Disposal of business activities in Russia
Munich, 13 September 2022 – MAN Truck & Bus SE and Scania AB, subsidiaries of TRATON SE, are disposing their sales companies in the Russian Federation to local sales partners. In addition to that Scania AB disposes their Russian financing business. These transactions still require the approval of the supervisory boards of TRATON SE and Volkswagen AG as well as various regulatory authorities in the Russian Federation. The transactions are expected to be completed by the first quarter of 2023. TRATON SE is expected to realise an additional loss of up to EUR 550 million, depending on the development of the exchange rate of the Russian rouble to the euro. Due to the direct impact of the war in Ukraine, asset write-downs and additional expenses of EUR 113 million were already incurred in first half-year 2022. The effect will be reported as an adjustment to the operating result, so this has no impact on the annual forecast for the adjusted operating return in 2022. The annual forecast for the net cash flow of TRATON SE is also not affected by the disposals.
The definition of adjusted operating return can be found on page 37 of the Annual Report 2021 (https://ir.traton.com/websites/traton/English/3000/reports-_-presentations.html).
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