MAN Reports First-Quarter Loss

German truck maker MAN SE posted a first-quarter loss as expenses rose and sales declined, Bloomberg News reported.

Europe’s third-largest maker of commercial vehicles lost 82 million euros (about $107 million) compared with a profit of 254 million euros ($333 million) a year ago.

MAN said it expects a “significant” drop in 2013 operating profit and a return on sales “well below” the 2012 figure, Bloomberg reported.

Sales fell 7.6% to about $4.7 billion, while new orders fell 14% to $4.9 billion, though MAN boosted its full-year revenue forecast for the year, Bloomberg reported.

Automobile and truck manufacturer Volkswagen AG, which already owns about 75% of MAN, moved last week to fully control MAN.