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Scania makes a provision for Russia

Scania makes a provision for Russia in connection with the disposal of Sales and Service operations and Financial Services in Russia

Scania makes a provision for Russia in connection with the disposal of Sales and Service operations and Financial Services in Russia.

Scania has invested and developed a business in Russia for several decades and has a great responsibility for relationships with customers and, above all, for employees.

After Russia invaded Ukraine, the export restrictions and sanctions have changed the general business situation in Russia. Already in March, Scania decided to stop deliveries of both trucks and parts to Russia and halted the production in St Petersburg.

Scania Group had per 1 of September, 2022 total assets of approximately BSEK 11 related to Russia. In 2021, approximately 6% of the Group’s net sales were attributable to Russia.

Following TRATON SE’s AdHoc announcement per today, Scania Group has, per 13 of September 2022, made a provision for Russia amounting to around BSEK 5. This will have a negative impact on the Q3 2022 result.

SOURCE: Scania

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