CEO comment – Second quarter 2026

Scania performed strongly during the second quarter of the year. Truck order intake increased significantly, vehicle deliveries rose and service revenues continued to grow compared with the same period last year. Achieving this against a backdrop of macro-economic and geopolitical uncertainty, and an increasingly competitive global market is especially encouraging. It reflects the strength of our customer offering and the trust placed in Scania as a long-term partner. Customers value not only our products, but the complete offering that surrounds them – and particularly so in uncertain times.

I am proud of how the organisation came together during the quarter to overcome many of the delivery flow challenges we faced at the beginning of the year, enabling us to increase deliveries to customers. At the same time, we challenged our cost base and improved efficiency across the business. These efforts give us the financial strength and flexibility to continue investing in the technologies, digital capabilities and industrial footprint that will shape the future of transport.

Performance across our business areas was solid during the quarter. In the truck business, market conditions remained mixed across regions. While many customers were cautious about new investments, underlying replacement demand continued to support several European markets. Scania's truck order intake increased significantly, mainly driven by strong activity in Brazil through the Move Brazil loan programme and the continued ramp-up of NEXT ERA in China. Early customer feedback has been positive regarding fuel efficiency, reliability, comfort and total cost of ownership. Discussions with major fleet customers are advancing well. In addition, Scania’s global truck range produced in China is generating new business across a wider range of applications such as firefighting chassis and TIR tractors.

Truck deliveries increased compared with the same period last year. The Scania Super powertrain, including the Super 11-litre engine has now been launched globally and has been very well received by customers.

Buses and coaches continued to operate in a challenging market environment. Order intake remained subdued due to continued market uncertainty and high fuel prices, while deliveries were stable. In Power Solutions, order intake declined – a result of customers bringing forward purchases ahead of the transition to our new engine platform. Deliveries increased compared with the same period last year.

Our services business continued to perform strongly during the quarter. In an uncertain environment, customers increasingly prioritise vehicle uptime, operational efficiency and predictable operating costs, reinforcing the value of our integrated customer offering.

During the quarter, we continued to strengthen our contracted services offering through the expansion of Services 360 in Europe, now including battery-electric vehicles and rolling fleets. Our financial services business also performed well during the quarter, continuing to support customers with flexible financing solutions and more than a third of new trucks sold are financed through Scania’s financial services. Together, our vehicles, services and financing solutions form an integrated customer offering that helps maximise uptime, improve operational efficiency and support the transition to sustainable transport.

Higher truck volumes, together with the continued strength of our services business, increased Scania's revenue during the quarter. Profitability improved, supported by higher truck volumes, a favourable product mix and a continued growth of our services business. These factors more than offset increased R&D investments and the expenses related to the ramp-up of our Chinese production site.

I am encouraged by how the organisation continued to challenge our cost base and improve efficiency across the business. We improved production overhead, product costs and administrative expenses. This was achieved despite continued inflationary pressure on material and energy costs. Together, these efforts show that our ongoing efficiency initiatives are translating into tangible bottom-line improvements, creating room for vital strategic investments.

Supporting the shift to electrified transport is one of Scania's highest strategic priorities. To accelerate the shift, it’s crucial that we continue to strengthen our battery-electric offering and the industrial capabilities needed to support it – and we achieved both during the quarter. Although battery-electric demand remains at relatively low levels, I was encouraged to see activity increasing across Europe, supported by customer interest and public incentives.

Today, Scania offers one of the industry's broadest battery-electric portfolios, complemented by comprehensive depot and destination charging solutions, digital services and financial solutions. Just one example is Scania's Megawatt Charging System, a technology that rapidly decreases charging time for heavy vehicles. During the quarter, the system became available for customers to order for the first time, alongside a new under-cab battery module that extends vehicle range without compromising payload. Together, these developments enable us to support more transport applications, larger fleet transitions and a broader range of customer needs than ever before.

Our strong offering is already translating into larger customer commitments. During the quarter, we entered into a landmark agreement with Nordic chemical logistics company Wibax to deliver 105 battery-electric trucks together with fleet optimisation services, one of the largest electric truck orders in the EU to date. It is an encouraging sign that parts of the market are moving beyond pilot projects towards larger-scale fleet electrification.

Supporting the electric transition also requires continued investment in our industrial system. During the quarter, we announced a major investment in our production site in Angers, France, significantly expanding our battery-electric production capacity in Europe. This investment will ensure we are ready to increase production as demand grows while strengthening the resilience and flexibility of Scania's global industrial system. Together with our production footprint in Latin America and China, it enables us to remain close to customers in our key markets.

We are continuing to invest with confidence because we believe electrification is the future of transport. At the same time, achieving the pace of transition that customers and society expect will require the right enabling conditions. Continued expansion of charging infrastructure, predictable long-term regulatory frameworks and policies that support investment in zero-emission transport remain essential to accelerate the shift. Only by working together across industry and society, we can unlock the full potential of sustainable transport.

Scania's transport solutions also contribute to building a more resilient society. Throughout our history, we have played an important role in supporting essential societal functions, and I am proud that we continue to do so today.

During the quarter, we unveiled two products designed for defence logistics: a Protected Cab solution providing blast and ballistic protection, and a 4x4 hybrid-electric truck that is now being evaluated by the Swedish Armed Forces.

As with our commercial customers, our partnerships with defence and emergency services extend well beyond delivering vehicles. Through comprehensive service agreements, we provide the long-term support needed to ensure operational readiness whenever it matters most.

The second quarter demonstrated Scania's ability to deliver strong operational and financial performance despite continued uncertainty. Our efficiency improvements gave us more room to make crucial strategic investments, further strengthening our resilience. And throughout, we stayed relentlessly focused on creating real value for customers. All of this gives me confidence we are on the right path, as we continue to lead the shift towards a more sustainable transport system.