- ← nected to other MAN labs. DIGITALLY The MAN Truck & Bus truck platoon is in oper- ation on its digital test NETWORKED TRUCK site, the A9 highway. CONVOY ON THE A9 A visionary research project has now become reality: the MAN Truck & Bus truck platoon is on the road and being tested in daily logistics operations — a one-of-a-kind practical experiment. Together with logistics provider DB Schenker and the Fresenius University of Applied Sciences, MAN Truck & Bus has launched two digitally net- worked trucks on its digital test site, the A9 highway between Munich and Nuremberg. Platoons carrying loads have been in operation along this 145-kilometer route every day since the fall of 2018. Joachim Drees, CEO of MAN SE and MAN Truck & Bus AG, on this unique practical test world- wide: “The findings from this joint project are an impor tant step toward series development. This will give MAN a leading role in the automation and digitalization of commercial vehicles.” During the practical testing phase, the platooning technology will be further optimized, for example with regard to system safety and fuel consumption. km test route VI MAKE WAY FOR THE DRIVERLESS LIFESAVER MAN Truck & Bus receives the 2019 Truck Innovation he accepted the award, MAN CEO Award for its fully automatic safety vehicle. The Joachim Drees said: “This system The 2019 Truck Innovation Award truck has already been put through its paces in has already been tested under goes to the MAN aFAS safety an on-road trial that went off without a hitch. real conditions on the highways in vehicle. Hesse. As you can see, we’re not Winning the jury over: MAN aFAS, the automated just talking about innovation, we’re and driverless safety vehicle for roadwork on German living it.” The members of the jury highways, received the Truck Innovation Award also highlighted that the aFAS has in September 2018. The unmanned vehicle — an the potential to save lives since MAN TGM 18.340 — slowly drives behind mobile mobile construction sites on high- construction sites, with car-to-car communication ways pose a considerable risk of enabling it to follow the vehicle in front, which is used accidents for the people working in the breakdown lane on highways. on them. It took MAN Truck & Bus four years to develop this The aFAS project was completed innovative safety solution with the support of the successfully in June 2018. MAN German Federal Ministry for Economic Affairs and intends to use the insights it has Energy and with the involvement of technical insti- gained as a result of this process tutions and numerous supplier partners. The jury in future series development and to praised the fact that the MAN aFAS has already been support further test and research tested on over 4,000 kilometers of public roads with- projects on the subject of auto- out any incidents, as well as its straightforward han- mated and autonomous driving, dling and the extensive use of serial components. As such as platooning. OFF TO A QUIET START Nine partner companies from the Council for Sustainable Logistics test modern electric trucks from MAN Truck & Bus on Austrian roads in everyday logistics operations.
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    Ammonia = Hydrogen 2.0 Conference in Melbourne 22 - 23 August 2019 Lars Bryndum 22nd Aug 2019 MAN Energy Solutions Agenda: 1 MAN Energy Solutions 2 Two-stroke marine dual fuel engines 3 Ammonia as fuel and cargo 4 Market drivers NH3 - H2 co-agency, Melbourne 22 Aug 2019 The history of MAN Energy Solutions History of mergers and acquisitions in heavy industries. 1758: St. Antony 1840: Sandersche 1841: Eisengießerei u. Eisenwerke, Masch.fabrik Masch. fabrik Klett & Comp., Oberhausen Augsburg Nürnberg 1873: Börsengang der 1908: M.A.N. Masch.fabrik Gutehoffnungshütte Augsburg-Nürnberg (GHH) 1865: Burmeister and Wain is 1921: GHH acquires majority founded share of M.A.N. 1980: M.A.N. acquires Burmeister and Wain Diesel A/S 1986: M.A.N. merges with GHH, renamed MAN AG 2007: Volkswagen AG becomes main shareholder of MAN AG 2011: MAN becomes part of the Volkswagen Group 2018: MAN Energy Solutions leaves MAN and becomes a subsidiry of VW Member of the Volkswagen group MAN Energy Solutions is part of a brand family Automotive Division Financial Services Division Passenger Cars Business Area Commercial Vehicles Business Area Power Engineering Business Area MAN Dealer and customer financing VW VWN Energy Solutions Leasing Audi Scania Renk Direct bank Insurance MAN Skoda Truck & Bus Fleet management Mobility offerings Seat Bentley Porsche Others NH3 - H2 co-agency, Melbourne 22 Aug 2019 MAN Energy Solutions - strategic business areas 2018 key figures Engines & Marine Systems Power Plants Turbomachinery Aftersales MAN PrimeServ NH3 - H2 co-agency, Melbourne 22 Aug 2019 MAN Energy Solutions New Name New Strategies MAN Power-to-X (PtX) New partners for PtX: • H-TEC SYSTEMS • Hydrogenious LOHC Technologies and Frames Group B.V.