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SCANIA INTERIM REPORT JANUARY - SEPTEMBER 1997

Results in brief:

   

First nine months of 1997, compared to first nine months of 1996

Number of trucks and buses sold: 33,034 (31,872).

Sales: SEK 28,188 m. (24,566) [USD 3,714 m. (3,237)]1).

Operating income: SEK 2,043 m. (2,429) [USD 269 m. (320)], equivalent to a margin of 7.2 (9.9) percent.

Income after financial items: SEK 1,851 m. (2,142) [USD 244 m. (282)].

Net income: SEK 1,350 m. (1,530) [USD 178 m. (202)].

Earnings per share: SEK 6.75 (7.65) [USD 0.89 (1.01)].

Earnings per share according to U.S. GAAP: SEK 7.80 (7.60) [USD 1.03 (1.00)]. 

 

Third quarter of 1997, compared to third quarter of 1996

Number of trucks and buses sold: 10,601 (8,860).

Sales: SEK 9,247 m. (7,190) [USD 1,218 m. (947)]1).

Operating income: SEK 620 m. (136) [USD 82 m. (18 )], equivalent to a margin of 6.7 (1.9) percent.

Net income: SEK 349 m. (18) [USD 46 m. (2.3)].

Earnings per share: SEK 1.75 (0.10) [USD 0.23 (0.01)]. 

 

The market in brief:

First nine months of 1997, compared to first nine months of 1996

Order bookings for heavy trucks from western European markets rose by 20 percent.

Scania’s market share for heavy trucks in western Europe was 14.9 (15.5) percent.

In Latin America, truck deliveries rose by 34 percent. Scania’s market share in Brazil was 39.5 (37.5) percent. 

 

Comment by Leif Östling, President and CEO:

"Order bookings are increasing both in Europe and Latin America. Heavy price pressure in the European truck market is continuing, further underscoring the need for higher efficiency in Scania’s operations. Preparations are under way for the changeover to production of the 4-series in Latin America, while bus production units in Europe are in the midst of their most intensive changeover phase. Taken together, this means that we expect a full year result for 1997 in the same range as 1996." 

 

1) Translated solely for the convenience of the reader at an exchange rate of SEK 7.59 = USD 1.00.

 

 

Lars Christiansson, Communications and Public Affairs

Tel +46 8 5538 1212, mobiletel +46 70 590 50 80

Thomas Skoglund, " "

Tel +46 8 5538 1258, mobiletel +46 70 556 07 97

Magnus Hahn, " "

Tel +46 8 5538 3510, mobiletel +46 70 551 79 03

Cecilia Edström, Investor Relations

Tel +46 8 5538 3557, mobiletel +46 70 588 35 57