Scania Interim Report Q3 2010 Presentation
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Scania Interim Report Q3 2010 Presentation

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Scania Interim Report Q3 2010 Presentation Scania Interim Report Q3 2010 Presentation Presentation Transcript

  • Press conferenceErik Ljungberg Corporate Relations Ljungberg,1
  • Interim Report, January-September 2010Jan Ytterberg, CFO Ytterberg2
  • First nine months of 2010 – highlights  R Record high operating margin in Q3 d hi h ti i i – Sharp increase in deliveries – Significantly higher capacity utilisation – Currency effects incl hedging y g g  Cash flow of SEK 8,388 m. (Vehicles and Services) in the first nine months3
  • Volume trend Total deliveries, trucks and buses deliveries Units 24,000 Deliveries +47% 20,000 in 9 mth 16,000 16 000 Significantly 12,000 higher production rate t 8,000 High deliveries in 4,000 Q3 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2008 2009 20104
  • Service revenue SEK m. 5,000 Volume increase ~10% 4,000 Improved capacity 3,000 utilisation 2,000 , Negative impact from currency 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2008 2009 20105
  • Earnings trend Operating income, Scania Group income SEK m. Percent 4,500 20 Operating income Operating margin Net sales +27% 4,000 18 9 mth 2010 3,500 16 14 3,000 3 000 EBIT margin 16.2% 2,500 12 (2.4) 9 mth 2010 2,000 10 8 EBIT margin 18.3% 1,500 6 (3.9) Q3 2010 1,000 4 500 2 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2008 2009 20106
  • Operating income Vehicles and Services EBIT increase due to: – Volume + Volume + Capacity – Capacity utilisation EBIT increase: + Currency – Currency effects SEK 7,806 m. + Efficiency – Cost efficiency 9 mth 2010 - Mix Negative impact: – Mi Mix7
  • Cash flow Vehicles and Services SEK m. 4,000 4 000 Improved 3,000 ea earnings gs 2,000 Lower working 1,000 capital Q4 0 Low level of Q1 Q2 Q3 Q4 2006 Q1 Q2 Q3 Q4 2007 Q1 Q2 Q3 2008 Q1 Q2 Q3 Q4 2009 Q1 Q2 Q3 2010 investments - 1,000 , - 2,000 Note: Excluding acquisitions/divestments and Financial Services8
  • Net debt Vehicles and Services SEK m. Percent 10,000 10 000 100 Net debt Net debt/equity ratio Net cash SEK 8,000 80 4,134 m. 6,000 60 (Net debt 4,038 4,000 40 end of 2009) 2,000 20 2006 2007 Conservative 0 2000 2001 2002 2003 2004 2005 2008 2009 0 refinancing -2,000 -20 approach -4,000 -40 40 2010 Q3 -6,000 -609
  • Volume trend Credit portfolio Financial Services portfolio, SEK m. Portfolio -5%, 5% 50,000 50 000 45,000 local currencies 40,000 Lower but still 35,000 35 000 high bad debt 30,000 expenses 25,000 20,000 Positive result in 15,000 Q2 and Q3 10,000 5,000 0 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 201010
  • Summary  Record operating margin – Sharp volume increase – Substantially higher capacity utilisation – Currency effects  Net cash position in Vehicles and Services due to strong cash flow11
  • 12
  • OutlookLeif Östling, President and CEO Östling13
  • Business overview  Europe incl Russia has improved p p  Latin America stabilising at a high level  Gradually higher daily production rate  Stronger European service demand in Q314
  • Share of deliveries Q3 2010 Europe 40% Latin Asia and America other 32% 28%15
  • Latin American truck demand Units 7,000 Orders t Scania Od to S i Deliveries from S D li i f Scania i 6,000 5,000 4,000 3,000 2,000 2 000 1,000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q3 -1,00016
  • European truck demand Units 20,000 Orders t Scania Od to S i Deliveries from S D li i f Scania i 18,000 16,000 14,000 12,000 10,000 8,000 , 6,000 4,000 2,000 2 000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q317
  • Order trend Buses Units 3,000 Europe -11% first 9 p 2,000 2 000 mth Latin America 53% at e ca 1,000 Asia and other 9% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2008 2009 201018
  • Engines Engine platform ready for 2014 emission legislation Agreement with Doosan on dumpers and wheel loaders in Q319
  • Production ramp-up Higher daily rate Improved productivity Short lead times Higher risk of bottlenecks Hired >1,000 employees on p y temporary contracts in Q2 and Q3 in Europe20
  • Service trend SEK m. 5,000 4,000 Stronger European demand in Q3 3,000 Continued high demand in Latin 2,000 , America 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2006 2007 2008 2009 201021
  • European truck deliveries Units 20,000 Deliveries from S D li i f Scania i 18,000 16,000 14,000 12,000 10,000 8,000 , 6,000 4,000 2,000 2 000 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 Q322
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