MAN chief executive Hakan Samuelsson has said that he is not concerned that Scania will make a counter bid for MAN, following its failed takeover bid for Scania.
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Samuelsson told Reuters that his defence strategy is to ensure that the share price remains strong through continual improvement at the company.
He also confirmed that all parties are still in talks about a merger of MAN and Scania and that his company will be patient as long as the other parties are involved.
MAN has just reported best-ever annual results. Operating profit in 2006 was up 64% to EUR1.1bn, and return on sales was 8.5%, up from 5.9% in the previous fiscal year. Commercial vehicle sales were up 18%, and order intakes up 22%.
The sales figures for 2006 excluded a mega order from the British Ministry of Defence for EUR262m.
For 2007 MAN Group expects a further 5% sales growth and return on sales to reach 9%. Growth should come from central and eastern Europe plus Russia, the Middle East, and parts of Asia. These markets will be served from a new plant in Krakow, Poland and the new joint venture in India with Force Motors.
MAN also said it would rigorously expand alliances such as with US supplier Navistar. At the same time it is targeting talks with Scania and Volkswagen on joint operations.
The commercial vehicles division, MAN Nutzfahrzeuge, achieved a EUR670m operating profit, up by EUR201m and a new all-time high. Operating profit was EUR632m, up EUR199m on a year earlier. Return on sales in the truck division was 8.8%, up from 7% a year earlier.
