Scania Releases Year-End 2015 Financial Report

Scania has released its year-end report for the January to December 2015 financial year.

Summary of the full year 2015

• Operating income rose by 11% to SEK 9,641 m. (8,721)
• Net sales rose by 3% to record high SEK 94,897 (92,051)
• Cash flow amounted to SEK 4,376 m. (4,690) in Vehicles and Services

Henrik Henriksson, President and CEO, comments, “Scania’s net sales rose to a record level of SEK 95 billion and earnings for the full year 2015 increased to SEK 9,641 m. Higher vehicle volume in Europe, record high service volume, positive currency rate effects and record earnings from Financial Services were partly offset by lower vehicle volume in Latin America, Eurasia and Asia. Total order bookings for trucks decreased during the fourth quarter, compared to the previous year, due to lower demand in Latin America and Eurasia. In Europe, demand remained high during the fourth quarter. Scania’s position in the European market is strong with a market share of 16.5% compared to 15.1% in 2014, thanks to a leading Euro 6 range.

“The continued segment focus and a broad engine range for alternative fuels, also contributed. Demand in Brazil and Russia fell during the fourth quarter compared to the same period 2014 and the outlook remains uncertain. Demand in Asia fell compared to the fourth quarter 2014. Order bookings in Buses and Coaches rose compared to the fourth quarter of the previous year. In Engines, order bookings fell during the fourth quarter compared to the previous year, due to lower demand in Latin America and Asia. Engine deliveries reached an all-time high at 8,485 units in 2015. Scania is continuing its long-term efforts to boost its service business and revenue increased by 9% to a new record level of SEK 20.6 billion during 2015. Scania’s continuing investment in connected vehicles is an important enabler in supporting our customers with more efficient services to further enhance their profitability. Financial Services reported record earnings, with operating income of more than SEK 1 billion. Customer payment capacity is still good and credit losses remain at low levels.”