Scania to be launched on the stock exchange
Scania’s owner, Investor AB, is planning to seek a floatation of Scania AB on the stock exchanges of Stockholm and New York. The announcement was made on Thursday in conjunction with the publishing of Scania’s year-end report. 1995 was Scania’s best year ever. Operating income rose to 5,352 million Swedish crowns. Sales reached a record level of 44,600 trucks and buses, an increase of 33 percent on the previous year.
”The world market for heavy trucks continued to grow during 1995,” says Scania’s President and CEO, Leif Östling. ”The launch of our new truck range confirms that Scania is a leading global industrial company. A floatation of Scania will also reinforce our position as a leading manufacturer of heavy vehicles.”
The planned floatation of Scania will be one of the largest non-privatisation issues ever in the international capital market. Investor intends to offer approximately 50% of the shares of Scania to international institutional investors, as well as to the public in Sweden. Another 20% of the shares will be offered to Investor’s shareholders, who will receive a combination of covered warrants and a special cash dividend. The planned initial public offering (IPO) will be presented in a prospectus during March.
For Scania, 1995 was a very successful year in terms of sales and income as well as market shares:
Scania’s market share in western Europe increased to 14.3 (12.8) percent.
A total of 44,600 (33,500) trucks and buses were sold, an increase of 33 percent.
Operating income rose to SEK 5,352 million (3,909), corresponding to a margin of
15.4 (14.7) percent.
Income after financial items amounted to SEK 4,847 million (3,686).
Net income rose to SEK 3,280 million (2,556).
The return on capital employed was 31.0 (27.2) percent.
For further information, please contact:
Lars Christiansson, Vice President Corporate Communications and Public Affairs,
Scania, tel. +46 8 5538 1212 (+46 70 590 5080).
Hans Rubenstein, Press Manager, tel. +46 8 5538 1258 (+46 70 556 0797).
Magnus Hahn, Manager Financial Communications, tel. +46 8 5538 3510
(+46 70 551 7903).