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Scania’s earnings for the first quarter of 2013 amounted to SEK 1,933 m. The stronger Swedish krona and price pressure on trucks pulled down earnings. Higher truck volume and higher capacity utilisation in Latin America had some positive effect.
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Interim Report, January–March 2013 Erik Ljungberg Corporate RelationsErik Ljungberg, Corporate Relations
1
Business overviewMartin Lundstedt President and CEOMartin Lundstedt, President and CEO
2
First three months of 2013
Improved order bookings in Europe Improved order bookings in Europe
Order bookings in Latin America at a high levela high level
Service volume stable
Focus on adjusting cost level
3
Europe Scania trucks order bookingsScania trucks, order bookings
Improved order Units10 000,p
bookings in Q1
Stronger 7 000
8 000
9 000,
,
,gperformance than overall market
4 000
5 000
6 000,
,
Replacement need2 000
3 000
4 000,
,
,
2011 2011 2011 20122011 2012 2012 2012 2013
0
1 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
,
4
Scania Streamline – fuel efficiency
Better fuel efficiencyefficiency
Improved aerodynamicsaerodynamics
New Scania OpticruiseOpticruise gearbox
Connected Connected vehicles
5
Full Euro 6 range
Second generation Second generation with better fuel efficiency than Euro 5
Both EGR/SCR engines and SCR-only g yengines
Alternative fuels Alternative fuelsScania 9-litre gas engine, gas specific components.
6
Latin AmericaScania trucks order bookings
Order bookings at
Scania trucks, order bookings
Units8 000,g
a high level
Incentives in Brazil 6 000
7 000,
,
and Argentina
Strong performance 4 000
5 000,
,
g pin Brazil
1 000
2 000
3 000,
,
0
1 000
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q12011 2011 2011 20122011 2012 2012 2012 2013
,
7
EurasiaScania trucks order bookingsScania trucks, order bookings
Good level of Units3 000,
demand in Russia
2 000
2 500,
1 500
2 000,
,
500
1 000,
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2011 2011 20122011 2012 2012 2012 2013
8
AsiaScania trucks order bookingsScania trucks, order bookings
Middle East Units5 000,
improved from low level
3 500
4 000
4 500,
,
,
Stable demand in markets outside Middle East 2 000
2 500
3 000,
,
Middle East
1 000
1 500
2 000,
,
,
2011 2011 2011 20122011 2012 2012 2012 2013
0
500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
9
Buses and coachesScania buses and coaches order bookingsScania buses and coaches, order bookings
3,000Units
Order bookings at
2 000
2,500
ghigh level in Q1
Large orders from
1,500
2,000gRussia and Malaysia
500
1,000 Higher order bookings in Brazil and Mexico
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
and Mexico
Europe weak 2011 2011 2011 20122011 2012 2012 2012 2013
10
EnginesScania engines order bookings
2,500
Scania engines, order bookings
ImprovementUnits
2,000
pcompared to endof 2012
1 000
1,500 Main increase in western Europe
500
1,000
Some improvementin Asia
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2011 2011 2011 20122011 2012 2012 2012 2013
11
Service revenue
5,000 Service volume SEK m.
4,000
stable
Southern Europe
2 000
3,000
pweak
Increased volume
1,000
2,000
in several regions outside Europe
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2009 2010 20122011 2013
12
Adjusting cost level
Daily production rate in Europe y p preduced during Q1
Measures taken in the service Measures taken in the service network in certain European markets
Restrictive with hiring and general spendingg p g
13
Prioritised investments
Core development pprojects
Sales and Services capacity in emerging markets
Increase technical production capacity to 120 000to 120,000
14
Summary
Improved order bookings in Q1 p g Qin several markets
Large bus orders Large bus orders
Price pressure and stronger SEK
Adjusting cost level and prioritising investments
15
16
Interim Report, January–March 2013 Jan Ytterberg CFOJan Ytterberg, CFO
17
First three months of 2013 – highlights
Impact from stronger SEKp g
Improved capacity utilisationin Latin Americain Latin America
Higher truck volume
18
Volume trendTotal deliveries trucks and buses
24,000
Total deliveries, trucks and buses
Higher volume Units
16 000
20,000
gdriven by Latin America
12,000
16,000 Lower deliveries
in Asia
4,000
8,000 Low capacity utilisation in Europe
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2009 2010 2011 20132012
High utilisation in Latin America
19
Service revenue
5,000 Southern Europe SEK m.
4,000
pweak
Increased revenue
2 000
3,000in local currency in several regions
1,000
2,000
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
2009 2010 20122011 2013
20
Earnings trendOperating income Scania GroupOperating income, Scania Group
204,000SEK m.
Net sales -4% PercentOperating marginOperating income
14
16
18
3,000
3,500in Q1 2013
EBIT margin 10.0%
8
10
12
2,000
2,500g
(11.5)
Earnings per share
4
6
8
500
1,000
1,500g p
SEK 1.75 (2.24)
0
2
0
500
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q12009 2010 2011 20132012
21
Operating incomeVehicles and ServicesVehicles and Services
+ Volume
EBIT decrease due to:– Currency rate effects
PricesEBIT decrease:
SEK 414 m., Q1 2013
+ Capacity utilisation
C
– Prices– Utilisation fee in
RussiaQ1 2013– Currency
– Prices
– Fee Positive effects:
– Capacity utilisation in Latin America
– Truck volume
22
Cash flowVehicles and ServicesVehicles and Services
4,000 Redemption of some SEK m.
2 000
3,000
pSEK 800 m. related to pensions (PRI)
1,000
2,000
Taxes paid in Brazil
High level of
-1,000
0Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1
ginvestments
2009 2010 2011 20132012
-2,000
23
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
SEK 9,554 m. (Net cash SEK 9 361 m at end
0%
20%
40%
2 000
0
2,000
4,000
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
9,361 m. at endof 2012)
Board has proposed
-60%
-40%
-20%
-8 000
-6,000
-4,000
-2,000 Board has proposeddividend per shareof SEK 4.75 (5.00)
-100%
-80%
-12,000
-10,000
-8,000
24
Volume trendCredit portfolio Financial ServicesCredit portfolio, Financial Services
50,000
SEK m. Portfolio stable
35 000
40,000
45,000
,
since end of 2012 in local currencies
20 000
25,000
30,000
35,000
Operating income SEK 155 m. (131) in Q1 2013
10,000
15,000
20,000in Q1 2013
0
5,000
1998 2000 2002 2004 2006 2008 2010 2012
25
Summary
Impact from stronger SEK p gon revenue and earnings
Higher truck deliveries Higher truck deliveries
Adjusting cost level
Higher capacity utilisation in Latin America
26
27
