Scania Q3 2011 presentation
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  • 1. Press conferenceErik Ljungberg, Corporate Relations1
  • 2. Interim Report, January–September 2011Jan Ytterberg, CFO2
  • 3. First nine months of 2011 – highlights  Stable earnings – Increased volume – Currency headwinds – Altered market mix  ROCE 42.3% (32.3%)* *Rolling 12 month3
  • 4. Volume trend Total deliveries, trucks and buses Units Deliveries +35% in first nine months More vehicles to Russia and Middle East – fewer to Brazil Lower production rate from November 2007 2008 2009 2010 20114
  • 5. Service revenue SEK m. Volume increase ~10% in first 9 months Strong demand in all regions Negative impact from currency rates 2007 2008 2009 2010 20115
  • 6. Earnings trend Operating income, Scania Group SEK m. Percent Net sales +16% Operating income Operating margin 9 months EBIT margin 14.9% (16.2) 9 months and 14.2% (18.3) in Q3 Earnings per share SEK 9.11 (7.63) 9 months 2007 2008 2009 2010 20116
  • 7. Operating income Vehicles and Services EBIT increase due to: – Volume – Price + Volume + Price EBIT increase: Negative effects: SEK 364 m., - Currency – Currency rates 9 months of 2011 - Mix – Market mix - Cost level – Higher cost level7
  • 8. Cash flow Vehicles and Services SEK m. Negative impact from inventories Higher level of investments 2007 2008 2009 2010 20118
  • 9. Net debt Vehicles and Services SEK m. Net cash Net debt Net debt/equity ratio SEK 7,509 m. (Net cash 7,700 end of 2010) Dividend paid SEK 4,000 m. in Q29
  • 10. Volume trend Credit portfolio, Financial Services SEK m. Portfolio +12%* since end of 2010 Lower level of bad debt expenses Operating income SEK 363 m. (91) in 9 months *In local currencies10
  • 11. Summary  Stable earnings – Volume increase – Currency headwinds – Altered market mix  ROCE 42.3% (32.3%)* *Rolling 12 month11
  • 12. 12
  • 13. OutlookLeif Östling, President and CEO13
  • 14. Business overview – First nine months  Good level of deliveries in several markets  Slower order rate at the end of Q3, primarily in southern Europe and the Middle East  Short delivery times mean swift adjustment of production rate  High demand for service in all regions14
  • 15. Europe Scania truck deliveries Units Slowdown from 50 000 September 45 000 primarily in 40 000 southern regions 35 000 Short delivery 30 000 times 25 000 20 000 Need for replacement 15 000 10 000 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* *2011 refers to rolling 12 month Q3 201115
  • 16. Latin America Scania truck deliveries Units Transition from 20 000 18 000 Euro 3 to Euro 5 16 000 in 2012 (Brazil) 14 000 Uncertain demand 12 000 H1 2012 in Brazil 10 000 8 000 Short delivery times 6 000 4 000 2 000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* *2011 refers to rolling 12 month Q3 201116
  • 17. Eurasia Scania truck deliveries Units All-time high in 7 000 Russia 6 000 5 000 4 000 3 000 2 000 1 000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* *2011 refers to rolling 12 month Q3 201117
  • 18. Asia Scania truck deliveries Units Slowdown in the 16 000 Middle East from 14 000 September 12 000 10 000 Middle East typically ~50% of 8 000 Asian deliveries 6 000 4 000 2 000 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011* *2011 refers to rolling 12 month Q3 201118
  • 19. High demand for flexibility Short delivery times Units Total vehicle deliveries 90 000 Swift adjustments 80 000 in the production 70 000 level 60 000 50 000 Global production 40 000 rate 10-15% lower from November 30 000 20 000 ~900 temporary 10 000 employees affected 0 2007 2008 2009 2010 2011 Q3* *Refers to rolling 12 month19
  • 20. Flexible product cost structure Value-added New flexibility agreement in Labour Sweden cost Common global Other product and Sourced material Variable cost production system and components (70%)
  • 21. Summary  Swift adjustment to lower demand level in Europe and the Middle East  Uncertain demand in Brazil H1 2012  Focus on flexibility and short delivery times  High demand for service in all regions21
  • 22. 22