Scania Year-end Report January-December 2003

"Market developments during the year were in line with my expectations, and Scania’s earnings remained strong. The economic situation in western Europe is expected to improve somewhat during 2004, but for the time being, we are planning for largely unchanged volume. However, we expect the result to be impacted by higher amortisation of research and development costs, and reduced benefits from currency hedging," says Leif Östling, President and CEO.