1 Interim Report January –March 2005 Leif Östling President and CEO.
19
1 Interim Report Interim Report January –March 2005 January –March 2005 Leif Östling Leif Östling President and CEO President and CEO
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Transcript of 1 Interim Report January –March 2005 Leif Östling President and CEO.
1
Interim ReportInterim ReportJanuary –March 2005January –March 2005
Leif ÖstlingLeif ÖstlingPresident and CEOPresident and CEO
2
Key figures First quarter 2005
Order bookings 15,441 vehicles -1%
Deliveries 13,256 vehicles +7%
Revenue SEK 13,873 m. +6%
Operating margin 12.1% (11.2%)
Net income SEK 1,155 m. +19%
Earnings per share SEK 5.78 (4.87)
3
Total order bookings Trucks and bus chassis
2001 2002 2003 2004 2005
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
Units
4
Market developmentsEurope - trucks
Continued good developments in the Nordic countries
Weaker development in Germany, the Netherlands and Great Britain
Current year an off year for western European growth
Western Europe Central and eastern Europe
Increased deliveries
Decreased order bookings especially in Poland
Continued exports of used vehicles to central and eastern Europe
5
Market developments Other markets - trucks
Latin America Increased order
bookings
Continued strong market
Africa, Asia and Oceania
Lower order bookings, mainly in Turkey and South Korea
6
Increased demand
Good growth in Brazil, Sweden and Great Britain
Order bookings rose by 48%
Deliveries increased by 20%
Buses and coaches
7
RegistrationsHeavy trucks, western Europe
0
50,000
100,000
150,000
200,000
250,000
300,000
1974 1979 1984 1989 1994 1999 2004
Registrations
8
Interim ReportInterim ReportJanuary – March 2005January – March 2005
Jan GuranderJan GuranderGroup Vice President and CFOGroup Vice President and CFO
9
Key figuresFirst quarter 2005
Deliveries 13,256 vehicles +7%
Revenue SEK 13,873 m. +6%
Operating income SEK 1,679 m. +15%
Operating margin 12.1% (11.2%)
Net income SEK 1,155 m. +19%
Return on equity 21.4% (17.9%)
Return on capital employed 29.0% (23.1%)
10
Scania in brief First quarter 2005
Used vehiclesetc. 12%
Buses 8%
Trucks 58%
Revenue by product areaDeliveries by market
Africa, Asia and Oceania 14%
Central and easternEurope 10%
South America 16%
Western Europe 60%
Engines 1%
Service-related products 21%
11
Revenue by marketJanuary-March
Amounts in SEK m. 2005 2004 Change in %
Great Britain 1,813 2,002 -9
Brazil 981 799 23
Germany 957 882 9
Sweden 891 831 7
France 827 877 -6
Italy 807 776 4
Finland 738 583 27
The Netherlands 719 651 10
Spain 698 814 -14
Norway 587 457 28
12
Operating incomeScania Group
Note: Excluding divested car operations
0
500
1,000
1,500
2,000
2,500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q10
2
4
6
8
10
12
14
16
2001 2002 2003 2004 2005
SEK m. Operating margin, %
13
Operating incomeVehicles and Service
SEK 1,553 m.SEK 1,362 m.
Q1 2005
Q1 2004
New truck range
Higher volume
Service business
Increased material cost
R&D expenditures
14
Operating incomeCustomer Finance
SEK 126 m.
SEK 103 m.
Q1 2005
Q1 2004
Interest margin
Lower credit losses
Operating expenses
15
Size of portfolioCustomer Finance
0
5,000
10,000
15,000
20,000
25,000
30,000
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 Q12005
SEK m.
16
Cash flowVehicles and Service
Note: Excluding acquisitions/divestments and Customer Finance
2001 2002 2003 2004 2005
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
SEK m.
17
Net debtVehicles and Service
Note: Excluding Customer Finance
0
2,000
4,000
6,000
8,000
10,000
2001 2002 2003 2004 2005
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
SEK m.
18
Conclusions
Demand for heavy trucks subdued in western Europe
Increased demand for buses and coaches
Service business and Customer Finance - continued good development
Continued replacement need over the next few years
Changeover in Europe completed
Scania completed its offer on Ainax
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