Scania Six-month Report - January - June 2003
SCANIA SIX-MONTH REPORT - JANUARY - JUNE 2003 "Although the profit development has been satisfactory, the growth of the economies in Scania's main markets in western Europe continued to deteriorate, and our order bookings declined. Outside western Europe, demand improved and compensated for the volume drop in that region. However, most of the vehicles sold to markets outside western Europe are lower-specified ones and thus contribute less to profits. Overall, we remain cautious regarding the outlook during the rest of the year," says Leif Östling, President and CEO. FIRST HALF IN BRIEF First half Change Q2 in % Units 2003 2002 2003 2002 Trucks and buses - Order bookings 24,885 24,244 3 11,310 11 509 - Deliveries 24,475 21,096 16 12,736 11 056 Revenues and earnings SEK m. (unless otherwise stated) Revenue, Scania Group 25,019 23,456 12,843 10,969 Revenue in divested car - 0 - 1,146 operations Revenue, Scania Products 25,019 23,456 7 12,843 12 115 Operating income, Vehicles and 2,557 1,561 64 1,336 913 Service Operating income, Customer 176 166 6 94 85 Finance Operating income, Scania 2,733 1,727 58 1,430 998 products Operating income in divested - 550 - 509 car operations Operating income, Scania Group 2,733 2,277 1,430 1,507 Income before taxes 2,439 1,930 26 1,290 1,366 Net income 1,624 1,459 13 844 1,076 Operating margin, Scania 10.9 7.4 11.1 8.2 products, percent Return on equity, percent1 17.6 10.6 Return on capital employed, 20.7 11.8 Vehicles and Service, percent1 Earnings per share, SEK 8.12 7.30 Cash flow excluding Customer 553 988 379 858 Finance and divestments/acquisitions of companies Number of employees, 30 June 28,658 27,775 Number of shares: 200 million 1 Calculations are based on rolling 12-month income. Unless otherwise stated, all comparisons in brackets refer to the same period of last year. This report is also available at www.scania.com Södertälje, 23 July 2003 LEIF ÖSTLING President and CEO This Interim Report has not been subjected to special review by the company's auditors. Contact persons: Johan Haeggman, Corporate Relations tel. +46-8 5538 0053, mobile tel. +46-70 383 5200 Magnus Hahn, Business Communications tel. +46-8 5538 3510, mobile tel. +46-70 551 7903 Joanna Daugaard, Investor Relations tel. +46-8 5538 3716, mobile tel. +46-70 518 3716 Torbjörn Boije, Corporate Control tel. +46-8 5538 2228, mobile tel. +46-70 591 5016 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/07/23/20030723BIT00180/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/07/23/20030723BIT00180/wkr0002.pdf The full report