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Presentation: Scania Year-end Report 2012
 

Presentation: Scania Year-end Report 2012

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Scania's earnings for the full year 2012 amounted to SEK 8,300 m. Lower vehicle volume, lower capacity utilisation and a higher level of costs pulled down earnings. Order bookings for trucks rose ...

Scania's earnings for the full year 2012 amounted to SEK 8,300 m. Lower vehicle volume, lower capacity utilisation and a higher level of costs pulled down earnings. Order bookings for trucks rose during the fourth quarter of 2012.

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    Presentation: Scania Year-end Report 2012 Presentation: Scania Year-end Report 2012 Presentation Transcript

    • Year-end Report, January–December 2012Erik Ljungberg Corporate Relations Ljungberg,1
    • OutlookMartin Lundstedt President and CEO Lundstedt,2
    • Business overview – full year 2012  European and Middle Eastern vehicle demand at a low level  Exceptionally strong order bookings in Brazil in Q4  S Service revenue stable i t bl  Focus on adjusting cost level3
    • Europe Scania trucks order bookings trucks, Units Relatively stable y 10,000 9,000 order rates in 2011 8,000 and 2012 7,000 6,000 5,000 4,000 4 000 3,000 2,000 1,000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 20124
    • Europe – Scania truck deliveries Units Low economic 50,000 activity and hesitant 45,000 40,000 customers 35,000 Low level of 30,000 demand in recent 25,000 years 20,000 20 000 15,000 Replacement need 10,000 5,000 Transition to Euro 6 0 end of 2013 2003 2004 2005 2006 2007 2008 2009 2010 2011 20125
    • Latin America Scania trucks order bookings trucks, Units Very strong order y g 8,000 bookings in Q4 in 7,000 Brazil 6,000 5,000 Extensive incentives impacted positively 4,000 3,000 Strong position in 2,000 Euro 5 1,000 1 000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 20126
    • Latin America – Scania truck deliveries Units High deliveries in g 20,000 recent years 18,000 16,000 Increased price p 14,000 pressure during 12,000 2012 10,000 8,000 8 000 6,000 4,000 2,000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 20127
    • Eurasia – Scania truck deliveries Units High level of g 9,000 demand in Russia 8,000 7,000 6,000 6 000 5,000 4,000 3,000 2,000 1,000 1 000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 20128
    • Asia Scania trucks order bookings trucks, Units Middle East at very y 5,000 4,500 low level in Q4 4,000 Stable demand in 3,500 markets outside 3,000 Middle East 2,500 2,000 2 000 1,500 1,000 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 20129
    • Buses and coaches Scania buses and coaches order bookings coaches, Units  Lower demand in 2,500 Europe and Asia 2,000  Reduced production of 1,500 buses in Poland 1,000 1 000 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 201210
    • Engines Scania engines order bookings engines, Units  Impacted by low p y 2,500 economic activity 2,000  Some improvement p in Q4 from low 1,500 level in Q3 1,000 1 000 500 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2011 2011 2011 2011 2012 2012 2012 201211
    • Service revenue SEK m. Service revenue 5,000 stable 4,000 Europe decreasing p g slightly – southern 3,000 region weak 2,000 2 000 Increased volume in several regions 1,000 outside Europe 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2008 2009 2010 2011 201212
    • Adjusting cost level  Daily p y production rate in Europe reduced p by about 15 percent in beginning of Q1 2013 compared to end of 2012  Addressing the structure of service network in certain European markets  Restrictive with hiring and general spending p g13
    • Prioritise investments  Core development p projects  Sales and Services capacity in emerging markets  Metrolink – new coach range for India14
    • Summary  Low level of vehicle demand in Europe p and the Middle East  Lower production rate in Europe early 2013  Exceptionally strong orders in Brazil Q4  Stable service revenue  Adjusting cost level and prioritising investments15
    • 16
    • Year-end, January–December 2012Jan Ytterberg, CFO Ytterberg17
    • Full year 2012 – highlights  Lower vehicle deliveries  High cost and investment level  Service revenue stable  Record earnings in Financial Services18
    • Volume trend Total deliveries, trucks and buses deliveries Units Europe and the p 24,000 Middle East at low 20,000 levels 16,000 16 000 High volume in Latin America in Q4 12,000 Low utilisation of 8,000 production capacity 4,000 0 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 2008 2009 2010 2011 201219
    • Service revenue SEK m. Europe decreasing p g 5,000 slightly – southern region weak 4,000 Increased volume in 3,000 several regions outside Europe 2,000 2 000 Negative impact 1,000 from currency 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2008 2009 2010 2011 201220
    • Earnings trend Operating income, Scania Group income SEK m. Percent Net sales -9% 4,500 20 Operating income O ti i Operating margin O ti i FY 2012 and -2% 4,000 18 in Q4 3,500 16 14 3,000 3 000 EBIT margin 10.4% 12 2,500 (14.1) FY 2012, 9.7% 10 2,000 (12.0) (12 0) in Q4 8 1,500 6 Earnings per share 1,000 4 SEK 8 31 (11 78) 8.31 (11.78) 500 2 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2008 2009 2010 2011 201221
    • Operating income Vehicles and Services EBIT decrease due to: – Deliveries – Capacity utilisation EBIT decrease: - Deliveries – Cost level SEK 4,187 m., - Capacity FY 2012 - Costs – Prices - Prices22
    • Cash flow Vehicles and Services SEK m. Inventory reduction y 4,000 in Q4 3,000 Cash flow 2,000 2 000 SEK 849 m. in Q4 1,000 High level of g investment 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2008 2009 2010 2011 2012 -1,000 -2,00023
    • Net debt Vehicles and Services SEK m. Net cash 12,000 Net debt Net debt/equity ratio 100% 10,000 SEK 9,361 m. 80% 8,000 (Net cash SEK 6,000 60% 10,615 m. 10 615 m 4,000 40% at end of 2011) 2,000 20% 0 0% 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Board proposes 2 000 -2,000 -20% dividend per share -4,000 -40% of SEK 4.75 (5.00) -6,000 -60% 8 000 -8,000 -10,000 -80% -12,000 -100%24
    • Volume trend Credit portfolio Financial Services portfolio, SEK m. Portfolio +11%* 50,000 , since end of 2011 45,000 40,000 Operating income at p g 35,000 35 000 record level, SEK 30,000 606 m. (517) in 2012 25,000 20,000 20 000 15,000 10,000 5,000 0 1998 2000 2002 2004 2006 2008 2010 2012 *In local currencies In25
    • Summary  Lower vehicle deliveries  Stable service revenue  Record earnings in Financial Services  Adjusting cost level  Board proposes DPS of SEK 4.75 (5.00) (5 00)26
    • 27