Scania releases interim report

In Scania’s Interim Report – January to March 2012, the manufacturer reveals its operating income for the first quarter of 2012 fell to SEK 2323m and earnings per share fell to SEK 2.24. This is largely attributed to lower vehicle deliveries and lower capacity utilisation coupled with higher costs for future-related projects.

Net sales also decreased by 3 per cent to SEK 20,127m.

“Total deliveries fell due to a deceleration in demand in late 2011. Scania has adjusted its production rate to the current level of demand. Overall order bookings for trucks during the first quarter of 2012 were in line with the end of last year,” said Scania’s President and CEO, Leif Östling in the report.

During this period, there was also a higher number of order bookings for engines, driven mainly by Europe.

The report states that truck order bookings for the first quarter of 2012 were in line with the end of last year – however orders for Europe were lower than the fourth quarter of last year and the market in southern Europe was still at a low level.

In Latin America, truck orders were affected by the transition to Euro 5 vehicles in Brazil. From the second quarter, only Euro 5 vehicles will be delivered in Brazil. Truck order bookings in Argentina also fell. In Eurasia, demand remains at a good level. IN the Middle East, order bookings were still low, and the report indicates an uncertain outlook for this region. In Asia, Scania secured large orders from machinery equipment manufacturers. China’s leading concrete pump manufacturer Zoomlion has ordered 810 trucks since the end of 2011.

Overall, Scania’s truck deliveries decreased by 15 per cent to a total of 14,849 units during the first quarter compared to the same period in 2011.

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