Scania interim report January - June 2000

SCANIA INTERIM REPORT JANUARY- JUNE 2000 RESULTS First half of 2000, compared to first half of 1999 Number of trucks and buses sold: 27,647 (24,869), an increase of 11 percent. 1 Sales of service-related products rose by 15 percent . * Sales: SEK 26,368 m. (23,419) [USD 2,992 m. (2,657)] , an increase of 13 1 percent . Operating income: SEK 2,156 m. (2,503) [USD 244 m. (284)]. Operating margin: 8.2 (10.7) percent. Operating income in customer finance operations rose to SEK 80 m. (69) [USD 9 m. (8)]. Income after financial items: SEK 1,846 m. (2,240) [USD 210 m. (254)]. Net income: SEK 1,277 m. (1,554) [USD 146 m. (176)]. Earnings per share: SEK 6.40 (7.75) [USD 0.73 (0.88)]. Operating cash flows, excluding acquisitions of companies: SEK 1,474 m. (707) [USD 168 m. (80)]. Second quarter of 2000, compared to second quarter of 1999 Number of trucks and buses sold: 14,641 (11,959). Sales: SEK 13,693 m. (11,640) [USD 1,554 m. (1,320)]. Operating income: SEK 1,051 m. (1,263) [USD 120 m. (143)], equivalent to a margin of 7.7 (10.9) percent. Operating cash flows: SEK 993 m. (851) [USD 112 m. (97)]. MARKET First half of 2000, compared to first half of 1999 Order bookings for heavy trucks in western European markets rose by 18 percent. Scania's market share for heavy trucks in western Europe rose to 15.8 (14.9) percent. In Latin America, heavy truck deliveries declined marginally, while order bookings increased. Scania's market share in Brazil amounted to 28.6 (32.4) percent. Second quarter of 2000, compared to second quarter of 1999 Order bookings for heavy trucks in western European markets rose by 12 percent. Order bookings from markets in Asia and in central and eastern Europe were very strong. In Latin America, order bookings for heavy trucks rose by more than 10 percent. The demand for buses and coaches in Latin America was strong, and order bookings rose sharply from a low level. OUTLOOK "Based on a good market development for Scania products, our ambition is to continue with double digit margin" concludes Leif Östling, Scania's President and CEO. 1 Including the acquired distributors in Finland, Norway and Latvia. * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. Unless otherwise stated, all comparisons refer to the same period of last year. This report is also available at www.scania.com SCANIA INTERIM REPORT, JANUARY - JUNE 2000 Operating income for the first six months of 2000 reached SEK 2,156 m., despite continued keen price competition in western European markets and a substantially stronger Swedish krona in relation to the euro. Operating 2 income in European operations amounted to SEK 2,136 m., including currency effects of more than SEK -200 m. Increased investments in new products boosted research and development expenses by more than SEK 100 m. Underlying operating income in Latin American operations improved by more than SEK 250 m., mainly as a consequence of the cost-cutting measures that Scania has implemented. Volvo's planned buyout of Scania, which was interrupted by the European Union's rejection of the deal in March, led to revenue shortfalls in Europe for Scania Buses & Coaches as well as Scania Industrial & Marine Engines. In some European markets, truck prices were also adversely affected, among other things due to substantial uncertainty among dealers regarding the future distribution structure and management of the Scania brand. These effects on revenue are expected to diminish gradually during the second half of 2000. Certain additional costs directly connected to the planned buyout were charged to earnings during the first half. The truck market in western Europe remained strong. Scania's truck order bookings in the region rose by 18 percent during the first half of 2000, compared to the same period of 1999. In central and eastern Europe, demand continued to strengthen. Markets in Asia also improved. Scania increased its market share for heavy trucks in western Europe to 15.8 (14.9) percent. During the first half of 2000, about 20,700 (18,500) Scania trucks were registered in western Europe. Total heavy truck registrations in the region amounted to some 131,000 (124,000) units, an increase of 6 percent. Recalculated to a rolling twelve-month basis, this is equivalent to an annual rate of around 240,000 trucks. In Latin America, Scania's truck order bookings rose by 3 percent during the first half and 13 percent during the second quarter. The total market in Brazil during the first half was 16 percent larger than last year, and projections of macroeconomic trends during the rest of 2000 are favourable. Scania's market share in Brazil rose, compared to the first quarter, amounting to 28.6 percent during the first six months of the year. In Argentina, market share rose to 28.8 (27.1) percent. The total number of Scania trucks sold rose by 11 percent. In European operations, the number of trucks sold increased by 13 percent. Scania's order bookings for buses and coaches rose by 4 percent in European operations and by 64 percent in Latin America. Total order booking rose by 23 percent and amounted to 2,194 (1,777) buses. The total number of buses sold increased by 12 percent, reaching 2,036 (1,817). The sharp sales increase in Latin America offset a downturn in Europe. 2 European operations are the portion of Scania's operations that, in principal, supply all markets except Latin American ones with the company's products, services and financing. The number of industrial and marine engines sold rose by 9 percent during the first half of 2000. Sales of service-related products during the first half of 2000 rose by 15 percent. The customer finance portfolio increased during the first half by about SEK 1 bn., compared to the end of 1999, and amounted to SEK 16 bn. During the second quarter, Scania launched a new 16-litre V8 engine, environmentally adapted to fulfil the EU's Euro 3 emission standards. The new engine, part of Scania's modularised engine range, uses the same combustion chamber as today's 11- and 12-litre engines. This is the most important product launch to date since the introduction of the 4-series. It will further strengthen Scania's leading position in the high-output segment for trucks. Also announced during the second quarter were a number of new market investments, including Scania-owned distributors in Malaysia and Thailand and a bus assembly plant in St. Petersburg to supply the Russian market. SALES AND EARNINGS During the first half, the Scania Group sold 27,647 (24,869) trucks and buses, an increase of 11 percent. In monetary terms, the Scania Group's sales rose by 13 percent to SEK 26,368 m. (23,419) (6 percent excluding acquired companies). Sales of Scania products rose by 11 percent. Operating income amounted to SEK 2,156 m. (2,503), equivalent to an operating margin of 8.2 (10.7) percent. In European operations, unit sales of trucks and buses increased by 12 percent. In monetary terms, sales rose by 11 percent. Operating income amounted to SEK 2,136 m. (2,556). Earnings reflected more than SEK 200 m. in adverse currency effects as well as an increase of more than SEK 100 m. in research and development expenses. Besides currency effects, pricing pressure and trucks with lower specification levels reduced average revenue per vehicle. To some extent, the reduction was offset by improved productivity. In all, this had an impact on earnings of about SEK -300 m. Earnings of Buses & Coaches and Marine & Industrial Engines operations declined by around SEK 100 m. as a consequence of low order bookings, a low rate of production and uncertainty during the first quarter concerning Scania's ownership structure. The operating margin in European operations amounted to 10.2 (13.5) percent. During the second quarter of 2000, two items affecting comparability were included in earnings. Surplus pension-related funds allocated to Scania by the retirement insurance company SPP boosted earnings by more than SEK 100 m. This was offset by expenses related to Volvo's planned buy-out of Scania. In Latin American operations, unit sales of trucks and buses rose by 5 percent to 3,816 (3,633). Operating income including items affecting comparability amounted to SEK -183 m. (-254). During the first half, earnings were adversely affected by SEK 80 m. in costs for implementation of staffing reductions. During the first half of 1999, operating income was boosted by SEK 110 m. in translation effects, due to the Brazilian currency devaluation. At a comparable level, underlying earnings thus improved by SEK 261 m., due to improved prices and a lower cost level. [REMOVED GRAPHICS] Operating income in European customer finance operations rose to SEK 80 m. (69). 3 Operating income in passenger car operations amounted to SEK 123 m. (132). Net financial items totalled SEK -310 m. (-263). In European operations, net financial items improved, compared to the first half of 1999. In Latin America, net financial items deteriorated due to negative cash flows and high local interest rates. The Scania Group's tax expenses were equivalent to 30.7 (30.6) percent of income after financial items. CASH FLOWS Scania's operating cash flows, excluding customer finance operations, improved during the first half to SEK 1,454 m. (21). Excluding acquired companies, cash flows amounted to SEK 1,474 m. (707). Cash from operating activities amounted to SEK 2,377 m. (2,758). Tied-up working capital rose by SEK 145 m. A positive effect in European operations was offset by increased tied-up working capital in Latin America. Net investments reached SEK 778 m. (1,645). Excluding acquisitions, net investments amounted to SEK 758 m. (959). During the second quarter of 2000, operating cash flows amounted to SEK 986 m. (825). Among the factors behind this improvement were lower working capital as well as lower investments. 3 Passenger car operations include half of the importer operations of the Svenska Volkswagen Group in Sweden, the wholly-owned Swedish car dealership network Din Bil and a car dealership network in Finland which is part of the recently acquired Finnish distributor Oy Scan-Auto Ab. Number of employees The number of employees totalled 26,078 at the end of the report period. This represented an increase of 264 persons since the beginning of the year. In principle, the increase was attributable to marketing companies in Europe as well as the Swedish car operation. As a consequence of staffing reduction programmes, the number of employees in Latin American operations declined by 217. Parent Company The assets of the Parent Company of the Scania Group, Scania AB, consist of shares in the subsidiary Scania CV AB and shares in the Latin American subsidiaries. Scania CV AB is the parent company of the Group's European operations, comprising European production and marketing companies as well as other companies outside Latin America. The income of Scania AB after financial items amounted to SEK 10 m. (23). Södertälje, 1 August 2000 Leif Östling President and CEO This Interim Report has not been subject to special review by the company's auditors. The next Interim Report will be published on 30 October 2000. This report contains forward-looking statements that reflect management's current views with respect to certain future events and potential financial performance. Such forward-looking statements involve risks and uncertainties that could significantly affect potential results. These statements are based on certain assumptions, including assumptions related to general economic and financial conditions in the company's markets and the level of demand for the company's products. This report does not imply that the company has undertaken to revise these forward-looking statements, beyond what is required under the company's registration contract with the Stockholm Stock Exchange, if and when circumstances arise that will lead to changes compared to the date when these statements were provided. Magnus Hahn, Corporate Tel. +46-8 5538 3510, mobile tel. +46-70 Communications 551 79 03 Oscar Stjerngren, Investor Relations Tel. +46-8 5538 3657, mobile tel. +46-70 598 36 58 Ulf Söderström, Corporate Tel. +46-8 5538 1044, mobile tel. +46-70 Communications 680 95 95 EARNINGS BY AREA OF OPERATIONS Amounts in SEK m. unless First half Change July 99 - * otherwise stated USD m. 2000 1999 in % 1999 June 00 Number of trucks and buses sold European operations 23,831 21,236 12 42,919 45,514 Latin American operations 3,816 3,633 5 7,495 7,678 Total Scania vehicles 27,647 24,869 11 50,414 53,192 sold Sales European operations 2,381 20,983 18,932 11 38,107 40,158 Latin American operations 288 2,541 2,101 21 4,560 5,000 Less intra-Group sales -82 -722 -432 67 -1,042 -1,332 Total Scania products 2,587 22,802 20,601 11 41,625 43,826 4 5 Passenger car operations 405 3,566 2,818 27 5,485 6,233 Scania Group total 2,992 26,368 23,419 13 47,110 50,059 Operating income European operations 242 2,136 2,556 -16 4,980 4,560 Latin American operations -21 -183 -254 28 -328 -257 Customer finance 9 80 69 16 140 151 operations Total Scania products 230 2,033 2,371 -14 4,792 4,454 Passenger car operations 14 123 132 -7 253 244 Scania Group total 244 2,156 2,503 -14 5,045 4,698 Operating margin in percent European operations 10.2 13.5 13.1 11.4 Latin American operations -7.2 -12.1 -7.2 -5.1 Total Scania products 8.9 11.5 11.5 10.2 Passenger car operations 3.5 4.7 4.6 3.9 Scania Group total 8.2 10.7 10.7 9.4 SALES BY PRODUCT CATEGORY Amounts in SEK m. unless First half Change July 99 - * otherwise stated USD m. 2000 1999 in % 1999 June 00 Trucks 1,709 15,061 13,837 9 27,888 29,112 Buses 203 1,792 1,743 3 3,601 3,650 Engines 25 217 200 9 444 461 Service-related products 449 3,955 3,438 15 6,927 7,444 Used vehicles etc. 202 1,777 1,383 28 2,765 3,159 Total Scania products 2,588 22,802 20,601 11 41,625 43,826 Passenger cars 404 3,566 2,818 27 5,485 6,233 Total 2,992 26,368 23,419 13 47,110 50,059 * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. 4 Passenger car operations include half of the importer operations of the Svenska Volkswagen Group in Sweden, the wholly-owned Swedish car dealership network Din Bil and a car dealership network in Finland which is part of the recently acquired Finnish distributor Oy Scan-Auto Ab. 5 Of which Svenska Volkswagen products SEK 2,957 m. (2,765). INCOME STATEMENT Amounts in SEK m. unless First half Change July 99 - * otherwise stated USD m. 2000 1999 in % 1999 June 00 6 Sales 2,992 26,368 23,419 13 47,110 50,059 Cost of goods sold -2,252-19,847 -17,240 -34,351 -36,958 6 Gross income 740 6,521 6,179 6 12,759 13,101 Research and development -91 -798 -662 -1,267 -1,403 expenses 6, 7 Selling expenses -381 -3,367 -2,836 -6,047 -6,578 8 Administrative expenses -49 -432 -408 -866 -890 Income from customer finance 9 80 69 140 151 operations Share of income of associated 17 152 161 326 317 companies 9 Operating income 245 2,156 2,503 -14 5,045 4,698 Financial income and -35 -310 -263 -545 -592 expenses Income after financial 210 1,846 2,240 -18 4,500 4,106 items Taxes -64 -567 -685 -1,353 -1,235 Minority interests 0 -2 -1 -1 -2 Net income 146 1,277 1,554 -18 3,146 2,869 Number of shares: 200 million Operating margin, percent 8.2 10.7 10.7 9.4 Return on equity, percent 21.8 23.8 25.1 21.8 Return on capital employed, excluding 18.7 20.1 21.4 18.7 customer finance operations, percent Return on capital 12.8 14.2 14.8 12.8 employed, percent Earnings per share, SEK 0.73 6.40 7.75 15.75 14.35 Earnings per share according to 0.70 6.20 8.50 16.40 15.60 U.S. GAAP, SEK 9 Includes depreciation of -112 -990 -1,005 -1,948 -1,933 6 Acquired businesses impacted sales by SEK 1,441 m., gross income by SEK 396 m., selling expenses by SEK -368 m. and income in associated companies by SEK -12 m. 7 Selling expenses: Defined as the costs of corporate marketing resources, plus all overhead in marketing companies, including goodwill and warranty payments. Comparative periods have been adjusted for the fact that parts distribution costs were previously included but are now reported under "Cost of goods sold". 8 Administrative expenses: Defined as Group-wide costs for management and for the staff units in European and Latin American operations. * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. EARNINGS BY QUARTER 2000 1999 Amounts in SEK m. Q 2 Q 2 Q 1 Full Q 4 Q 3 Q 2 Q 1 unless USD m. * year otherwise stated Sales European operations 1,228 10,818 10,165 38,107 10,639 8,536 9,189 9,743 Latin American 161 1,421 1,120 4,560 1,266 1,193 1,139 962 operations Less intra-Group -47 -417 -305 -1,042 -318 -292 -249 -183 sales Total Scania products 1,342 11,822 10,980 41,625 11,587 9,437 10,079 10,522 Passenger car 212 1,871 1,695 5,485 1,457 1,210 1,561 1,257 operations Scania Group total 1,554 13,693 12,675 47,110 13,044 10,647 11,640 11,779 Operating income European operations 114 1,003 1,133 4,980 1,303 1,122 1,313 1,243 Latin American -7 -61 -122 -328 -6 -68 -158 -96 operations Customer finance 5 42 38 140 39 32 39 30 operations Total Scania products 112 984 1,049 4,792 1,336 1,086 1,194 1,177 Passenger car 8 67 56 253 67 53 69 63 operations Scania Group total 120 1,051 1,105 5,045 1,403 1,139 1,263 1,240 Income after 101 891 955 4,500 1,276 984 1,130 1,110 financial items Net income 70 616 661 3,146 883 709 784 770 Earnings per share, 0.35 3.10 3.30 15.75 4.40 3.55 3.90 3.85 SEK Operating margin, percent European operations 9.3 11.1 13.1 12.2 13.1 14.3 12.8 Latin American -4.3 -10.9 -7.2 -0.5 -5.7 -13.9 -10.0 operations Total Scania products 8.3 9.6 11.5 11.5 11.5 11.8 11.2 Passenger car 3.6 3.3 4.6 4.6 4.4 4.5 4.9 operations Scania Group total 7.7 8.7 10.7 10.8 10.7 10.9 10.5 * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. UNITS BY QUARTER 2000 1999 Q 2 Q 1 Full Q 4 Q 3 Q 2 Q 1 year ORDER BOOKINGS, TRUCKS - Western Europe 9,888 10,222 36,194 11,036 8,065 8,842 8,251 - Central and eastern 736 462 1,783 538 396 465 384 Europe - Latin America 1,703 1,463 6,122 1,715 1,348 1,509 1,550 - Asia 941 695 1,548 434 462 335 317 - Other markets 253 360 1,030 299 161 355 215 Total 13,521 13,202 46,677 14,022 10,432 11,506 10,717 TRUCKS SOLD - Western Europe 9,997 9,625 36,106 10,389 7,821 8,448 9,448 - Central and eastern 535 349 1,551 563 330 363 295 Europe - Latin America 1,709 1,313 6,253 1,593 1,523 1,549 1,588 - Asia 949 467 1,481 541 232 374 334 - Other markets 367 300 1,260 290 317 305 348 Total 13,557 12,054 46,651 13,376 10,223 11,039 12,013 ORDER BOOKINGS, BUSES - Europe 381 411 1,704 531 367 360 446 - Latin America 573 378 1,219 300 340 397 182 - Other markets 228 223 628 163 73 195 197 Total 1,182 1,012 3,551 994 780 952 825 BUSES SOLD - Europe 451 446 2,002 450 441 551 560 - Latin America 421 368 1,237 381 365 255 236 - Other markets 212 138 524 158 151 114 101 Total 1,084 952 3,763 989 957 920 897 Sales of industrial and marine engines totalled 1,600 (1,471) units during the first half of 2000. BALANCE SHEET WITH CUSTOMER FINANCE OPERATIONS REPORTED ACCORDING TO THE EQUITY ACCOUNTING METHOD 30 June Amounts in SEK m. unless 2000 30 31 March 31 Dec 30 Sept 30 June June * otherwise stated USD m. 2000 2000 1999 1999 1999 ASSETS Intangible fixed assets 61 534 550 555 417 404 Tangible fixed assets 1,570 13,836 13,868 13,975 13,659 13,841 Shares and participations 302 2,657 2,663 2,616 2,421 2,262 Inventories 881 7,768 7,852 7,279 6,945 7,217 Other receivables 1,202 10,589 10,190 10,477 9,318 8,406 Interest-bearing 160 1,406 1,393 1,361 1,153 1,405 receivables Liquid investments 488 4,304 1,794 2,543 3,637 3,865 Total assets 4,664 41,094 38,310 38,806 37,550 37,400 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 1,524 13,430 14,179 13,548 12,605 12,009 Provisions for pensions 214 1,886 1,874 1,839 1,835 1,839 Other provisions 413 3,641 3,622 3,623 3,361 3,309 Other liabilities 1,104 9,726 9,134 9,021 8,741 8,295 Borrowings 1,408 12,411 9,501 10,775 11,008 11,948 Total shareholders' equity 4,663 41,094 38,310 38,806 37,550 37,400 and liabilities Net indebtedness, excluding pension 920 8,107 7,707 8,232 7,371 8,083 liabilities Net indebtedness as ratio of 0.60 0.60 0.54 0.61 0.58 0.67 shareholders' equity (debt/equity ratio) Equity per share, SEK 7.62 67.15 70.80 67.75 63.05 60.05 Reporting of deferred gains on sales with guaranteed residual values in operating leases has been changed in the above balance sheet from being subtracted from "Tangible fixed assets" to being part of "Other liabilities". The comparative periods have been changed accordingly. In the balance sheet including customer finance operations, this deferred gain is still subtracted from operational leases that are part of "Tangible fixed assets". * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. BALANCE SHEET CUSTOMER FINANCE OPERATIONS 30 June Amounts in SEK m. unless 200030 June31 March 31 Dec 30 Sept 30 June * otherwise stated USD m. 2000 2000 1999 1999 1999 ASSETS Leasing assets 735 6,480 6,399 6,164 5,325 4,917 Financial receivables 1,115 9,822 9,340 9,175 8,915 8,203 Other assets 72 632 356 668 449 422 Cash and bank balances 18 162 94 167 95 80 Total assets 1,940 17,096 16,189 16,174 14,784 13,622 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 145 1,280 1,251 1,229 1,008 880 Borrowings 1,612 14,205 13,703 13,612 12,543 11,649 Other liabilities and 183 1,611 1,235 1,333 1,233 1,093 provisions Total shareholders' equity 1,940 17,096 16,189 16,174 14,784 13,622 and liabilities BALANCE SHEET INCLUDING CUSTOMER FINANCE OPERATIONS 30 June Amounts in SEK m. unless 2000 3031 March 31 Dec 30 Sept 30 June June * otherwise stated USD m. 2000 2000 1999 1999 1999 ASSETS Intangible fixed assets 61 534 550 555 417 404 Tangible fixed assets 2,14218,880 18,908 18,860 17,776 17,634 Shares and participations 156 1,377 1,411 1,388 1,410 1,382 Inventories 906 7,981 7,959 7,437 7,126 7,382 Other receivables 1,21510,711 10,257 10,702 9,262 8,400 Interest-bearing 1,27411,228 10,733 10,537 10,069 9,608 receivables Liquid investments 507 4,466 1,888 2,710 3,733 3,946 Total assets 6,26155,177 51,706 52,189 49,793 48,756 SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity 1,52413,430 14,179 13,548 12,605 12,009 Provisions for pensions 214 1,889 1,877 1,842 1,838 1,841 Other provisions 476 4,198 4,175 4,159 3,817 3,768 Other liabilities 992 8,740 8,271 8,253 7,981 7,542 Borrowings 3,05526,920 23,204 24,387 23,552 23,596 Total shareholders' equity 6,26155,177 51,706 52,189 49,793 48,756 and liabilities Equity/assets ratio, % 24.3 27.4 26.0 25.3 24.6 * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. STATEMENT OF CASH FLOWS Amounts in SEK m. unless First half 2000 1999 otherwise stated USD 2000 1999 USD Q 2 Q 1 Q 2 * * m. m. Cash from operating 270 2,377 2,758 1401,2341,143 1,477 activities Change in working capital -16 -145 -1,092 15 135 -280 -148 etc. Cash flows from operating 254 2,232 1,666 1551,369 863 1,329 activities Net investments excluding acquired -86 -758 -959 -43 -376 -382 -478 companies Operating cash flows before acquisitions 168 1,474 707 112 993 481 851 of companies Net investments in acquired -2 -20 -686 -1 -7 -13 -26 companies Operating cash flows excluding 166 1,454 21 111 986 468 825 customer finance operations Expansion of customer finance -123 -1,082 -962 -89 -781 -301 -668 operations Change in net indebtedness including 43 372 -941 22 205 167 157 customer finance operations Change in indebtedness from financing 313 2,760 4,371 4273,759 -999 2,519 activities Dividend to shareholders -159 -1,400 -1,300 -159 - - 1,400 1,300 Net change in cash and short- term 197 1,732 2,130 2902,564 -832 1,376 investments Effect of exchange rate fluctuations on cash 3 24 42 2 14 10 25 and short-term investments Cash and short-term investments at 308 2,710 1,774 2141,8882,710 2,545 beginning of period Cash and short-term investments at 508 4,466 3,946 5064,4661,888 3,946 end of period * Translated solely for the convenience of the reader at an exchange rate of SEK 8.8125 = USD 1.00. NUMBER OF EMPLOYEES 30 31 31 Dec30 Sept 30 June March June 2000 2000 1999 1999 1999 Production companies etc. 13,412 13,365 13,346 13,314 13,215 Marketing companies 9,036 8,859 8,642 7,704 6,668 European operations 22,448 22,224 21,988 21,018 19,883 Latin American operations 3,443 3,503 3,660 3,620 3,625 Customer finance 187 179 166 162 150 operations Total number of employees 26,078 25,906 25,814 24,800 23,658 Scania's ten largest truck markets Registrations of Scania trucks during the first half Change 2000 1999 in percent Great Britain 3,467 2,554 36 France 2,943 2,678 10 Germany 2,927 2,928 0 Brazil 2,317 2,261 2 Spain 1,955 1,786 9 The 1,801 1,412 28 Netherlands Italy 1,730 1,405 23 Sweden 1,185 1,134 4 Belgium 954 1,039 -8 Austria 622 652 -5 Western Europe 20,672 18,547 11 Scania's market shares during the first half, percent 2000 1999 Great Britain 21.7 17.0 France 11.4 11.4 Germany 9.6 9.3 Brazil 28.6 32.4 Spain 14.3 15.3 The 23.6 19.5 Netherlands Italy 13.3 11.8 Sweden 51.3 47.5 Belgium 18.8 19.5 Austria 15.1 15.6 Western Europe 15.8 14.9 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/01/20000801BIT00370/bit0001.doc http://www.bit.se/bitonline/2000/08/01/20000801BIT00370/bit0002.pdf

About Us

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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