Scania Interim Report January-September 2012
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Scania Interim Report January-September 2012

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Scania Interim Report January-September 2012 Scania Interim Report January-September 2012 Presentation Transcript

  • Interim Report, January–September 2012Erik Ljungberg Corporate Relations Ljungberg,1
  • OutlookMartin Lundstedt President and CEO Lundstedt,2
  • Business overview – first 9 months of 2012  European truck order bookings weak in Q3  Brazil supported by strong incentives at the end of Q3  Uncertain outlook and currency head-wind  Increased focus on volume flexibility, efficiency and cost control3
  • Europe Scania trucks order bookings trucks, Units 10,000 ’ Lower level of order 9,000 ’ bookings 8,000 ’ No normal pick-up 7,000 ’ 6,000 in September ’ 5,000 ’ Low economic 4,000 4 000 ’ activity and hesitant 3,000 ’ customers 2,000 ’ 1,000 ’ 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2011 2011 2011 2011 2012 2012 20124
  • Latin America Scania trucks order bookings trucks, Units 6,000 ’ Transition to Euro 5 and weaker 5,000 ’ economy in Brazil 4,000 4 000 ’ Extensive incentives 3,000 impacted positively ’ at end of Q3 t d f 2,000 ’ 1,000 ’ 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2011 2011 2011 2011 2012 2012 20125
  • Eurasia Scania trucks order bookings trucks, Units 3,000 ’ Good level of demand in Russia 2,500 ’ 2,000 2 000 ’ 1,500 ’ 1,000 ’ 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2011 2011 2011 2011 2012 2012 20126
  • Asia Scania trucks order bookings trucks, Units 5,000 ’ Middle East lower in 4,500 ’ Q3 and uncertain 4,000 ’ outlook 3,500 ’ 3,000 First half of 2012 ’ 2,500 impacted by major ’ 2,000 2 000 order to China d t Chi ’ 1,500 ’ 1,000 ’ 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2011 2011 2011 2011 2012 2012 20127
  • Buses and coaches Scania buses and coaches order bookings coaches, Units  Weak demand  Reduced production of buses in Poland 2011 2011 2011 2011 2012 2012 20128
  • Engines Scania engines order bookings engines, Units  Significantly lower demand in all regions during Q3 2012  Industrial OEM segment weaker t k 2011 2011 2011 2011 2012 2012 20129
  • Investments for long-term growth  Research and Development  Production capacity  Sales and Services capacity in emerging markets10
  • Mining segment Large order from Peab/Northland in Q3  Order worth SEK 1.5 15 bn over 10 years  400 truck and trailer combinations and services  Mileage 400,000 km per year, GVW up to 90 tonnes11
  • Euro 6 range 73016 520 5 0 580 48013 440 410 3709 320 360 SCR only 280250
  • Euro 6 range 73016 520 5 0 580 48013 440 410 3709 320 360 340 280 gas, biogas ethanol 280250 280 gas, biogas
  • Summary  L Lower l level of d l f demand except for trucks in d tf t k i Latin America  Uncertain outlook and currency head-wind  Increased focus on volume flexibility, y, efficiency and cost control  Investments for long-term growth14
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  • Interim Report, January–September 2012Jan Ytterberg, CFO Ytterberg16
  • First nine months of 2012 – highlights  Significantly lower vehicle deliveries  Service revenue stable  Higher cost level17
  • Volume trend Total deliveries, trucks and buses deliveries Units 24,000 Europe and the Middle East at lower 20,000 levels 16,000 16 000 Low utilisation of 12,000 production capacity 8,000 4,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2008 2009 2010 2011 201218
  • Service revenue SEK m. 5,000 Europe decreasing – southern region 4,000 weak 3,000 Negative impact from currency 2,000 2 000 Addressing structure in certain 1,000 European markets E k 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2008 2009 2010 2011 201219
  • Earnings trend Operating income, Scania Group income SEK m. Percent 4,500 20 Net sales -12% Operating income O ti i Operating margin O ti i 4,000 18 9 mth 2012 and 16 -15% in Q3 3,500 14 3,000 EBIT margin 10.7% 2,500 12 10 (14.9) 9 mth 2,000 8 1,500 EBIT margin 10.5% 6 1,000 (14.2) in Q3 4 500 2 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2008 2009 2010 2011 201220
  • Operating income Vehicles and Services EBIT decrease due to: – Deliveries – Capacity utilisation EBIT decrease: – Cost level SEK 3,592 m., - Deliveries 9 mth 2012 - Capacity p y – Price - Costs - Price21
  • Currency exposure in operating income22
  • Cash flow Vehicles and Services SEK m. 4,000 Higher working capital in Q3 3,000 Tax payment in 2,000 2 000 Brazil in Q1 1,000 Cash flow 0 SEK 407 m. in Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2008 2009 2010 2011 2012 -1,000 -2,00023
  • Net debt Vehicles and Services SEK m. 12,000 100% Net cash 10,000 Net debt Net debt/equity ratio 80% SEK 8,573 m. 8,000 60% (Net cash SEK 6,000 40% 10,615 10 615 m. 4,000 2,000 20% at end of 2011) 0 0% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Di id d payment Dividend t 2 000 -2,000 -20% -4,000 SEK 4 bn in Q2 -40% -6,000 -60% 8 000 -8,000 -10,000 -80% -12,000 -100%24
  • Volume trend Credit portfolio Financial Services portfolio, SEK m. Portfolio +6% +6%* 50,000 , 45,000 since end of 2011 40,000 Operating income 35,000 35 000 SEK 433 m. (363) in 30,000 9 mth 2012 25,000 20,000 20 000 Increased bad debt 15,000 in southern Europe 10,000 during d i Q3 5,000 0 1998 2000 2002 2004 2006 2008 2010 2012 *In local currencies In25
  • Summary  Significantly lower vehicle deliveries  I Increased focus on volume flexibility, df l fl ibilit efficiency and cost control26
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