Interim report january - march 1999
SCANIA INTERIM REPORT JANUARY - MARCH 1999 RESULTS IN BRIEF First quarter of 1999, compared to first quarter of 1998 The number of trucks and buses sold rose by 11 percent to 12,910 (11,669). * Sales rose by 13 percent to SEK 11,779 m. (10,423) [USD 1,419 m. (1,256)] . Operating income rose by 97 percent to SEK 1,240 m. (629) [USD 150 m. (76)], equivalent to a margin of 10.5 (6.0) percent. Latin American operations had an adverse effect on operating income: SEK -96 m. (-216) [USD -11 m. (-26)]. Operating income after financial items: SEK 1,110 m. (552) [USD 134 m. (67)]. Net income: SEK 770 m. (390) [USD 93 m. (47)]. Earnings per share: SEK 3.85 (1.95) [USD 0.47 (0.23)]. Earnings per share according to U.S. GAAP: SEK 4.15 (2.05) [USD 0.50 (0.25)]. THE MARKET IN BRIEF First quarter of 1999, compared to first quarter of 1998 Order bookings for heavy trucks in western European markets were at a high level. Order bookings in central and eastern European markets declined. Scania's market share for heavy trucks in western Europe was preliminarily 15.2 (16.1) percent. In Latin America, the number of trucks delivered declined by 7 percent. Scania's market share in Brazil rose to 35.8 (32.3) percent. During the first quarter of 1998, delivery capacity was limited due to the changeover of product range. Sales of service products rose by 9 percent. EARLIER ASSESSMENT STANDS Developments in Europe during the first quarter of 1999 support the potential for the operating income improvement in the order of SEK 1.5 billion for this year. This projection assumes unchanged volumes in European operations. Developments in Latin America remain difficult to assess, however. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/28/19990428BIT00550/bit0001.doc The full report http://www.bit.se/bitonline/1999/04/28/19990428BIT00550/bit0002.pdf The full report