Scania contests the European Commission’s view, but still makes provision

As previously communicated, Scania, along with a number of other truck manufacturers has been investigated by the European Commission concerning inappropriate exchange of information during the period 1997-2011.

In light of the European Commission’s Statement of Objections and recent developments in the investigation, Scania is now, in accordance with relevant accounting principles and a prudent approach, making a provision in order to cover possible fines.

Scania has fully cooperated with the European Commission during the investigation. However, Scania contests the Commission’s view that the company has entered into a pan-European agreement with other manufacturers with regard to pricing.

Also, the company has not delayed the introduction of new engines compliant with EU-legislation for exhaust emissions.

The company will fully exercise its rights of defence in the ongoing investigation.

The provision of SEK 3.8 billion will have an impact on operating income in the second quarter of 2016. Scania will publish its Interim Report for the period January-June 2016 on 28 July 2016.

For further information, please contact Hans-Åke Danielsson, Press Manager, tel. +46 8 553 856 62.

Scania is a part of Volkswagen Truck & Bus GmbH and one of the world’s leading manufacturers of trucks and buses for heavy transport applications. Scania is also leading provider of industrial and marine engines. Service-related products account for a growing proportion of the company’s operations, assuring Scania customers of cost-effective transport solutions and maximum uptime. Scania also offers financial services. Employing some 44,000 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2015, net sales totalled SEK 95 billion and net income amounted to SEK 6.8 billion. Scania press releases are available on www.scania.com  

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Scania is a world-leading provider of transport solutions. Together with our partners and customers we are driving the shift towards a sustainable transport system. In 2017, we delivered 82,500 trucks, 8,300 buses as well as 8,500 industrial and marine engines to our customers. Net sales totalled nearly SEK 120 billion, of which about 20 percent were services-related. Founded in 1891, Scania now operates in more than 100 countries and employs some 49,300 people. Research and development are concentrated in Sweden, with branches in Brazil and India. Production takes place in Europe, Latin America and Asia, with regional production centres in Africa, Asia and Eurasia. Scania is part of Volkswagen Truck & Bus GmbH. For more information visit: www.scania.com.