SÖDERTÄLJE, Sweden--(BUSINESS WIRE)--Scania’s net sales rose to a record level of SEK 92 billion and earnings for the full year 2014 increased to SEK 8,721 m. Record service volume, record earnings in Financial Services and positive currency rate effects were partly offset by a weaker market mix.
Summary of the full year 2014
• Operating income rose by 3 percent to SEK 8,721 m. (8,455)
• Net sales rose by 6 percent to a record level of SEK 92,051 m. (86,847)
• Cash flow amounted to SEK 4,690 m. (3,742) in Vehicles and Services
Comments by Martin Lundstedt, President and CEO:
“Scania’s net sales rose to a record level of SEK 92 billion and earnings for the full year 2014 increased to SEK 8,721 m. Record service volume, record earnings in Financial Services and positive currency rate effects were partly offset by a weaker market mix. Total order bookings for trucks increased during the fourth quarter, compared to the previous quarter. The increase was primarily related to an upturn in Europe, which is in line with the seasonal pattern in the European market. Scania has strengthened its position in the European market with increased market share compared to 2013, among other things through a leading Euro 6 range and a broad range of engines for alternative fuels. Order bookings in Latin America decreased. Low economic activity and uncertainty about the subsidised financing programme in Brazil had a negative impact. In Asia, order bookings decreased compared to the previous quarter, related to the Middle East. Order bookings in Russia held up but the outlook for the region is uncertain. In buses and coaches, order bookings were sequentially higher, driven by Asia. In Engines, order bookings and deliveries reached all-time high levels. Scania is continuing its long-term efforts to boost market share in Services and revenue increased by 8 percent to a record SEK 18.8 billion during 2014. Financial Services reported record earnings, with operating income of more than SEK 1 billion. In gearboxes, Scania has initiated extensive cooperation with MAN, which will mean a stronger product offering and generate significant synergies in the longer term.”
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Scania (STO:SCVA) (STO:SCVB) is one of the world’s leading manufacturers of trucks and buses for heavy transport applications, and of industrial and marine engines. Service-related products account for a growing proportion of the company’s operations, assuring Scania customers of cost-effective transport solutions and maximum uptime Scania also offers financial services. Employing some 41,000 people, the company operates in about 100 countries. Research and development activities are concentrated in Sweden, while production takes place in Europe and South America, with facilities for global interchange of both components and complete vehicles. In 2013, net sales totalled SEK 86.8 billion and net income amounted to SEK 6.2 billion. Scania press releases are available on www.scania.com (http://www.scania.com/se)
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