Scania%20Jan%20Ytterberg%2C%20CFO_tcm10-214730

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  • 1. SEB Enskilda Capital Goods seminar Jan Ytterberg, CFO 1
  • 2. Agenda Scania first six months 2008 Vision for profitable growth 2
  • 3. First half of 2008 – highlights Profitable growth resulting in all time high earnings Operating margin 16.6% – – Net margin 12.1% – Record returns 3
  • 4. Profitable growth Vehicles & Services SEK m. Percent 100,000 55 Net sales growth EBIT margin Revenue ROCE 50 90,000 15% 45 80,000 40 EBIT growth 70,000 35 60,000 30% 30 50,000 25 ROCE 50.3% 40,000 20 30,000 15 20,000 10 10,000 5 0 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008* Q2 * Rolling 12 months 4
  • 5. Volume driven growth Credit portfolio, Financial Services SEK m. 45,000 Portfolio +5.4%, local currencies 40,000 35,000 Competitive 30,000 market 25,000 20,000 Operating 15,000 income +12% 10,000 Well balanced 5,000 portfolio 0 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 5
  • 6. Building shareholder value SEK Percent 14 50 Net income +36% EPS (SEK) ROE 45 12 Earnings per share 40 10 SEK 12.52 rolling 35 12 month 30 8 25 6 Return on equity 20 43.5% (29.2) 15 4 10 2 5 0 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 6
  • 7. Market outlook – heavy trucks* Markets outside EU growing in importance – Europe – softer demand due to economic uncertainty – Structural demand in CIS countries and Russia – Latin America – strong growth in Brazil – Asia – strong demand due to infrastructure investments * Outlook from presentation of Q2 report 2008 7
  • 8. Improved flexibility Global product range Product mix drives profitability Production units Sales & Service units 8
  • 9. Flexible production cost structure 2007 Labour cost Other Sourced material and components (70%) 9
  • 10. Efficiency improvement Productivity Vehicles per employee – Ratio close to 7* vehicles per 6.6 Number of vehicles employee Production employees 5 78,300 Structure 4 – Restructuring 55,600 proceeding as 3 46,400 planned 31,800 – SEK 300 m. in annual savings 12,800 11,800 12,000 11,300 with full effect from 2009 1990 1995 2000 2007 * Rolling 12 month figures 10
  • 11. Selling and administrative expenses SEK m. Percent 7,000 12.0 6,000 10.0 5,000 8.0 4,000 6.0 3,000 4.0 2,000 2.0 1,000 0 0.0 2002 2003 2004 2005 2006 2007 Selling expenses Administrative expenses Selling expenses in % Administrative expenses in % 11
  • 12. Volume development Units 160,000 140,000 120,000 100,000 -20% 80,000 -30% -35% 60,000 40,000 20,000 0 1947 1950 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2015 12
  • 13. Vision for growth Units 160,000 Vision 140,000 120,000 100,000 Target 80,000 60,000 40,000 20,000 0 1947 1950 1953 1956 1959 1962 1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2015 13
  • 14. The global business model Focus on customers’ productivity Uptime Variable cost/ tonne-km Premium – R&M price – Finance Fuel efficiency Residual value Valid for all markets and segments 14
  • 15. Extended modular system 15
  • 16. One Ahead of competition and legislation step ahead of competition and legislation Comprehensive enginge range – EGR and SCR All emission standards – EEV, Euro 5, Euro 4, Euro 3 Fuel efficiency – Driver training, engineering, biofuels, hybrids 16
  • 17. The road to 150,000 vehicles 70,000 120,000 Europe 30,000 30,000 Delivery centres Latin America 17
  • 18. Rolling fleet – 1 million in 2015 Units SEK m. 1,000,000 30,000 25,000 800,000 Service revenue 20,000 600,000 15,000 400,000 10,000 200,000 5,000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 18
  • 19. Conclusion Strong profitability Limited investments to reach 150,000 Premium brand 19
  • 20. 20