“Scania's earnings for the first nine months of 2012 amounted to SEK 6,135 m. Lower vehicle volume, lower capacity utilisation and a higher level of costs pulled down earnings. Order bookings for trucks during the third quarter of 2012 decreased compared to the previous quarter. In Europe, the first part of the third quarter is usually characterised by low activity. However, order bookings in September continued at the same low level in many markets, affected by lower economic activity and hesitancy among customers to invest in new vehicles. This is despite a growing replacement need in Europe, given the low truck deliveries in recent years. In Brazil, the market has been at a lower level compared to the previous year due to the transition to Euro 5 and a weaker economy. However, extensive subsidies had a positive effect on order bookings for trucks at the end of the quarter. In Russia, demand is at a good level. In Asia, order bookings were lower than the previous quarters, mainly attributable to a major order in China during the first half of 2012 and a downturn in the Middle East during the third quarter. The outlook in the Middle
East is uncertain."