Scania interim report January to September 2015
Summary of the first nine months of 2015
• Operating income rose by 11 percent to SEK 7,046 m. (6,356)
• Net sales rose by 6 percent to SEK 69,686 m. (65,638)
• Cash flow amounted to SEK 1,220 m. (2,213) in Vehicles and Services
Comments by Per Hallberg, President and CEO:
“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).
“Higher vehicle volume in Europe, increased service revenue and positive currency rate effects were offset by lower vehicle volume in Latin America and Eurasia.
“Compared to the third quarter last year, order bookings for trucks in Europe rose. Scania’s position in the European market remains strong with a market share of 16.6 percent compared to 15.0 percent in 2014, among other things thanks to a leading Euro 6 range.
“Order bookings in Latin America were at a low level compared to the year-earlier period and were also lower than the previous quarter of 2015. Demand in Eurasia continues to be adversely affected by the turbulence in the region.
“In Asia, order bookings decreased particularly in the Middle East, compared to the third quarter of last year and also compared to the previous quarter.
“Scania has increased its market share in buses and coaches in Europe to 6.8 percent, compared to 5.1 percent in 2014. Order bookings in Buses and Coaches were lower than the same period of the previous year.
“In Engines, order bookings fell, both compared to the previous year and the previous quarter due to lower demand for gensets in Latin America.
“Scania is continuing its long-term efforts to boost its service business and Service revenue increased by 7 percent during the third quarter. Financial Services showed a strong performance and customer payment capacity is still good.
“The level of activity related to development projects remains high and Scania is investing in expanded production and service capacity.”