Scania makes a provision for Russia

CORRECTION OF THE PRESS RELEASE ON 13 SEPTEMBER, 2022 AT 13:45 CET

Scania makes a provision for Russia in connection with the disposal of Sales and Service operations and Financial Services in Russia.

Scania has invested and developed a business in Russia for several decades and has a great responsibility for relationships with customers and, above all, for employees.

After Russia invaded Ukraine, the export restrictions and sanctions have changed the general business situation in Russia. Already in March, Scania decided to stop deliveries of both trucks and parts to Russia and halted the production in St Petersburg.

Scania Group had per 1 of September, 2022 total assets of approximately BSEK 11 related to Russia. In 2021, approximately 6% of the Group’s net sales were attributable to Russia.

Following TRATON SE’s AdHoc announcement per today, Scania Group has, per 13 of September 2022, made a provision for Russia amounting to around BSEK 5. This will have a negative impact on the Q3 2022 result.

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 2021, we delivered 85,930 trucks, 4,436 buses as well as 11,786 industrial and marine power systems to our customers. Net sales totalled to over SEK  146 billion, of which over 20 percent were services related. Founded in 1891, Scania now operates in more than 100 countries and employs some 54,000 people. Research and development are mainly concentrated in Sweden. Production takes place in Europe and Latin America with regional product centres in Africa, Asia and Eurasia. Scania is part of TRATON GROUP. For more information visit: www.scania.com.