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Interim Report, January–September 2012 Erik Ljungberg Corporate RelationsErik Ljungberg, Corporate Relations
1
OutlookMartin Lundstedt President and CEOMartin Lundstedt, President and CEO
2
Business overview – first 9 months of 2012
European truck order bookings weak in Q3 European truck order bookings weak in Q3
Brazil supported by strong incentives at the end of Q3end of Q3
Uncertain outlook and currency head-wind
Increased focus on volume flexibility, efficiency and cost control
3
Europe Scania trucks order bookings
10,000
Scania trucks, order bookings
Lower level of orderUnits
’
7,000
8,000
9,000 Lower level of order
bookings
No normal pick-up
’
’
’
4 000
5,000
6,000 No normal pick-up
in September
Low economic
’
’
2,000
3,000
4,000 Low economic activity and hesitant customers
’
’
’
0
1,000
Q1 Q2 Q3 Q4 Q1 Q2 Q32011 2011 2011 20122011 2012 2012
’
4
Latin AmericaScania trucks order bookings
6,000 Transition to Euro 5
Scania trucks, order bookings
Units
’
4 000
5,000
Transition to Euro 5 and weaker economy in Brazil
’
3,000
4,000
Extensive incentives impacted positively t d f Q3
’
’
1,000
2,000at end of Q3’
’
0Q1 Q2 Q3 Q4 Q1 Q2 Q3
2011 2011 2011 20122011 2012 2012
5
EurasiaScania trucks order bookings
3,000
Scania trucks, order bookings
Good level ofUnits
’
2 000
2,500
Good level of demand in Russia ’
1,500
2,000’
’
500
1,000’
0Q1 Q2 Q3 Q4 Q1 Q2 Q3
2011 2011 2011 20122011 2012 2012
6
AsiaScania trucks order bookings
5,000
Scania trucks, order bookings
Middle East lower inUnits
’
3,500
4,000
4,500 Middle East lower in
Q3 and uncertain outlook
’
’
’
2 000
2,500
3,000 First half of 2012
impacted by major d t Chi
’
’
1,000
1,500
2,000order to China ’
’
’
0
500
Q1 Q2 Q3 Q4 Q1 Q2 Q32011 2011 2011 20122011 2012 2012
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Buses and coachesScania buses and coaches order bookingsScania buses and coaches, order bookings
Weak demandUnits
Weak demand
Reduced production ofproduction of buses in Poland
2011 2011 2011 20122011 2012 2012
8
EnginesScania engines order bookingsScania engines, order bookings
Significantly lowerUnits
Significantly lowerdemand in all regions during Q3 20122012
Industrial OEM t ksegment weaker
2011 2011 2011 20122011 2012 2012
9
Investments for long-term growth
Research and Development Research and Development
Production capacity
Sales and Services capacity in emerging markets
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Mining segmentLarge order from Peab/Northland in Q3Large order from Peab/Northland in Q3
Order worth SEK 1 5 Order worth SEK 1.5 bn over 10 years
400 truck and trailer 400 truck and trailer combinations and services
Mileage 400,000 km per year, GVW up to 9090 tonnes
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730730Euro 6 Euro 6 rangerange
5205205805801616 5 05 0
480480
370370410410
4404401313370370
36036099280280
32032036036099 SCR SCR onlyonly
250250280280
730730Euro 6 Euro 6 rangerange
1616 520520580580
5 05 0
480480
1313370370
410410440440
99370370
360360 340340280280 ethanolethanol
99280280
320320360360 340340 ggas, biogasas, biogas
250250280280 280280 ggas, biogasas, biogas
Summary
L l l f d d t f t k i Lower level of demand except for trucks in Latin America
Uncertain outlook and currency head-wind
Increased focus on volume flexibility, y,efficiency and cost control
Investments for long-term growth Investments for long-term growth
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Interim Report, January–September 2012Jan Ytterberg CFOJan Ytterberg, CFO
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First nine months of 2012 – highlights
Significantly lower vehicle deliveries
Service revenue stable
Higher cost level Higher cost level
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Volume trendTotal deliveries trucks and buses
24,000
Total deliveries, trucks and buses
Units
Europe and the
16 000
20,000
Europe and the Middle East at lower levels
12,000
16,000
Low utilisation of production capacity
4,000
8,000
0Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3Q4 Q1Q2Q3
2008 2009 2010 20122011
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Service revenue
5,000 Europe decreasing
SEK m.
4,000
Europe decreasing– southern region weak
2 000
3,000 Negative impactfrom currency
1,000
2,000
Addressingstructure in certainE k
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
European markets
2008 2009 2010 20122011
19
Earnings trendOperating income Scania GroupOperating income, Scania Group
204,500
SEK m.
Net sales -12%Percent
O ti iO ti i
14
16
18
3,500
4,000 Net sales -12%
9 mth 2012 and -15% in Q3
Operating marginOperating income
8
10
12
14
2,000
2,500
3,000
EBIT margin 10.7% (14.9) 9 mth
4
6
8
500
1,000
1,500 EBIT margin 10.5%
(14.2) in Q3
0
2
0
500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32008 2009 2010 20122011
20
Operating incomeVehicles and ServicesVehicles and Services
EBIT decrease due to:– Deliveries
EBIT decrease:
SEK 3,592 m., 9 mth 2012
- Deliveries
- Capacity
– Capacity utilisation– Cost level
p y
- Costs
- Price
– Price
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Currency exposure in operating income
22
Cash flowVehicles and ServicesVehicles and Services
4,000 Higher working
SEK m.
2 000
3,000
Higher working capital in Q3
Tax payment in
1,000
2,000 Tax payment in Brazil in Q1
Cash flow
-1,000
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Cash flow SEK 407 m. in Q3
2008 2009 2010 20122011
-2,000
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Net debtVehicles and ServicesVehicles and Services
100%12,000Net debt/equity ratioNet debt Net cash
SEK m.
40%
60%
80%
6,000
8,000
10,000Net debt/equity ratioNet debt Net cash
SEK 8,573 m. (Net cash SEK 10 615
0%
20%
40%
2 000
0
2,000
4,000
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
10,615 m.at end of 2011)
Di id d t
-60%
-40%
-20%
8 000
-6,000
-4,000
-2,000 Dividend paymentSEK 4 bn in Q2
-100%
-80%
-12,000
-10,000
-8,000
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Volume trendCredit portfolio Financial ServicesCredit portfolio, Financial Services
50,000
SEK m.
Portfolio +6%*
35 000
40,000
45,000
, Portfolio +6%since end of 2011
Operating income
20 000
25,000
30,000
35,000 Operating income SEK 433 m. (363) in 9 mth 2012
10,000
15,000
20,000
Increased bad debt in southern Europe d i Q3
0
5,000
1998 2000 2002 2004 2006 2008 2010 2012
during Q3
*In local currencies
25
In local currencies
Summary
Significantly lower vehicle deliveries
I d f l fl ibilit Increased focus on volume flexibility, efficiency and cost control
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