MAN results in Q1 2026: revenues at €3.3 billion (growing 8%), bus segment up 6%

MAN Truck & Bus reported €3.3 billion in revenue in the first quarter of 2026, with bus deliveries increasing (although less than truck ones) and electric vehicle volumes expanding +44%.

The first quarter of fiscal year 2026 confirms continued growth across MAN Truck & Bus operations, with increases recorded in revenue, sales volumes, and profitability indicators. The company reported revenue of €3.3 billion, representing an 8% increase compared to the same period in 2025, alongside total vehicle sales of 23,600 units, up 14% year-on-year. Order intake reached 27,850 units, remaining aligned with the previous year’s level despite ongoing market uncertainty.

The manufacturer recently announced that it is teaming up with Adastec to launch automated Lion’s City E pilot in Munich.

MAN results in the Q1 2026 are out!

Within the overall sales structure, the bus segment recorded 1,462 units delivered in the first three months of 2026, compared to 1,381 units in the first quarter of 2025, marking a 6% increase. This follows a broader pattern of expansion in MAN’s bus operations, which had already shown higher delivery volumes in previous reporting periods, including a 50% increase in 2025. However, it must be cleared that bus volumes cover roughly 6% of total MAN sales.

The bus segment contributes to the group’s diversified portfolio, which includes trucks and light commercial vehicles such as the MAN TGE van range. In Q1 2026, van deliveries reached 7,555 units, up 5% year-on-year, while trucks accounted for the largest share of growth with 14,583 units delivered, representing a 21% increase.

Across all segments, the book-to-bill ratio stood at 1.2, compared to 1.4 in the same period of the previous year.

MAN also reports an adjusted operating profit of €239 million for the first quarter of 2026, compared to €133 million in Q1 2025. The adjusted operating return on sales increased to 7.2%, up from 4.3% in the prior-year period.

Revenue from new vehicle sales reached €1.934 billion, reflecting a 12% increase, while the vehicle services business generated €771 million, up 2%. Other revenue streams accounted for €605 million, also increasing by 2%.

MAN electric vehicle deliveries

Electric vehicle deliveries rose by 44% in Q1 2026 to 540 units, including 340 electric trucks. The increase in zero-emission vehicle volumes is recorded across MAN’s product range, which includes electric buses as part of its transition strategy.

MAN Chief Financial Officer Inka Koljonen says: “MAN continues to deliver consistently strong results and demonstrate profitable growth. This is the result of our joint, consistent transformation efforts and the continuous improvements we’ve made in the areas of costs and cash flow over the past few years. I would like to thank all our employees, as well as our customers and partners, for their trust in our products. Given the recent resurgence of geopolitical uncertainties, we remain just cautiously optimistic about 2026 as a whole, even though we have recently seen a slight recovery in our core European markets. We are continuing to work on further improving our resilience.”