Scania Interim Report: January-March 2023
02 MAY 2023
A strong performance has been achieved in the first quarter despite continuing macroeconomic and geopolitical uncertainty. Transport activity remained high in general, as did demand.
Summary of the first quarter of 2023
- Scania’s net sales grew by 42 percent to SEK 45.8 billion (32.2)
- Operating margin was 13.5 percent (7.5)
- Cash flow amounted to SEK 4.9 billion (-1.2) in Vehicles and Services
- Vehicle deliveries increased by 36 percent to 22,626
- Deliveries of Zero Emission Vehicles (ZEV) increased by over 300 percent from low levels to 74 (24)
Overall global truck demand remains at a high level in Scania’s key markets, with the exception of Latin America where the weakening economy is affecting demand. For Scania’s buses and coaches, demand is gradually coming back from low levels after being hit hard by the pandemic. Order intake for Power Solutions is at an all-time high, driven by the strong momentum among OEMs. The high activity levels in the quarter were reflected in the service sales, which grew by 15 percent adjusted for currency.
“Despite continuing macroeconomic and geopolitical uncertainty, transport activity remained high, as did demand for our products. Our efforts to stabilise the production system have paid off, and I am proud to see Scania’s volumes to our customers are increasing in the first quarter. The higher volumes and improved capacity utilisation in production impacted operating income positively”, CEO Christian Levin comments.
Read the full report here.