Swedish automotive company Scania AB (SVKBY.PK) Tuesday posted a decline in income for the first quarter, reflecting lower revenue from the vehicles and services segment. The firm said the stronger Swedish krona and price pressure on trucks pulled down earnings.
For the period the firm posted net income of SEK 1.398 billion versus SEK 1.794 billion a year ago. On a per share basis, earnings for the period were SEK 1.75, compared with SEK 2.24 a year earlier.
Net sales in the vehicles and services segment was SEK 19.341 billion compared with prior-year sales of SEK 20.127 billion.
The firm has further proposed a final dividend of SEK 4.75 per share for the financial year 2012, with May 8 as the record date.
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