Scania’s earnings for the full year 2013 amounted to SEK 8,455 m. Both vehicle and service volume reached record levels, which was offset by the stronger krona and a competitive pricing environment.
Summary of the full year 2013
- Operating income rose to SEK 8,455 m. (8,300), and earnings per share fell to SEK 7.75 (8.31)
- Net sales rose by 9 percent to SEK 86,847 m. (79,603)
- Cash flow amounted to SEK 3,231 m. (3,025) in Vehicles and Services
- The Board of Directors proposes a dividend of SEK 4.00 (4.75) per share.
Comments by Martin Lundstedt, President and CEO:
“Scania’s earnings for the full year 2013 amounted to SEK 8,455 m. Both vehicle and service volume reached record levels, which was offset by the stronger krona and a competitive pricing environment. Scania increased its market shares, both in Europe and in Latin America. Order bookings for trucks in Europe fell during the fourth quarter as a result of pre-buys of Euro 5 vehicles during the third quarter. Scania has a strong position in the European market in Euro 6. Order bookings in Latin America remained at a good level during the fourth quarter. In Russia, order bookings weakened. Order bookings for buses and coaches rose compared to the previous quarter, attributable to Europe and Latin America. In Engines, order bookings were supported by investments ahead of the transition to the new emission standard in 2014. Scania is continuing its long-term efforts to boost market share in Services and volume reached a record level during 2013. During the first quarter of 2014, production volume of vehicles will be adjusted to the lower order bookings. Among other things, the number of personnel on hire will be reduced by about 300. Pre-buys in Europe during 2013 will impact the first half of 2014 while Scania’s assessment is that economic activity in Europe has stabilised and that there is a replacement need. There are good growth opportunities in the longer term and the expansion of annual technical production capacity towards 120,000 vehicles is continuing. To strengthen competitiveness, the level of activity related to development projects remains high, at the same time as Scania is expanding its sales and service capacity in emerging markets.”
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