scania interim presentation january-june 2013
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Scania interim presentation january june 2013. For the full Interim Report, visit http://bit.ly/17prIZvTRANSCRIPT
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Interim Report, January–June 2013 Erik Ljungberg, Corporate Relations
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Business overview Martin Lundstedt, President and CEO
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First six months of 2013
Improved truck order bookings in Europe
Truck order bookings in Latin America at a high level
Higher production rate
Service revenue stable
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Europe Scania trucks, order bookings
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Higher market share – strong position in Euro 6
Replacement need
Pre-buy of Euro 5
Focus on short lead times
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Full Euro 6 range
Proven record – first trucks launched in 2011
Second generation with better fuel efficiency launched in 2013
World’s first Euro 6 gas truck delivered
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Latin America Scania trucks, order bookings
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Order bookings at a high level
Subsidies in Brazil and Argentina
Higher market share in Brazil
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Eurasia Scania trucks, order bookings
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Good level of demand in Russia
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Asia Scania trucks, order bookings
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Stable demand
Middle East uncertain
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Buses and coaches Scania buses and coaches, order bookings
Large orders in Russia, Malaysia and Taiwan in first six months
Europe at low level
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Engines Scania engines, order bookings
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Main improvement in Latin America in Q2
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Higher production rate
Higher production rate during Europe Q3 and Q4
Focus on short lead times
Ensure flexibility
Increase technical capacity to 120,000 vehicles
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Service revenue stable
Investment in capacity
Focus on solution sales
Service revenue
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Summary
Improved order bookings in Q2 in Europe
Higher market share in Europe and Latin America
Higher production rate in second half of 2013
High R&D activity and increase of sales and service capacity
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Interim Report, January–June 2013 Jan Ytterberg, CFO
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First six months of 2013 – highlights
Impact from stronger SEK and weaker BRL
Higher vehicle volume
Improved capacity utilisation in Latin America
High level of investments
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Volume trend Total deliveries, trucks and buses
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Higher volumes in Europe and Latin America
Lower deliveries in Asia
Very high production rate in Latin America in Q2
Higher production rate in the second half in Europe
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Increased revenue in local currency in several regions
Southern Europe weak
Service revenue
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Earnings trend Operating income, Scania Group
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Net sales up 7% in H1 and up 19% in Q2 2013
EBIT margin 9.4% (10.8) in H1 and 8.9% (10.1) in Q2
Earnings per share SEK 3.47 (4.06) in H1 and SEK 1.72 (1.82) in Q2
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Operating income Vehicles and Services
EBIT decrease:
SEK 275 m., H1 2013
+ Volume
+ Capacity
utilisation
– Currency
– Prices
EBIT decrease due to: – Currency rate effects – Prices
Positive effects: – Vehicle volume – Capacity utilisation
in Latin America
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Cash flow Vehicles and Services
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High level of investments
Cash flow SEK 740 m. in Q2
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Net debt Vehicles and Services
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Net cash SEK 6,403 m. (Net cash SEK 9,361 m. at end of 2012)
Dividend payment SEK 3.8 bn. in Q2
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Volume trend Credit portfolio, Financial Services
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Portfolio +3% in local currencies since end of 2012
Operating income SEK 302 m. (313) in H1 2013
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Significant impact from stronger SEK on earnings
Higher vehicle deliveries
Higher production rate in the second half
High level of investments
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Summary
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