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Scania 9-month Net Income Rises, Net Sales Up 15%; To Adjust Staffing Levels

Scania (SVKBY.PK) reported that its net income for the first nine months of 2019 increased by 36 percent to 9.86 billion Swedish kronor. Operating income increased by 37 percent to 13.89 billion kronor. Operating margin was at 12.2 percent compared to 10.3 percent, prior year.

For the first nine months of 2019, net sales increased by 15 percent to 113.82 billion Swedish kronor. Total vehicle deliveries increased by 9 percent to 74,720 units. Service revenue was at 21.5 billion kronor, an increase of 10 percent.

The company said the demand situation is now weaker than before and order bookings for trucks fell by 8 percent in the first nine months of 2019. Demand for buses and coaches is slightly lower than the year-earlier period.

"Scania's global production system continually adapts to the demand situation, which means that we have to gradually adjust staffing levels. We are also reviewing the assignment of consultants for a range of projects," Scania stated.

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