Press conferenceErik Ljungberg, Corporate Relations1
Interim Report, January–September 2011Jan Ytterberg, CFO2
First nine months of 2011 – highlights           Stable earnings                 – Increased volume                 – Cur...
Volume trend              Total deliveries, trucks and buses                          Units Deliveries +35% in    first n...
Service revenue                          SEK m. Volume increase    ~10% in first    9 months Strong demand in    all reg...
Earnings trend               Operating income, Scania Group                          SEK m.                               ...
Operating income                    Vehicles and Services EBIT increase due to:    – Volume    – Price                   ...
Cash flow                    Vehicles and Services                         SEK m. Negative impact    from inventories Hi...
Net debt                      Vehicles and Services                           SEK m. Net cash                           N...
Volume trend                            Credit portfolio, Financial Services                                        SEK m....
Summary      Stable earnings            – Volume increase            – Currency headwinds            – Altered market mix...
12
OutlookLeif Östling, President and CEO13
Business overview – First nine months       Good level of deliveries in several markets       Slower order rate at the e...
Europe                   Scania truck deliveries                         Units Slowdown from          50 000     Septembe...
Latin America                    Scania truck deliveries                           Units Transition from          20 000 ...
Eurasia                     Scania truck deliveries                           Units All-time high in         7 000     Ru...
Asia                    Scania truck deliveries                          Units Slowdown in the         16 000     Middle ...
High demand for flexibility Short delivery times    Units                              Total vehicle deliveries          ...
Flexible product cost structure                      Value-added New flexibility  agreement in                  Labour  S...
Summary      Swift adjustment to lower demand level in       Europe and the Middle East      Uncertain demand in Brazil ...
22
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Scania Q3 2011 presentation

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Transcript of "Scania Q3 2011 presentation"

  1. 1. Press conferenceErik Ljungberg, Corporate Relations1
  2. 2. Interim Report, January–September 2011Jan Ytterberg, CFO2
  3. 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. 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. 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. 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. 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. 8. Cash flow Vehicles and Services SEK m. Negative impact from inventories Higher level of investments 2007 2008 2009 2010 20118
  9. 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. 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. 11. Summary  Stable earnings – Volume increase – Currency headwinds – Altered market mix  ROCE 42.3% (32.3%)* *Rolling 12 month11
  12. 12. 12
  13. 13. OutlookLeif Östling, President and CEO13
  14. 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. 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. 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. 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. 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. 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. 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. 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. 22
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