- Scania's operating income rose to SEK 2,130 m in Q1 2010 compared to SEK 506 m in Q1 2009 due to improved capacity utilization and cost reductions.
- Net sales increased 4% to SEK 16,503 m as order bookings rose 166% and deliveries increased 6%.
- Cash flow amounted to SEK 2,366 m, decreasing Scania's net debt by SEK 5.7 billion. Demand was strong in Brazil and Asia while recovering in Europe.
Scania Interim Report January-March 2011Scania Group
- Scania's operating income rose to SEK 3,339 million in Q1 2011 compared to SEK 2,130 million in Q1 2010, and earnings per share rose to SEK 3.14 from SEK 1.78. Net sales increased 25% to SEK 20,692 million.
- Truck and bus order bookings increased 20% to 19,457 vehicles while deliveries increased 60% to 19,065 vehicles. The production rate leveled off compared to the second half of 2010 as Scania prioritizes short delivery times.
- Scania unveiled trucks meeting upcoming Euro 6 emission standards, cutting nitrogen oxide and particulate emissions by 80% compared to current Euro 5 standards.
Scania Interim Report January-September 2010Scania Group
Scania reported strong financial results for the first three quarters of 2010 compared to 2009. Operating income rose to SEK 9,021 million from SEK 1,042 million in the same period last year. Net sales increased 27% to SEK 55,663 million. Order bookings increased 110% to 52,452 vehicles. The president noted higher vehicle deliveries and increased production capacity utilization contributed to improved results compared to 2009, which was negatively impacted by low production rates and currency hedging effects. Demand has increased in Latin America, Asia, and is recovering in Europe.
Scania reported record operating income and earnings per share for 2010. Net sales increased 26% to SEK 78.2 billion as deliveries of trucks and buses rose 47% to 63,712 vehicles. Order bookings increased 91% overall. Operating income was SEK 12.7 billion, up from SEK 2.4 billion in 2009. The board proposes a dividend of SEK 5.00 per share, up from SEK 1.00 last year. Scania increased production and hiring to meet strong demand, especially in Latin America.
Scania Interim Report January-June 2010Scania Group
Scania reported strong financial results for the first half of 2010, with operating income rising to SEK 5,632 million and earnings per share rising to SEK 4.75. Net sales increased 23% to SEK 37,105 million, driven by higher vehicle volume and increased capacity utilization. Order bookings rose 159% due to recovering demand in Europe and strong growth in Latin America and Asia. Cash flow amounted to SEK 5,993 million for the vehicles and services segment.
- Scania's operating margin and net margin increased in the first nine months of 2008 compared to the same period in 2007. Net sales rose 11% while order bookings declined 29% due to lower demand in Europe.
- Earnings per share increased and the forecast for higher full-year 2008 earnings remains unchanged. However, due to lower order bookings and higher inventories, Scania will adjust production rates.
- Service revenue continued to show strong growth of 8%, while trucks deliveries increased 4% and various restructuring efforts are expected to generate annual cost savings of SEK 300 million from 2009.
Summary of the full year 2011
Operating income fell to SEK 12,398 m. (12,746), and earnings per share rose to SEK 11.78 (11.38)
Net sales increased by 12 percent to SEK 87,686 m. (78,168)
The Board of Directors proposes a dividend of SEK 5.00 (5.00) per share
Scania Interim Report January-September 2011Scania Group
Scania reported higher earnings for the first nine months of 2011 compared to the same period in 2010, with operating income rising to SEK 9,657m and earnings per share rising to SEK 9.11. However, demand for vehicles decelerated in late Q3, particularly in Southern Europe and the Middle East. As a result, Scania will reduce its daily global production rate by 10-15% starting in November to better match demand. Overall, net sales increased 16% to SEK 64,795m for the first nine months, with order bookings up 16% as well, though cash flow declined 54% over the same period.
Scania’s earnings for the first quarter of 2013 amounted to SEK 1,933 m. The stronger Swedish krona and price pressure on trucks pulled down earnings. Higher truck volume and higher capacity utilisation in Latin America had some positive effect.
Scania Interim Report January-March 2011Scania Group
- Scania's operating income rose to SEK 3,339 million in Q1 2011 compared to SEK 2,130 million in Q1 2010, and earnings per share rose to SEK 3.14 from SEK 1.78. Net sales increased 25% to SEK 20,692 million.
- Truck and bus order bookings increased 20% to 19,457 vehicles while deliveries increased 60% to 19,065 vehicles. The production rate leveled off compared to the second half of 2010 as Scania prioritizes short delivery times.
- Scania unveiled trucks meeting upcoming Euro 6 emission standards, cutting nitrogen oxide and particulate emissions by 80% compared to current Euro 5 standards.
Scania Interim Report January-September 2010Scania Group
Scania reported strong financial results for the first three quarters of 2010 compared to 2009. Operating income rose to SEK 9,021 million from SEK 1,042 million in the same period last year. Net sales increased 27% to SEK 55,663 million. Order bookings increased 110% to 52,452 vehicles. The president noted higher vehicle deliveries and increased production capacity utilization contributed to improved results compared to 2009, which was negatively impacted by low production rates and currency hedging effects. Demand has increased in Latin America, Asia, and is recovering in Europe.
Scania reported record operating income and earnings per share for 2010. Net sales increased 26% to SEK 78.2 billion as deliveries of trucks and buses rose 47% to 63,712 vehicles. Order bookings increased 91% overall. Operating income was SEK 12.7 billion, up from SEK 2.4 billion in 2009. The board proposes a dividend of SEK 5.00 per share, up from SEK 1.00 last year. Scania increased production and hiring to meet strong demand, especially in Latin America.
Scania Interim Report January-June 2010Scania Group
Scania reported strong financial results for the first half of 2010, with operating income rising to SEK 5,632 million and earnings per share rising to SEK 4.75. Net sales increased 23% to SEK 37,105 million, driven by higher vehicle volume and increased capacity utilization. Order bookings rose 159% due to recovering demand in Europe and strong growth in Latin America and Asia. Cash flow amounted to SEK 5,993 million for the vehicles and services segment.
- Scania's operating margin and net margin increased in the first nine months of 2008 compared to the same period in 2007. Net sales rose 11% while order bookings declined 29% due to lower demand in Europe.
- Earnings per share increased and the forecast for higher full-year 2008 earnings remains unchanged. However, due to lower order bookings and higher inventories, Scania will adjust production rates.
- Service revenue continued to show strong growth of 8%, while trucks deliveries increased 4% and various restructuring efforts are expected to generate annual cost savings of SEK 300 million from 2009.
Summary of the full year 2011
Operating income fell to SEK 12,398 m. (12,746), and earnings per share rose to SEK 11.78 (11.38)
Net sales increased by 12 percent to SEK 87,686 m. (78,168)
The Board of Directors proposes a dividend of SEK 5.00 (5.00) per share
Scania Interim Report January-September 2011Scania Group
Scania reported higher earnings for the first nine months of 2011 compared to the same period in 2010, with operating income rising to SEK 9,657m and earnings per share rising to SEK 9.11. However, demand for vehicles decelerated in late Q3, particularly in Southern Europe and the Middle East. As a result, Scania will reduce its daily global production rate by 10-15% starting in November to better match demand. Overall, net sales increased 16% to SEK 64,795m for the first nine months, with order bookings up 16% as well, though cash flow declined 54% over the same period.
Scania’s earnings for the first quarter of 2013 amounted to SEK 1,933 m. The stronger Swedish krona and price pressure on trucks pulled down earnings. Higher truck volume and higher capacity utilisation in Latin America had some positive effect.
Color Group AS is the parent company of Color Line AS, Norway's largest and one of Europe's leading short-sea cruise and freight shipping companies. Color Line operates six vessels on four international services between ports in Norway, Sweden, Denmark and Germany, carrying close to 4.1 million passengers and over 172,000 freight units in 2011. While reporting operating revenues of almost NOK 4.6 billion, Color Line recorded a pre-tax profit of NOK 78 million, which includes an exceptional provision of approximately NOK 150 million relating to a decision by the EFTA Surveillance Authority. Color Group AS is wholly owned by O. N. Sunde AS, which is owned by Olav Nils Sunde and his
This document provides financial results for Maximising the Power of Entertainment (MTG AB) for Q4 and full year 2006. Key highlights include record sales and profits with group net sales up 18% in Q4 and 27% for the full year. Viasat Broadcasting, MTG's broadcasting segment, saw a 14% increase in Q4 net sales and 29% increase for the full year. MTG continues to meet its strategic objectives of doubling Viasat Broadcasting revenues and achieving over 15% operating margins in its core businesses. Overall, MTG achieved strong growth across its segments in 2006.
The document summarizes April 2010 traffic figures from the Association of European Airlines (AEA), which shows a 13.1% decrease in passenger traffic compared to April 2009 due to airspace closures from volcanic ash. Four AEA airlines saw growth, while nine saw losses over 20%. Traffic indications for May showed improvement over early disruptions. Airline-by-airline figures are provided showing impacts ranging from -48.5% to 36.2% in passenger traffic compared to the previous April.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
2012 UK Industrial And Distribution Market OverviewCapita Symonds
The document provides a region-by-region overview of the UK industrial and distribution property market in 2012. It includes information on major industrial locations, motorways, freight terminals, largest employment sectors and examples of companies, current labor rates, unemployment rates, GVA per head, and recent real estate news for each region, including the South East, South West, Greater London, and East of England regions. Property values in terms of estimated rental value, capital value, and land value per acre are also provided for selected towns in each region.
The document provides an August 2009 edition of Logex Line, which summarizes news and developments in the logistics and transportation industries in India and globally.
Domestically, the Indian government and railways announced plans to invest over $12 billion to develop ports and rail infrastructure. Several global and domestic logistics and transportation companies also announced expansion plans in India.
Internationally, companies like Fedex and Schenker Rail planned expansions based on optimistic long-term views of the global economy. The document also highlights the long-term growth opportunity in containerized rail haulage in India and discusses various drivers that could increase rail's market share relative to roads.
Analyst presentation: 2012-2016 Business PlanHera Group
Hera Group business plan to 2016 outlines the company's strategy to expand its multi-utility business through 2026. Key points include:
1) Hera aims to grow through M&A, having recently merged with Acegas APS and planning to acquire Aimag. It also signed an agreement for FSI to become a shareholder to support further acquisitions.
2) Industrial targets through 2016 include increasing waste treated, water and gas volumes served, and energy sold. EBITDA is forecasted to grow through synergies from acquisitions and organic growth across its waste, network and energy businesses.
3) Capex will support expanding renewable energy generation and upgrading networks, while maintaining a sustainable
The document summarizes Q4 highlights for a group. Key points include:
- Revenue was NOK 1,917 million, a 10% increase year-over-year. EBITA was NOK 168 million, a 12% increase.
- A cost program secured a sustainable margin and the Bank & Finance segment continued to outperform the market. New signings were NOK 1.4 billion, a 64% increase year-over-year.
- For 2009, revenue decreased 5% in line with market trends. EBITA was NOK 603 million, a 17% decrease, but order backlog secured visibility through 2013.
The document reports on Modern Times Group's Q3 2009 financial results, which showed continued sales growth despite economic challenges, with more than half of revenues from pay-TV and online businesses. While advertising markets declined, the company gained market share in free-TV and grew subscribers and revenues in pay-TV, maintaining a 12% operating margin through cost reductions. Overall, the resilient business model demonstrated strength in a difficult economic environment.
2008* Embraer Day Ny Resultados Em Us Gaap 4 T07Embraer RI
Embraer reported strong financial results for 2007. Net income increased 27% to $489 million on record net revenues of $5.2 billion, up 38% from 2006. Firm order backlog reached a historic high of $18.8 billion, up 27% from 2006. Embraer delivered a record 169 aircraft during the year and maintained its guidance of delivering between 165-170 aircraft. The company also invested heavily in research and development, capital expenditures and hiring over 4,500 new employees to support continued growth.
The document discusses the performance of India's Media and Entertainment industry in 2009 and the outlook for 2010. It notes that the industry grew only 1.5% in 2009 due to the economic slowdown but is expected to recover in 2010 with 11.1% growth. Television was the strongest segment in 2009 while films fared the worst. Overall, the industry is projected to have a compound annual growth rate of 13.3% through 2014 to reach a size of Rs. 1,094 billion. Advertising spending was flat in 2009 but also expected to rebound with 12.1% growth in 2010. Low media spending in India indicates significant potential for future expansion.
The document summarizes Tele2's financial and operational results for the third quarter of 2009. It reports that all regions performed solidly, with continued growth in customer numbers in Nordic, Russia, and Central Europe. Russia added over 1 million new customers, including 742,000 from new regions launched in the quarter. The financial review shows increased sales and profits compared to the same period last year.
Scania Interim Report January-June 2011Scania Group
Scania reported strong financial results for the first half of 2011, with operating income rising 18% to SEK 6,652m and earnings per share increasing to SEK 6.18. Net sales increased 18% to SEK 43,665m. Order bookings grew 14% while deliveries increased 42%. Higher volumes were offset by currency effects and costs. Scania is investing to increase production capacity and flexibility to support continued growth.
Scania Interim Report January - March 2012Scania Group
Scania's operating income fell to SEK 2,323 m in Q1 2012 compared to SEK 3,339 m in Q1 2011 due to lower vehicle deliveries and capacity utilization as well as higher costs for future projects. Net sales decreased 3% to SEK 20,127 m. Order bookings for trucks were in line with 2011 levels but decreased for buses/coaches, while service demand remained high driven by an aging vehicle population in Europe. Scania adjusted production rates in response to lower demand and will invest in an Indian facility to start local assembly and improve service.
Scania Interim Report January-September 2012Scania Group
Scania's operating income fell 39% to SEK 5.7 billion in the first nine months of 2012 due to lower vehicle volumes, lower capacity utilization, and higher costs. Net sales decreased 12% to SEK 57.3 billion. Order bookings for trucks declined compared to the previous quarter due to lower economic activity and hesitancy among customers in Europe. The outlook for the truck market, particularly in Europe, remains uncertain.
Scania Year-end Report, January-December 2012Scania Group
Scania's earnings and sales declined in 2012 compared to 2011. Operating income fell 33% to SEK 8,300m and net sales decreased 9% to SEK 79,603m. Order bookings for trucks rose in Q4 2012 driven by strong demand in Brazil, while order bookings in Europe remained low. Scania reduced production rates in Europe in early 2013 and took measures to improve efficiency and adjust costs in response to lower demand.
Scania Interim Report January–June 2012Scania Group
Summary of the first six months of 2012
Operating income fell to SEK 4,257 m. (6 652), and earnings per share fell to SEK 4.06 (6.18)
Net sales decreased by 10 percent to SEK 39,338 m. (43,665)
Cash flow amounted to SEK 1,769 m (3,218) in Vehicles and Services
Scania Interim Report January–June 2014Scania Group
- Scania's operating income rose 8% to SEK 4.276 billion in the first six months of 2014, while net sales increased 4% to SEK 43.917 billion.
- Order bookings for trucks were at a high level in Q2 2014 and improved in Europe. Scania gained a clear long-term ownership structure under Volkswagen in June.
- Operating income increased due to higher service volume, though this was partly offset by weaker market mix and currency effects. Outlook remains positive.
- Traffic on Ferrovial's toll motorways in Spain continued to decline due to the weak economy and high fuel prices, though signs of recovery were seen in Ireland and North America. Heathrow Airport saw a 1.8% increase in passengers.
- Revenues increased 10.2% at the Toll Motorways division due to the opening of SH-130 and a tariff increase at Chicago Skyway. EBITDA declined 26.3% due to a one-time provision reversal in 2012.
- Two Spanish toll motorway projects, Radial 4 and Ocaña-La Roda, filed for creditor protection due to lower-than-expected traffic and economic factors. Ferrovial's investments
Scania Interim Report January-June 2013Scania Group
Summary of the first six months of 2013
Operating income fell to SEK 3,971 m. (4,257), and earnings per share fell to SEK 3.47 (4.06)
Net sales rose by 7 percent to SEK 42,139 m. (39,338)
Cash flow amounted to SEK 744 m (1,769) in Vehicles and Services
Color Group AS is the parent company of Color Line AS, Norway's largest and one of Europe's leading short-sea cruise and freight shipping companies. Color Line operates six vessels on four international services between ports in Norway, Sweden, Denmark and Germany, carrying close to 4.1 million passengers and over 172,000 freight units in 2011. While reporting operating revenues of almost NOK 4.6 billion, Color Line recorded a pre-tax profit of NOK 78 million, which includes an exceptional provision of approximately NOK 150 million relating to a decision by the EFTA Surveillance Authority. Color Group AS is wholly owned by O. N. Sunde AS, which is owned by Olav Nils Sunde and his
This document provides financial results for Maximising the Power of Entertainment (MTG AB) for Q4 and full year 2006. Key highlights include record sales and profits with group net sales up 18% in Q4 and 27% for the full year. Viasat Broadcasting, MTG's broadcasting segment, saw a 14% increase in Q4 net sales and 29% increase for the full year. MTG continues to meet its strategic objectives of doubling Viasat Broadcasting revenues and achieving over 15% operating margins in its core businesses. Overall, MTG achieved strong growth across its segments in 2006.
The document summarizes April 2010 traffic figures from the Association of European Airlines (AEA), which shows a 13.1% decrease in passenger traffic compared to April 2009 due to airspace closures from volcanic ash. Four AEA airlines saw growth, while nine saw losses over 20%. Traffic indications for May showed improvement over early disruptions. Airline-by-airline figures are provided showing impacts ranging from -48.5% to 36.2% in passenger traffic compared to the previous April.
Imperial reported an 18% increase in revenue and a 12% increase in operating profit for the first six months of fiscal year 2013. While most divisions performed well, logistics divisions faced challenging conditions in South Africa and Europe. The automotive retail and aftermarket parts divisions achieved strong growth. Overall, the results represent a good performance despite difficult market conditions in some areas.
2012 UK Industrial And Distribution Market OverviewCapita Symonds
The document provides a region-by-region overview of the UK industrial and distribution property market in 2012. It includes information on major industrial locations, motorways, freight terminals, largest employment sectors and examples of companies, current labor rates, unemployment rates, GVA per head, and recent real estate news for each region, including the South East, South West, Greater London, and East of England regions. Property values in terms of estimated rental value, capital value, and land value per acre are also provided for selected towns in each region.
The document provides an August 2009 edition of Logex Line, which summarizes news and developments in the logistics and transportation industries in India and globally.
Domestically, the Indian government and railways announced plans to invest over $12 billion to develop ports and rail infrastructure. Several global and domestic logistics and transportation companies also announced expansion plans in India.
Internationally, companies like Fedex and Schenker Rail planned expansions based on optimistic long-term views of the global economy. The document also highlights the long-term growth opportunity in containerized rail haulage in India and discusses various drivers that could increase rail's market share relative to roads.
Analyst presentation: 2012-2016 Business PlanHera Group
Hera Group business plan to 2016 outlines the company's strategy to expand its multi-utility business through 2026. Key points include:
1) Hera aims to grow through M&A, having recently merged with Acegas APS and planning to acquire Aimag. It also signed an agreement for FSI to become a shareholder to support further acquisitions.
2) Industrial targets through 2016 include increasing waste treated, water and gas volumes served, and energy sold. EBITDA is forecasted to grow through synergies from acquisitions and organic growth across its waste, network and energy businesses.
3) Capex will support expanding renewable energy generation and upgrading networks, while maintaining a sustainable
The document summarizes Q4 highlights for a group. Key points include:
- Revenue was NOK 1,917 million, a 10% increase year-over-year. EBITA was NOK 168 million, a 12% increase.
- A cost program secured a sustainable margin and the Bank & Finance segment continued to outperform the market. New signings were NOK 1.4 billion, a 64% increase year-over-year.
- For 2009, revenue decreased 5% in line with market trends. EBITA was NOK 603 million, a 17% decrease, but order backlog secured visibility through 2013.
The document reports on Modern Times Group's Q3 2009 financial results, which showed continued sales growth despite economic challenges, with more than half of revenues from pay-TV and online businesses. While advertising markets declined, the company gained market share in free-TV and grew subscribers and revenues in pay-TV, maintaining a 12% operating margin through cost reductions. Overall, the resilient business model demonstrated strength in a difficult economic environment.
2008* Embraer Day Ny Resultados Em Us Gaap 4 T07Embraer RI
Embraer reported strong financial results for 2007. Net income increased 27% to $489 million on record net revenues of $5.2 billion, up 38% from 2006. Firm order backlog reached a historic high of $18.8 billion, up 27% from 2006. Embraer delivered a record 169 aircraft during the year and maintained its guidance of delivering between 165-170 aircraft. The company also invested heavily in research and development, capital expenditures and hiring over 4,500 new employees to support continued growth.
The document discusses the performance of India's Media and Entertainment industry in 2009 and the outlook for 2010. It notes that the industry grew only 1.5% in 2009 due to the economic slowdown but is expected to recover in 2010 with 11.1% growth. Television was the strongest segment in 2009 while films fared the worst. Overall, the industry is projected to have a compound annual growth rate of 13.3% through 2014 to reach a size of Rs. 1,094 billion. Advertising spending was flat in 2009 but also expected to rebound with 12.1% growth in 2010. Low media spending in India indicates significant potential for future expansion.
The document summarizes Tele2's financial and operational results for the third quarter of 2009. It reports that all regions performed solidly, with continued growth in customer numbers in Nordic, Russia, and Central Europe. Russia added over 1 million new customers, including 742,000 from new regions launched in the quarter. The financial review shows increased sales and profits compared to the same period last year.
Scania Interim Report January-June 2011Scania Group
Scania reported strong financial results for the first half of 2011, with operating income rising 18% to SEK 6,652m and earnings per share increasing to SEK 6.18. Net sales increased 18% to SEK 43,665m. Order bookings grew 14% while deliveries increased 42%. Higher volumes were offset by currency effects and costs. Scania is investing to increase production capacity and flexibility to support continued growth.
Scania Interim Report January - March 2012Scania Group
Scania's operating income fell to SEK 2,323 m in Q1 2012 compared to SEK 3,339 m in Q1 2011 due to lower vehicle deliveries and capacity utilization as well as higher costs for future projects. Net sales decreased 3% to SEK 20,127 m. Order bookings for trucks were in line with 2011 levels but decreased for buses/coaches, while service demand remained high driven by an aging vehicle population in Europe. Scania adjusted production rates in response to lower demand and will invest in an Indian facility to start local assembly and improve service.
Scania Interim Report January-September 2012Scania Group
Scania's operating income fell 39% to SEK 5.7 billion in the first nine months of 2012 due to lower vehicle volumes, lower capacity utilization, and higher costs. Net sales decreased 12% to SEK 57.3 billion. Order bookings for trucks declined compared to the previous quarter due to lower economic activity and hesitancy among customers in Europe. The outlook for the truck market, particularly in Europe, remains uncertain.
Scania Year-end Report, January-December 2012Scania Group
Scania's earnings and sales declined in 2012 compared to 2011. Operating income fell 33% to SEK 8,300m and net sales decreased 9% to SEK 79,603m. Order bookings for trucks rose in Q4 2012 driven by strong demand in Brazil, while order bookings in Europe remained low. Scania reduced production rates in Europe in early 2013 and took measures to improve efficiency and adjust costs in response to lower demand.
Scania Interim Report January–June 2012Scania Group
Summary of the first six months of 2012
Operating income fell to SEK 4,257 m. (6 652), and earnings per share fell to SEK 4.06 (6.18)
Net sales decreased by 10 percent to SEK 39,338 m. (43,665)
Cash flow amounted to SEK 1,769 m (3,218) in Vehicles and Services
Scania Interim Report January–June 2014Scania Group
- Scania's operating income rose 8% to SEK 4.276 billion in the first six months of 2014, while net sales increased 4% to SEK 43.917 billion.
- Order bookings for trucks were at a high level in Q2 2014 and improved in Europe. Scania gained a clear long-term ownership structure under Volkswagen in June.
- Operating income increased due to higher service volume, though this was partly offset by weaker market mix and currency effects. Outlook remains positive.
- Traffic on Ferrovial's toll motorways in Spain continued to decline due to the weak economy and high fuel prices, though signs of recovery were seen in Ireland and North America. Heathrow Airport saw a 1.8% increase in passengers.
- Revenues increased 10.2% at the Toll Motorways division due to the opening of SH-130 and a tariff increase at Chicago Skyway. EBITDA declined 26.3% due to a one-time provision reversal in 2012.
- Two Spanish toll motorway projects, Radial 4 and Ocaña-La Roda, filed for creditor protection due to lower-than-expected traffic and economic factors. Ferrovial's investments
Scania Interim Report January-June 2013Scania Group
Summary of the first six months of 2013
Operating income fell to SEK 3,971 m. (4,257), and earnings per share fell to SEK 3.47 (4.06)
Net sales rose by 7 percent to SEK 42,139 m. (39,338)
Cash flow amounted to SEK 744 m (1,769) in Vehicles and Services
This document summarizes HeidelbergCement's third quarter 2016 results. Key points include:
- Operating EBITDA increased 2% and operating income increased 4% compared to the prior year on a like-for-like basis.
- Integration of the Italcementi acquisition is progressing faster than planned, with synergies above €400 million already achieved.
- Volumes increased across all business lines (cement, aggregates, ready-mix concrete, asphalt) in all regions.
- Margin improvement programs like the "Competence Center RMC" aim to further boost margins over the next few years.
- The outlook for 2016 is confirmed despite some challenging market conditions.
Ferrovial reported business performance results for January - September 2013. Key highlights include:
- Revenues increased 4.9% to €5,927 million driven by toll road growth and acquisitions in services.
- EBITDA declined 4.1% to €632 million due to provisions in toll roads.
- Net profit was €485 million, up 2% year-on-year.
- Traffic increased slightly on toll roads in Spain but continued to decline elsewhere.
- The services backlog reached a new high with the acquisition of Enterprise in the UK.
- Heathrow airport traffic and EBITDA increased significantly.
- Aston Martin reported losses in 2012 due to declining sales and rising expenses. Sales fell 9% to £460m while losses widened to £24.9m from £21m in 2011.
- A key challenge for Aston Martin is funding new vehicle programs to boost product momentum and sales. Short product cycles for models like the Virage contributed to the financial difficulties in 2011-2012.
- A new ownership structure and partnerships with Mercedes and new investors are intended to provide funding for investment in new models and technologies needed to better compete in the luxury car market.
Scania Interim Report, January–March 2016Scania Group
Scania’s sales amounted to SEK 23.1 billion and earnings for the first quarter amounted to SEK 2,295 m. Higher vehicle volume in Europe and higher service volume were partly offset by negative currency rate effects and low capacity utilisation in the production system in Latin America. The high level of investments is starting to impact earnings.
HeidelbergCement reported solid results for the first quarter of 2016, with mid-single digit increases in both cement and aggregates volumes and a 13% increase in operating EBITDA. The company saw strong operational performance across all business lines leading to margin improvements. Additionally, net debt was reduced to €5.9 billion while leverage decreased to 2.2x. The company increased its full year operating EBITDA target to "high single to double digit growth" and remains on track to complete the Italcementi acquisition in the second half of 2016.
- Ferrovial's toll roads, airports, construction and services businesses all saw increased revenues and traffic in 2015, supported by economic recovery and currency effects.
- Key assets like Heathrow airport and 407ETR toll road increased dividends. Ferrovial also executed a share buyback and scrip dividend program.
- The consolidated net debt decreased due to asset sales like the Chicago Skyway toll road. The order book remained high for construction and services.
Enea CG's financial results were affected by a one-time settlement in Q3 2015. In Q1-Q3 2016:
- EBITDA increased 13.9% to PLN 1,828.6 million, mainly due to higher results in distribution and generation.
- Revenue grew 16.1% to PLN 8,303.9 million driven by sales growth in mining, distribution and trade.
- Net profit declined 14% to PLN 720.7 million as the prior year included a one-time revenue item.
The Society of Motor Manufacturers and Traders (SMMT) represents over 650 automotive companies in the UK. It acts as the voice of the UK motor industry, supporting members' interests to government and other stakeholders. In 2015, 1.6 million vehicles were manufactured in the UK, including 1.6 million cars. Over 77% of UK-built cars were exported to over 100 countries. The UK automotive industry employs over 799,000 people and has an annual turnover of £69.5 billion.
- Wärtsilä's order intake increased 9% in the first half of 2014 compared to the previous year. Net sales declined slightly by 2%.
- Earnings before interest and taxes (EBIT) were €122 million, an increase from €111 million the previous year.
- Order intake was supported by increases in the Ship Power and Services segments. Net sales were in line with expectations across all business segments.
- Prospects for the full year were revised with EBIT expected to be around 11.5% and net sales to grow by around 5%.
Snam reported its third quarter 2016 results, with the following highlights:
- Weather-adjusted gas demand was up 2.3% driven by a moderate recovery in industrial production and higher thermoelectric demand.
- Capex was in line with targets at €842 million, up 5% from the first nine months of 2015.
- Revenues were €2.469 billion, down 4.2% due to a new regulatory framework.
- Net profit was €783 million, down 11.8% compared to the first nine months of 2015.
- Snam confirmed its full-year 2016 guidance and announced the acquisition of a 49% stake in Gas Connect Austria GmbH.
SKF reported lower sales and profits for the third quarter of 2009 compared to the previous year, due to the economic downturn reducing demand, but cash flow remained strong. While some divisions like automotive struggled, others like industrial showed signs of stabilizing. SKF continued restructuring efforts and expected a slight sequential improvement in the fourth quarter, but sales would still be significantly lower than the previous year.
Scania Interim Report January-September 2013Scania Group
Scania's earnings for the first nine months of 2013 fell to SEK 5,939 m. Higher vehicle volume and better capacity utilisation had a positive effect. The stronger krona had a negative impact and earnings were also pulled down by a competitive pricing environment.
Summary of the first nine months of 2013
• Operating income fell to SEK 5,939 m. (6,135), and earnings per share fell to SEK 5.30 (5.94)
• Net sales rose by 8 percent to SEK 61,864 m. (57,261)
• Cash flow amounted to SEK 1,362 m. (2,176) in Vehicles and Services
Comments by Martin Lundstedt, President and CEO:
“Scania's earnings for the first nine months of 2013 fell to SEK 5,939 m. Higher vehicle volume and better capacity utilisation had a positive effect. The stronger krona had a negative impact and earnings were also pulled down by a competitive pricing environment. Order bookings for trucks in Europe continued to improve during the third quarter. Demand has been supported by customers that are investing in Euro 5 vehicles before year-end, when the transition to Euro 6 will occur. There is also a replacement need. Scania has a strong position with its broad engine range and the launch of its second-generation Euro 6 engines. The company’s market share in Europe has increased during the period, among other things thanks to its leading position in Euro 6. In Latin America too, Scania has captured market shares. Order bookings in Latin America remained at a good level but decreased compared to the high level of the previous quarters. Order bookings for buses and coaches fell related to Latin America and Asia. In Engines, order bookings increased in Europe compared to the second quarter, driven by investments ahead of the transition to the new emission standard in 2014. Scania is continuing its long-term efforts to boost market share in Services. Service revenue rose by 9 percent in local currency during the third quarter. Scania has raised its daily production rate in Europe while increasing flexibility at its production units. There are good growth opportunities and the expansion of annual technical production capacity towards 120,000 vehicles is continuing. To strengthen competitiveness, the level of activity related to development projects remains high, at the same time as Scania is expanding its sales and service capacity in emerging markets.”
View the full report: http://bit.ly/18aqP5e
Similar to Scania Interim Report January-March 2010 (20)
Scania interim report january september 2017Scania Group
Scania’s net sales in the first nine months of 2017 rose to a record high SEK 86.4 billion, an increase of 15 percent compared to the previous year. Demand for the new truck range was good and the service trend remains positive.
Scania Year-end Report January-December 2016Scania Group
Scania reported record high net sales of SEK 103.9 billion in 2016, up 10% from 2015. Operating income was SEK 6.4 billion, down from SEK 9.6 billion the previous year due to a SEK 3.8 billion provision related to an EU competition investigation. Total vehicle deliveries reached 81,346 units in 2016, up 6% from the prior year. Order bookings increased 11% to 85,527 vehicles for the full year. The new truck generation launched in late 2016 was an immediate success, outperforming competitors in trade publication tests.
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Scania’s sales reached SEK 75.2 billion in the first nine months of 2016 and the company’s underlying operational performance was strong. Higher vehicle volume in Europe and increased service revenue was partly offset by negative currency rate effects and lower deliveries in Latin America.
Scania Interim Report January – June 2016Scania Group
Summary of the first six months of 2016
* Operating income amounted to SEK 1,348 m. (4,737), negatively impacted by a provision of SEK 3.8 billion related to the European Commission’s competition investigation
* Operating income excluding items affecting comparability rose by 9 percent to SEK 5,148 m. (4,737), resulting in an operating margin of 10.3 (10.1) percent
* Net sales rose by 7 percent to SEK 50,110 m. (46,798)
* Cash flow amounted to SEK -492 m. (1,106) in Vehicles and Services
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Scania’s sales during the first nine months of 2015 rose to SEK 69.7 billion and earnings amounted to SEK 7,046 m., resulting in an operating margin of 10.1 percent (9.7).
Scania Interim Report January-September 2014Scania Group
“Scania's earnings for the first nine months of 2014 amounted to SEK 6,356 m. Positive currency rate effects and higher service volume were offset by a weaker market mix."
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Scania’s earnings for the first quarter amounted to SEK 2,257 m. Both vehicle and service volume increased, which was partly offset by weaker emerging markets currencies. Total order bookings for trucks during the first quarter were higher than the beginning of last year.
Scania reported operating income of SEK 8,455 million for full year 2013, a 2% increase over 2012. Net sales rose 9% to SEK 86,847 million due to record vehicle and service volumes, though currency effects reduced revenues. Order bookings increased 12% overall but fell 20% in Q4 2013 as pre-buys in Europe impacted demand. Production volume will be adjusted in Q1 2014 in response to lower order bookings, including a reduction of about 300 personnel. The CEO commented that the economic environment in Europe has stabilized and there is replacement demand, while opportunities exist in emerging markets.
1. 28 April 2010
Scania Interim Report January-March 2010
Operating income rose to SEK 2,130 m. (506) and earnings per share rose to SEK 1.78 (0.22)
Net sales increased by 4 percent to SEK 16,503 m. (15,859)
Cash flow amounted to SEK 2,366 m. (874) in Vehicles and Services
Comments by Leif Östling, President and CEO
“Scania’s operating income in the first quarter of 2010 rose to SEK 2,130 m. The increase is explained
primarily by improved capacity utilisation and cost reductions that were implemented last year. In the first
quarter of 2009, Scania had low capacity utilisation and sizeable excess inventory due to low demand. The
improvement in capacity utilisation was mainly due to strong demand in Brazil, where the truck market has
benefited from both tax breaks and interest rate subsidies. Scania has taken advantage of the Group’s
common global product range and has been able to swiftly meet the strong demand in Latin America.
Demand in the European truck market improved somewhat from a very low level. There is still overcapacity
among hauliers, and freight prices are thus depressed. Small and medium-sized companies are continuing
to have difficulty finding financing for their operations and vehicles, especially in central and eastern
Europe. In Asia, a recovery is under way in all truck segments. Demand for buses and coaches was stable.
The market for engines improved, especially in Latin America. Activity in the transport business has
improved, contributing to higher demand for services, especially in Latin America and Asia. Cash flow in
Vehicles and Services totalled SEK 2,366 m. Together with the reduced portfolio in Financial Services, the
Group’s net debt decreased by SEK 5,7 billion. In April, Scania launched a new range of V8 engines,
including a completely new top-of-the-line model with an output of 730 hp, making it the most powerful
engine to date in the truck market. This means that Scania has all the technical solutions and also the
engine platform needed to fulfil the Euro 6 emission standards that go into effect at the end of 2013. In
Scania’s overall assessment, the level of demand in the first quarter will continue during the second
quarter. Capacity utilisation in the production network will gradually improve during the second quarter.”
Q1 Change, %
Trucks and buses
Units 2010 2009
– Order bookings 16,151 6,061 166
– Deliveries 11,947 11,304 6
Net sales and earnings
SEK m. (unless otherwise stated) EUR m.*
Net sales, Scania Group 1,694 16,503 15,859 4
Operating income, Vehicles and Services 220 2,140 462 -
Operating income, Financial Services -1 -10 44 -
Operating income 219 2,130 506 -
Income before taxes 206 2,007 164 -
Net income for the period 146 1,424 179 -
Operating margin, percent 12.9 3.2
Return on equity, percent 10.4 28.8
Return on capital employed,
Vehicles and Services, percent 13.4 31.7
Earnings per share, SEK 1.78 0.22
Cash flow, Vehicles and Services 243 2,366 874
Number of shares: 800 million
* Translated to EUR solely for the convenience of the reader at a balance sheet date exchange rate of SEK 9.74 = EUR 1.00.
Unless otherwise stated, all comparisons refer to the corresponding period of the preceding year.
This report has not been reviewed by the company’s auditors. The report is also available on www.scania.com
Scania AB (publ) SE-151 87 Södertälje tel. +46 8 553 810 00
Swedish corporate identity number Sweden fax +46 8 553 810 37
556184-8564 www.scania.com
2. Business overview Order bookings, Scania trucks
Vehicles and Services Q1 Q1
During the first quarter of 2010, total deliveries Change, %
2010 2009
increased by 6 percent to 11,947 (11,304) Western Europe 5,635 1,856 204
vehicles, compared to the equivalent period of Central and 1,267 230 451
2009. Net sales rose by 4 percent to SEK 16,503 eastern Europe
m. Currency rate effects, excluding currency Latin America 4,439 1,659 168
hedges, had a negative impact of 3 percent. Asia 2,651 585 353
Order bookings increased sharply to 16,151 Other markets 633 453 40
(6,061) vehicles compared to the first quarter of Total 14,625 4,783 206
2009, which was characterised by large-scale
cancellations and great uncertainty among Deliveries, Scania trucks
customers. Q1 2010 Q1 2009 Change, %
Western Europe 3,650 5,131 -29
In April, Scania launched a new range of V8
Central and 1,027 861 19
engines, including an entirely new top-of-the-line
eastern Europe
model that is the most powerful engine to date in
Latin America 3,750 2,113 77
the truck market. The engine features an output of
Asia 1,311 1,237 6
730 horsepower and has a torque of 3500 Nm.
Other markets 534 595 -10
The engine is mainly intended for the heaviest,
Total 10,272 9,937 3
most demanding long-haulage segments. With the
introduction of the new V8 engines, Scania has all
Number of Scania truck registrations, Scania’s 10
the technical solutions and also the engine
largest markets, January-December
platform needed to fulfil the Euro 6 emission
Q1 2010 Q1 2009 Change, %
standards that go into effect at the end of 2013.
Brazil 3,401 1,844 84.4
Due to the sharp downturn in demand early in Germany 945 942 0.3
2009, Scania introduced reduced working hours in Great Britain 732 883 -17.1
a number of European countries, including a four- France 472 737 -36.0
day week in Sweden. The reductions were Russia* 376 301 24.9
extended to cover the first half of 2010. But due to Netherlands 368 782 -52.9
strong demand in Brazil and continued gradual Sweden 347 568 -38.9
improvement in Europe, in April Scania was able Iran* 334 488 -31.6
to speed up its production rate and resume the Turkey 289 207 39.6
five-day week in April and May for about 3,500 Poland 270 208 29.8
employees, especially those involved in the * Refers to delivered trucks
manufacture of components. Scania was thus able
to take advantage of the Group’s common global Scania’s market share, heavy trucks, Scania’s 10
product range and to swiftly supply Brazil with largest markets, percent, January-December
components from its European production unit. Q1 2010 Q1 2009
Brazil 27.5 26.6
Trucks Germany 10.2 7.9
In Europe, demand improved somewhat during Great Britain 21.4 17.3
the first quarter of 2010, compared to the second France 7.8 7.5
half of 2009, but the recovery is occurring slowly. Russia* - -
In many European markets, the truck population Netherlands 16.0 18.6
had a relatively low average age when the Sweden 40.2 40.6
recession began, and transport companies also Iran* - -
generally ended up with overcapacity. Freight Turkey 9.8 12.0
prices are depressed and small and medium-sized Poland 17.0 13.6
companies, especially in central and eastern * Refers to delivered trucks
Europe, are having difficulty in finding financing for
their operations and vehicles. In Latin America,
2
3. demand remains at a high level, especially in Order bookings, Scania buses and coaches
Brazil, where growth is very strong. This market Q1 2010 Q1 2009 Change, %
is being sustained by interest rate subsidies and Europe 316 573 -45
tax breaks. In Asia, a recovery is under way in all Latin America 465 232 100
segments. Asia and other
745 473 58
Sales of used trucks rose gradually during 2009. markets
In the first quarter of 2010, volume was 60 Total 1,526 1,278 19
percent higher than in the year-earlier period.
Deliveries, Scania buses and coaches
Higher activity in the used truck market during the
Q1 2010 Q1 2009 Change, %
second half of 2009 and early in 2010 resulted in
Europe 439 537 18
a higher inventory turnover rate. Used vehicle
Latin America 488 298 64
prices stabilised at a low level during the first
Asia and other
quarter of 2010. 748 532 41
markets
Scania’s order bookings during the first quarter Total 1,675 1,367 23
of 2010 amounted to 14,625 (4,783) trucks, an
increase of 206 percent. Net sales by market (SEK m.), Scania’s 10 largest
markets, January-March
The first quarter of 2009 was characterised by
large-scale cancellations and great uncertainty Q1 2010 Q1 2009 Change, %
among customers, which resulted in a very low Brazil 3,685 1,883 96
level of orders in several regions. In western United
Europe, order bookings were up 204 percent to 1,271 1,429 -11
Kingdom
5,635 (1,856) units during the first quarter of Germany 1,074 1,105 -3
2010. Demand increased in virtually all markets.
Sweden 805 1,166 -31
Great Britain was favourably affected by a major
Norway 724 1,066 -32
order totalling 1,000 trucks for the Stobart Group.
Netherlands 681 1,112 -39
In central and eastern Europe, order bookings
rebounded from a very low level to 1,267 (230) France 631 866 -27
trucks during the period. The upturn was mainly Finland 546 662 -18
attributable to Russia and Poland. Italy 471 461 2
In Latin America, order bookings climbed 168 Denmark 392 547 -28
percent during the first quarter. Order bookings were especially strong in Brazil, which accounted for the
bulk of the upturn. Order bookings in Asia rose 353 percent, with several markets in the Middle East
showing major increases. In other markets, Scania noted an upturn in its markets in southern Africa.
Scania’s truck deliveries increased by 3 percent to a total of 10,272 (9,937) during the first quarter of
2010, compared to the same period of 2009. In western Europe, deliveries fell by 29 percent. In central and
eastern Europe, deliveries rose by 19 percent; the upturn was attributable to Russia and Poland.
In Latin America, the delivery upturn was 77 percent, which was explained by very strong growth in Brazil.
In Asia, the upturn was attributable to Turkey. In other markets, deliveries decreased by 10 percent.
Net sales of trucks fell by 5 percent to SEK 8,794 m. (9,270) during the first quarter of 2010.
The total market for heavy trucks in 25 of the European Union member countries (all EU countries
except Greece and Malta) plus Norway and Switzerland fell by 29 percent to about 35,300 units
during the first quarter of 2010. Scania truck registrations amounted to some 5,000 units, equivalent
to a market share of about 14.2 (13.9) percent.
3
4. Buses and coaches
Scania’s order bookings for buses and coaches Vehicles delivered (number)
rose by 19 percent to 1,526 (1,278) units during
24 000
the first quarter.
21 000
In Europe, demand was down by 45 percent 18 000 2007
compared to the first quarter of 2009. In western 15 000
2008
Europe, demand fell mainly in Great Britain. In 12 000
2009
central and eastern Europe, Scania noted 9 000
2010
continued low demand. 6 000
3 000
In Latin America, order bookings rose by 100 0
percent during the first quarter. Order bookings Q1 Q2 Q3 Q4
were higher in most markets, especially in Peru.
In Asia and other markets, order bookings Net sales (SEK m.
increased by 57 percent during the same period.
25 000
Scania’s bus and coach deliveries totalled 1,675
(1,367) units during the first quarter. In Europe, 20 000
2007
deliveries fell by 18 percent to 439 units, with a 15 000 2008
general downturn in most markets. The upturn in 2009
10 000
Latin America was related to Brazil. In Asia and
2010
other markets, deliveries increased by 41 percent. 5 000
Net sales of buses and coaches increased by 2 0
percent to SEK 1,893 m. (1,853) during the first Q1 Q2 Q3 Q4
quarter.
Operating income (SEK m.)
Engines
Scania Engines is expanding its global service 4 000
network, especially in North America, where 3 600
Scania has signed a long-term agreement to 3 200
2 800 2007
supply engines to Terex, a leading manufacturer 2 400
of construction and industrial machinery, starting 2008
2 000
in 2011. 1 600 2009
1 200 2010
Scania’s new industrial engine platform, which 800
meets future legally mandated emission 400
0
standards, is continuing to awaken interest among
Q1 Q2 Q3 Q4
large customers. Delivery of these new engines
will begin late in 2010.
Order bookings for engines rose by 184 percent to 1,499 (527) units during the first quarter of 2010. The
increase was explained by a general upturn in most market areas. Engine deliveries rose by 46 percent to
1,413 (971) units during the first quarter, and net sales increased by 27 percent to SEK 253 m. (199).
Services
Service revenue decreased by 5 percent to SEK 3,971 m. (4,165) during the first quarter of 2010. Service
volume rose somewhat, especially in Asia and Latin America. Higher volume was offset by negative
currency rate effects.
Scania is focusing on boosting the efficiency and capacity utilisation of workshops. Despite lower demand,
Scania is continuing to expand its own service network by means of new and updated service workshops,
in order to improve accessibility and service to customers. Late 2009 Scania acquired an independent
dealership in Denmark. With customers’ uptime in mind, Scania is also adding more vehicle-related
services by providing repairs, maintenance and parts for trailers, superstructures and bus and coach
bodies, as well as an enhanced service offering for older vehicles.
4
5. Earnings
Vehicles and Services
Operating income in Vehicles and Services totalled SEK 2,140 m. (462) during the first quarter of 2010.
Higher capacity utilisation as a consequence of the significantly improved inventory situation and measures
initiated in 2009 to reduce the cost level had a positive effect on earnings. This was counteracted by lower
price on new trucks, mainly in Europe.
Scania’s research and development expenditures amounted to SEK 844 m. (859). After adjusting for SEK
76 m. (55) in capitalised expenditures and SEK 42 m. (120) in depreciation of previously capitalised
expenditures, recognised expenses decreased by SEK 114 m. to SEK 810 m. (924).
Compared to the first quarter of 2009, currency spot rate effects amounted to SEK -130 m. Currency
hedging income totalled SEK 150 m. During the first quarter of 2009, currency hedging income amounted
to SEK -900 m. The overall currency rate effect was thus about SEK 920 m.
Financial Services
At the end of the first quarter of 2010, the size of Scania’s customer finance portfolio amounted to SEK
37.4 billion, which represented a downturn of SEK 3.0 billion since year-end 2009. In local currencies, the
portfolio shrank by 3.4 percent, equivalent to SEK 1.4 billion.
The penetration rate was 41 (38) percent, measured as rolling twelve-month figures in those markets
where Scania has its own financing operations.
Operating income in Financial Services amounted to SEK -10 m. (44) during the first quarter of 2010.
Hauliers have been affected by decreasing demand for transport services, which has led to lower volume
and depressed freight prices. The downturn began late in 2008, and compared to the first quarter of 2009
the number of delayed payments in the first quarter of 2010 stabilised. Bad debt expenses were mainly
attributable to central and eastern Europe.
Scania Group
In the first quarter of 2010, Scania’s operating income amounted to SEK 2,130 m. (506). Operating margin
increased to 12.9 (3.2) percent. Scania’s net financial items amounted to SEK -123 m. (-342). Net interest
items amounted to SEK -94 m. (-223). Net interest items were affected by the lower net debt situation.
Other financial income and expenses amounted to SEK -29 m. (-119).
The Scania Group’s tax expense amounted to SEK -583 m. (15). Net income for the period totalled
SEK 1,424 m. (179), corresponding to a net margin of 8.6 (1.1) percent. Earnings per share amounted
to SEK 1.78 (0.22).
Cash flow
Vehicles and Services
Scania’s cash flow in Vehicles and Services amounted to SEK 2,366 m. (874) during the first quarter
of 2010. Tied-up working capital decreased by SEK 611 m., mainly due to a higher production rate
affecting liabilities positively and to lower inventories of used vehicles.
Net investments amounted to SEK 360 m. (915), including SEK 76 m. (55) in capitalisation of development
expenses. The gradual downturn was related to a slower pace of capital spending and was partly due to
postponed investments. At the end of the first quarter of 2010, Scania’s net debt position amounted to SEK
1,491 m., compared to a net debt position of SEK 7,404 m. on the same date in 2009.
Scania Group
Scania’s cash flow in Financial Services amounted to SEK 1,698 m. (895) during the first quarter of 2010,
due to the reduced customer finance portfolio. Together with the positive cash flow in Vehicles and
Services as well as the effect of the stronger Swedish krona, this reduced the Group’s net debt by SEK 5.7
billion. compared to the end of 2009.
5
6. Parent Company
The assets of the Parent Company, Scania AB, consist of shares in Scania CV AB. Scania CV AB is the
parent company of the group that comprises all production and sales and service companies as well as
other companies. Income before taxes of Scania AB totalled SEK 2 m. (7) during the first quarter of 2010.
Miscellaneous
Number of employees
At the end of the first quarter of 2010, the number of employees totalled 32,318, compared to 33,631 on
the same date in 2009.
Material risks and uncertainty factors
The section entitled risk and risk management” in Scania’s Annual Report for 2009 describes Scania’s
strategic, operational, legal and financial risks. Note 2 of the same report provides a detailed account of
key judgements and estimates. Note 30 of the same report describes the financial risks, such as currency
risk and interest rate risk. The risks that have the greatest impact on financial performance and on
reporting for the Group and the Parent Company are summarised as follows:
a) Sales with obligations
About 10 percent of the vehicles Scania sells are delivered with residual value obligations or repurchase
obligations. These are recognised as operating lease contracts, with the consequence that recognition of
revenue and earnings is allocated over the life of the obligation (contract). If there are major changes in the
market value of used vehicles, this increases the risk of future losses when selling returned vehicles. When
a residual value obligation is deemed likely to cause a future loss, a provision is made in cases where the
expected loss exceeds the as-yet-unrecognised profit on the vehicle. At the end of the first quarter of
2010, obligations related to residual value or repurchases amounted to SEK 5,928 m., compared to SEK
6,306 m. at the end of 2009.
b) Credit risks
In its Financial Service operations, Scania has an exposure in the form of contractual future payments.
This exposure is reduced by the collateral Scania has in the form of the right to repossess the underlying
vehicle. In case the market value of the collateral does not cover the exposure to the customer, Scania
runs a credit risk. Reserves for probable losses in Financial Service operations are set aside in the
estimated amounts required.
Accounting principles
Scania applies International Financial Reporting Standards (IFRSs) as adopted by the EU. This Interim
Report of the Scania Group has been prepared in accordance with IAS 34, “Interim Financial Reporting”
and the Annual Accounts Act. New accounting standards being applied starting on 1 January 2010 are as
follows:
Revised IFRS 3, “Business Combinations” – the standard deals with reporting of business combinations
(acquisitions of businesses) and includes a number of changes. The main changes concern the definition
of a business combination, two alternative methods for reporting goodwill and the requirement that
transaction costs be recognized as expenses when they arise. The standard is applied prospectively to
acquisitions implemented after 1 January 2010. The revised standard did not affect Scania’s financial
reports during the period.
Other changes in IFRSs that enter into force on 1 January 2010 have not had any material impact on
Scania’s accounting.
The Interim Report for the Parent Company, Scania AB, has been prepared in accordance with the Annual
Accounts Act and recommendation RFR 2.3, “Accounting for Legal Entities” of the Swedish Financial
Accounting Board.
6
7. Annual General Meeting and proposed dividend
Scania’s Annual General Meeting will be held on Thursday, 6 May 2010 at Scaniarinken, AXA Sports
Center, in Södertälje, Sweden. The Board of Directors proposes a dividend for 2009 of SEK 1.00 (2.50) per
share, with 11 May 2010 as the record date. Provided that the AGM approves this proposal, the dividend
can be expected to be sent on 17 May 2010.
Södertälje, 28 April 2010
Leif Östling
President and CEO
Financial information from Scania
Scania’s Interim Report for January-June 2010 will be published on 23 July 2010.
This report contains forward-looking statements that reflect management’s current views with respect to certain future
events and potential financial performance. Such forward-looking statements involve risks and uncertainties that could
significantly alter potential results. These statements are based on certain assumptions, including assumptions related
to general economic and financial conditions in the company’s markets and levels of demand for the company’s
products.
This report does not imply that the company has undertaken to revise these forward-looking statements, beyond what
is required by the rule book for issuers at the NASDAQ OMX Stockholm, if and when circumstances arise that will
lead to changes compared to the date when these statements were issued.
The Year-end Report for 2009 stated the following:
“In the truck market the fall in demand has flattened out at a low level, and Scania is continuing to adjust its capacity,
costs and capital spending. Given its strengthened product portfolio, together with large-scale cost savings and
investments in employee training, Scania is well positioned for profitability and growth.”
Contact persons:
Per Hillström Erik Ljungberg
Investor Relations Corporate Relations
mobile tel. +46 70 648 30 52 tel. +46 8 553 835 57
mobile tel. +46 73 988 35 57
The information in this Interim Report is that which Scania is required to disclose under Sweden’s Securities
Market Act and/or the Financial Instruments Trading Act. It was released for publication at 09:10 CET on 28
April 2010.
7
8. Consolidated income statements
Q1 Change in Full year Apr 09-
Amounts in SEK m. unless otherwise stated EUR m.* 2010 2009 % 2009 Mar 10
Vehicles and Services
Net sales 1,694 16,503 15,859 4 62,074 62,718
Cost of goods sold -1,214 -11,832 -12,589 -6 -48,890 -48,133
Gross income 480 4,671 3,270 43 13,184 14,585
Research and development expenses -83 -810 -924 -12 -3,216 -3,102
Selling expenses -150 -1,458 -1,613 -10 -6,407 -6,252
Administrative expenses -27 -263 -274 -4 -918 -907
Share of income from associated
companies and joint ventures 0 0 3 5 2
Operating income, Vehicles and Services 220 2,140 462 2,648 4,326
Financial Services
Interest and lease income 106 1,028 1,257 -18 4,666 4,437
Interest and depreciation expenses -79 -758 -954 -21 -3,514 -3,318
Interest surplus 27 270 303 -11 1,152 1,119
Other income and expenses 3 26 25 4 44 45
Gross income 30 296 328 -10 1,196 1,164
Selling and administrative expenses -13 -129 -133 -3 -538 -534
Bad debt expenses -18 -177 -151 17 -833 -859
Operating income, Financial Services -1 -10 44 -175 -229
Operating income 219 2,130 506 2,473 4,097
Interest income and expenses -10 -94 -223 -58 -722 -593
Other financial income and expenses -3 -29 -119 -76 -149 -59
Total financial items -13 -123 -342 -64 -871 -652
Income before taxes 206 2,007 164 1,602 3,445
Taxes -60 -583 15 -473 -1,071
Net income for the period 146 1,424 179 1,129 2,374
Other comprehensive income:
Exchange rate differences -43 -415 248 188 -475
Hedge of net investments in foreign operations - - -4 -1 3
Cash flow hedges
gains/losses arising during the period 40 390 -220 719 1,329
reclassification to operating income -15 -148 897 2,155 1,110
Actuarial gains/losses on pensions - - 0 -84 -84
Income tax relating to components of other
comprehensive income -7 -72 -177 -741 -636
Other comprehensive income for the period -25 -245 744 2,236 1,247
Total comprehensive income for the period 121 1,179 923 3,365 3,621
Net income attributable to:
Scania shareholders 146 1,424 179 1,129 2,374
Non-controlling interest 0 0 0 0 0
Total comprehensive income attributable to:
Scania shareholders 121 1,179 923 3,365 3,621
Non-controlling interest 0 0 0 0 0
Depreciation included in operating income -68 -663 -777 -2,772 -2,658
1
Earnings per share, EUR/SEK (no dilution) 1.78 0.22 1.41 2.97
Return on equity, percent 1, 2 10.4 28.8 5.1
Operating margin, percent 12.9 3.2 4.0 6.5
1
Attributable to Scania shareholders' portion of net income.
2
Calculations are based on rolling 12-month income.
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 9.74 = EUR 1.00.
8
9. Net sales and deliveries, Vehicles and Services
Q1 Change in Full year Apr 09-
Amounts in SEK m. unless otherwise stated EUR m. 2010 2009 % 2009 Mar 10
Net sales
Trucks 903 8,794 9,270 -5 32,832 32,356
Buses * 194 1,893 1,853 2 8,837 8,877
Engines 26 253 199 27 821 875
Service-related products 408 3,971 4,165 -5 15,904 15,710
Used vehicles 117 1,143 813 41 4,403 4,733
Miscellaneous 55 538 -280 -208 610
Delivery sales value 1,703 16,592 16,020 4 62,589 63,161
Revenue deferrals 3 -9 -89 -161 -515 -443
Net sales 1,694 16,503 15,859 4 62,074 62,718
Net sales 4
Western Europe 825 8,034 9,611 -16 33,498 31,921
Central and eastern Europe 140 1,362 1,362 0 5,468 5,468
Latin America 456 4,444 2,619 70 11,812 13,637
Asia 175 1,703 1,361 25 6,096 6,438
Other markets 98 960 906 6 5,200 5,254
Net sales 1,694 16,503 15,859 4 62,074 62,718
Total delivery volume, units
Trucks 10,272 9,937 3 36,807 37,142
Buses* 1,675 1,367 23 6,636 6,944
Engines 1,413 971 46 4,235 4,677
3
Refers to the difference between sales value based on deliveries and revenue recognised as income.
4
Revenues from external customers by location of customers.
* Including body-built buses and coaches.
9
10. Quarterly data, earnings
2010 2009
Amounts in SEK m. unless otherwise stated EUR m. Q1 Q4 Q3 Q2 Q1
Vehicles and Services
Net sales 1,694 16,503 18,360 13,426 14,429 15,859
Cost of goods sold -1,214 -11,832 -14,023 -10,587 -11,691 -12,589
Gross income 480 4,671 4,337 2,839 2,738 3,270
Research and development expenses -83 -810 -802 -670 -820 -924
Selling expenses -150 -1,458 -1,789 -1,393 -1,612 -1,613
Administrative expenses -27 -263 -226 -186 -232 -274
Share of income in associated companies and joint
ventures 0 0 4 -2 0 3
Operating income, Vehicles and Services 220 2,140 1,524 588 74 462
Financial Services
Interest and lease income 106 1,028 1,131 1,086 1,192 1,257
Interest and depreciation expenses -79 -758 -851 -825 -884 -954
Interest surplus 27 270 280 261 308 303
Other income and expenses 3 26 2 11 6 25
Gross income 30 296 282 272 314 328
Selling and administrative expenses -13 -129 -137 -130 -138 -133
Bad debt expenses -18 -177 -238 -211 -233 -151
Operating income, Financial Services -1 -10 -93 -69 -57 44
Operating income 219 2,130 1,431 519 17 506
Interest income and expenses -10 -94 -139 -169 -191 -223
Other financial income and expenses -3 -29 -56 33 -7 -119
Total financial items -13 -123 -195 -136 -198 -342
Income before taxes 206 2,007 1,236 383 -181 164
Taxes -60 -583 -414 -105 31 15
Net income for the period 146 1,424 822 278 -150 179
Earnings per share, SEK * 1.78 1.03 0.35 -0.19 0.22
Operating margin, in percent 12.9 7.8 3.9 0.1 3.2
* Attributable to Scania shareholders' portion of net income.
10
11. Consolidated balance sheets by business segment
2010 2009
Amounts in SEK m.
unless otherwise stated EUR m. 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
Vehicles and Services
Assets
Non-current assets
Intangible non-current assets 232 2,253 2,292 2,259 2,281 2,267
Tangible non-current assets 2,184 21,283 22,016 21,566 21,994 21,491
Lease assets 376 3,663 4,008 3,956 4,485 4,475
Shares and participations 50 489 488 450 494 527
Interest-bearing receivables 15 148 168 79 99 19
Other receivables 5, 6 205 1,994 2,243 2,405 2,032 1,751
Current assets
Inventories 1,225 11,936 11,762 13,056 14,258 14,591
Interest-bearing receivables 16 152 148 151 200 212
Other receivables 7 983 9,571 8,779 9,380 9,758 11,567
Short-term investments 3 30 47 37 29 78
Cash and cash equivalents 853 8,305 6,601 5,356 6,100 5,851
Total assets 6,142 59,824 58,552 58,695 61,730 62,829
Equity and liabilities
Equity
Scania shareholders 2,071 20,170 18,884 17,769 17,035 18,124
Non-controlling interest 0 1 1 1 1 1
Total equity 2,071 20,171 18,885 17,770 17,036 18,125
Interest-bearing liabilities 1,010 9,838 10,204 11,358 12,739 12,083
Non-current liabilities
Provisions for pensions 512 4,986 4,963 4,853 4,856 4,685
Other provisions 193 1,876 1,784 1,825 1,840 1,605
Other liabilities 5, 8 407 3,964 4,038 4,390 4,859 5,046
Current liabilities
Provisions 115 1,123 1,097 1,098 1,255 1,424
Other liabilities 9 1,834 17,866 17,581 17,401 19,145 19,861
Total equity and liabilities 6,142 59,824 58,552 58,695 61,730 62,829
5
Including deferred tax
6
Including derivatives with positive value for hedging of
borrowings 58 566 848 974 545 537
7
Including derivatives with positive value for hedging of
borrowings 58 579 175 212 225 369
8
Including derivatives with negative value for hedging of
borrowings 68 661 686 839 1,162 1,292
9
Including derivatives with negative value for hedging of
borrowings 48 472 819 709 984 864
Net cash (-) / Net debt (+) excl. provisions
for pensions, incl. derivatives as above 154 1,491 4,038 6,327 7,986 7,404
11
12. Consolidated balance sheets by business segment
2010 2009
Amounts in SEK m.
unless otherwise stated EUR m. 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
Financial Services
Assets
Non-current assets
Intangible non-current assets 3 25 25 26 27 23
Tangible non-current assets 3 31 33 33 38 41
Lease assets 857 8,345 8,898 8,142 8,910 9,069
Financial receivables 1,810 17,632 19,097 20,316 22,605 23,766
Other receivables 10 12 121 135 93 104 74
Current assets
Financial receivables 1,174 11,439 12,409 12,493 13,145 13,754
Other receivables 105 1,024 1,212 1,052 1,403 1,071
Cash and cash equivalents 34 327 499 457 273 244
Total assets 3,998 38,944 42,308 42,612 46,505 48,042
Equity and liabilities
Equity
Scania shareholders 443 4,311 4,418 4,285 4,561 4,736
Total equity 443 4,311 4,418 4,285 4,561 4,736
Interest-bearing liabilities 3,374 32,870 36,228 36,519 40,099 41,389
Non-current liabilities
Provisions for pensions 2 19 20 21 22 22
Other provisions 0 4 3 3 3 3
Other liabilities 10 63 612 700 674 724 737
Current liabilities
Provisions 1 5 3 0 2 1
Other liabilities 115 1,123 936 1,110 1,094 1,154
Total equity and liabilities 3,998 38,944 42,308 42,612 46,505 48,042
10
Including deferred tax
12
13. Consolidated balance sheets by business segment
2010 2009
Amounts in SEK m.
unless otherwise stated EUR m. 31 Mar 31 Dec 30 Sept 30 Jun 31 Mar
Eliminations
Assets
Lease assets -178 -1,732 -1,789 -1,783 -1,961 -1,917
Other current receivables -65 -634 -620 -636 -882 -560
Total assets -243 -2,366 -2,409 -2,419 -2,843 -2,477
Equity and liabilities
Other current liabilities -243 -2,366 -2,409 -2,419 -2,843 -2,477
Total equity and liabilities -243 -2,366 -2,409 -2,419 -2,843 -2,477
Scania Group
Assets
Non-current assets
Intangible non-current assets 235 2,278 2,317 2,285 2,308 2,290
Tangible non-current assets 2,187 21,314 22,049 21,599 22,032 21,532
Lease assets 1,055 10,276 11,117 10,315 11,434 11,627
Shares and participations 50 489 488 450 494 527
Interest-bearing receivables 1,825 17,780 19,265 20,395 22,704 23,785
Other receivables 11, 12 217 2,115 2,378 2,498 2,136 1,825
Current assets
Inventories 1,225 11,936 11,762 13,056 14,258 14,591
Interest-bearing receivables 1,190 11,591 12,557 12,644 13,345 13,966
Other receivables 13 1,023 9,961 9,371 9,796 10,279 12,078
Short-term investments 3 30 47 37 29 78
Cash and cash equivalents 887 8,632 7,100 5,813 6,373 6,095
Total assets 9,897 96,402 98,451 98,888 105,392 108,394
Total equity and liabilities
Equity
Scania shareholders 2,514 24,481 23,302 22,054 21,596 22,860
Non-controlling interest 0 1 1 1 1 1
Total equity 2,514 24,482 23,303 22,055 21,597 22,861
Non-current liabilities
Interest-bearing liabilities 2,185 21,282 26,504 29,164 31,609 25,605
Provisions for pensions 514 5,005 4,983 4,874 4,878 4,707
Other provisions 193 1,880 1,787 1,828 1,843 1,608
Other liabilities 11, 14 470 4,576 4,738 5,064 5,583 5,783
Current liabilities
Interest-bearing liabilities 2,199 21,426 19,928 18,713 21,229 27,867
Provisions 116 1,128 1,100 1,098 1,257 1,425
Other liabilities 15 1,706 16,623 16,108 16,092 17,396 18,538
Total equity and liabilities 9,897 96,402 98,451 98,888 105,392 108,394
11
Including deferred tax
12
Including derivatives with positive
value for hedging of borrowings 58 566 848 974 545 537
13
Including derivatives with positive
value for hedging of borrowings 58 579 175 212 225 369
14
Including derivatives with negative
value for hedging of borrowings 68 661 686 839 1,162 1,292
15
Including derivatives with negative
value for hedging of borrowings 48 472 819 709 984 864
Equity/assets ratio, percent 25.4 23.7 22.3 20.5 21.1
13
14. Statement of changes in equity
Q1 Full year
Amounts in SEK m. unless otherwise stated EUR m. 2010 2009 2009
Equity, 1 January 2,393 23,303 21,938 21,938
Net income for the period 146 1,424 179 1,129
Other comprehensive income for the period -25 -245 744 2,236
Change in non-controlling interest - - - -
Dividend - - - -2,000
Total equity at the end of the period 2,514 24,482 22,861 23,303
Attributable to:
Scania AB shareholders 2,514 24,481 22,860 23,302
Non-controlling interest 0 1 1 1
Information about segments
Q1 Full year Apr 09 -
Amounts in SEK m. unless otherwise stated EUR m. 2010 2009 2009 Mar 10
Revenue from external customers, Vehicles
and Services 1,694 16,503 15,859 62,074 62,718
Revenue from external customers, Financial
Services 106 1,028 1,257 4,666 4,437
Elimination of intra-segment revenue within
Vehicles and Services -44 -429 -492 -1,842 -1,779
Revenue from external customers, Scania
Group* 1,756 17,102 16,624 64,898 65,376
Operating income, Vehicles and Services 220 2,140 462 2,648 4,326
Operating income, Financial Services -1 -10 44 -175 -229
Operating income, Scania Group 219 2,130 506 2,473 4,097
* Revenue from Scania Group reported in Volkswagen interim report for Q1 2010 amounts to EUR 1, 723 m.
The difference from above reported revenue is mainly due to a difference in the presentation of hedge
result in the consolidated income statement.
14
15. Cash flow statement
2010 2009
Amounts in SEK m. unless otherwise stated EUR m. Q1 Q4 Q3 Q2 Q1
Operating activities
Income before taxes 206 2,007 1,236 383 -181 164
Items not affecting cash flow 83 811 1,080 686 847 1,013
Taxes paid -53 -518 -264 -287 -536 -49
Cash flow from operating activities
before change in working capital 236 2,300 2,052 782 130 1,128
of which: Vehicles and Services 216 2,102 1,949 636 -77 1,073
Financial Services 20 198 103 146 207 55
Change in working capital etc., Vehicles and Services 63 611 1,315 1,098 2,059 608
Cash flow from operating activities 299 2,911 3,367 1,880 2,189 1,736
Investing activities
Net investments, Vehicles and Services -36 -347 -769 -625 -948 -807
Net investments in credit portfolio etc., Financial Services 154 1,500 547 1,553 1,564 840
Cash flow from investing activities 118 1,153 -222 928 616 33
Cash flow from Vehicles and Services 243 2,366 2,495 1,109 1,034 874
Cash flow from Financial Services 174 1,698 650 1,699 1,771 895
Financing activities
Change in net debt from financing activities -252 -2,451 -2,017 -3,302 -788 -442
Dividend to shareholders 0 0 - - -2,000 -
Cash flow from financing activities -252 -2,451 -2,017 -3,302 -2,788 -442
Cash flow for the year 165 1,613 1,128 -494 17 1,327
Cash and cash equivalents at beginning of period 729 7,100 5,813 6,373 6,095 4,581
Exchange rate differences in cash and cash equivalents -9 -84 159 -66 261 187
Cash and cash equivalents at end of period 885 8,629 7,100 5,813 6,373 6,095
15
16. Number of employees
2010 2009
31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
Production and corporate units 14,250 14,672 14,452 14,885 15,377
Research and development* 3,091 2,642 2,638 2,696 2,792
Sales and service companies 14,419 14,475 14,462 14,527 14,949
Vehicles and Services 31,760 31,789 31,552 32,108 33,118
Financial Services 558 541 533 515 513
Total number of employees 32,318 32,330 32,085 32,623 33,631
*Due to a structural change related to Procurement, about 450 people were transferred from
"Production and corporate units" to "Research and development" as from January 2010.
16
17. Quarterly data, units by geographic area
2010 2009
Q1 Full year Q4 Q3 Q2 Q1
Order bookings, trucks
Western Europe 5,635 12,644 4,773 3,014 3,001 1,856
Central and eastern Europe 1,267 2,568 1,107 815 416 230
Latin America 4,439 11,214 4,324 3,668 1,563 1,659
Asia 2,651 4,208 1,415 945 1,263 585
Other markets 633 2,374 693 567 661 453
Total 14,625 33,008 12,312 9,009 6,904 4,783
Trucks delivered
Western Europe 3,650 16,669 4,461 3,354 3,723 5,131
Central and eastern Europe 1,027 3,239 1,192 637 549 861
Latin America 3,750 9,566 3,649 2,026 1,778 2,113
Asia 1,311 4,843 1,720 939 947 1,237
Other markets 534 2,490 606 605 684 595
Total 10,272 36,807 11,628 7,561 7,681 9,937
Order bookings, buses*
Western Europe 293 1,609 492 229 326 562
Central and eastern Europe 23 103 17 64 11 11
Latin America 465 1,538 477 517 312 232
Asia 550 1,718 410 705 417 186
Other markets 195 826 176 110 253 287
Total 1,526 5,794 1,572 1,625 1,319 1,278
Buses delivered*
Western Europe 417 1,851 555 366 457 473
Central and eastern Europe 22 233 78 48 43 64
Latin America 488 1,421 587 304 232 298
Asia 641 1,876 617 534 440 285
Other markets 107 1,255 288 210 510 247
Total 1,675 6,636 2,125 1,462 1,682 1,367
* Including body-built buses and coaches.
17
18. Parent Company Scania AB, financial statements
Q1 Full year
Amounts in SEK m. unless otherwise stated EUR m. 2010 2009 2009
Income statement
Operating income* 0 0 - -11
Financial income and expenses 0 2 7 2,017
Reversal untaxed reserve - - 814
Income taxes 0 0 -3 -209
Net income 0 2 4 2,611
2010 2009 2009
Amounts in SEK m. unless otherwise stated EUR m. 31 Mar 31 Mar 31 Dec
Balance sheet
Assets
Financial non-current assets
Shares in subsidiaries 863 8,401 8,401 8,401
Current assets
Due from subsidiaries 390 3,802 4,618 3,800
Total assets 1,253 12,203 13,019 12,201
Equity and liabilities
Equity 1,253 12,203 12,202 12,201
Untaxed reserves 0 0 814 -
Current liabilities
Tax liabilities - - 3 -
Total shareholders' equity and liabilities 1,253 12,203 13,019 12,201
2010 2009 2009
Amounts in SEK m. unless otherwise stated EUR m. 31 Mar 31 Mar 31 Dec
Statement of changes in equity
Equity, 1 January 1,253 12,201 12,198 12,198
Net income 0 2 4 2,611
Group contributions,net 0 0 - -608
Dividend 0 0 - -2,000
Equity, 31 December 1,253 12,203 12,202 12,201
* Refers to administrative expenses
18