Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Scania Q1 Profit Declines - Quick Facts

Scania (SVKBY.PK) said its first-quarter profit dropped to SEK 1.79 billion or SEK 2.24 per share from last year's SEK 2.51 billion or SEK 3.14 per share.

Net sales were down 3 percent to SEK 20.13 billion from SEK 20.69 billion in the prior-year quarter. Total deliveries decreased 15 percent year-over-year to 16,238 vehicles. Order bookings declined 19 percent to 15,809 from a year ago.

Lower vehicle deliveries and lower capacity utilisation pulled down earnings, as did higher costs for future-related projects, the company noted.

Leif Östling, President and CEO, said,

"...A more favourable market mix had a positive effect, as deliveries in Brazil were supported by some 2,000 Euro 3- vehicles during the first quarter. Total deliveries fell due to a deceleration in demand in late 2011. Scania has adjusted its production rate to the current level of demand. Overall order bookings for trucks during the first quarter of 2012 were in line with the end of last year..."

Further, the Board of Directors proposed a dividend of SEK 5.00 per share, same as last year, for the financial year 2011, with 9 May 2012 as the record date.

Click here to receive FREE breaking news email alerts for Scania AB and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After ending the previous session modestly lower, stocks are turning in a lackluster performance in early trading on Thursday. The major averages have turned mixed on the day, with the Dow benefiting from a strong gain by shares of Visa (V). Hundreds of protesters stormed Burkina Faso's parliament on Thursday and set fire to the building, preventing the lawmakers from considering a bill to extend the president's 27-year rule. Security forces opened fire on protesters, as they looted computers and televisions in the National Assembly, news agencies reported. The angry crowd then marched towards the President's office, before they were U.S. economic activity increased by more than expected in the third quarter of 2014, according to a report released by the Commerce Department on Thursday. The Commerce Department said GDP increased by 3.5 percent in the third quarter compared to 3.0 percent growth expected by economists.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.