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Press conference Erik Ljungberg Corporate RelationsErik Ljungberg, Corporate Relations
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Interim Report, January-September 2010 Jan Ytterberg CFOJan Ytterberg, CFO
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First nine months of 2010 – highlights
R d hi h ti i i Q3 Record high operating margin in Q3– Sharp increase in deliveries
Significantly higher capacity– Significantly higher capacity utilisation
– Currency effects incl hedgingy g g
Cash flow of SEK 8,388 m. (Vehicles and Services) in the first nine monthsand Services) in the first nine months
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Volume trendTotal deliveries trucks and busesTotal deliveries, trucks and buses
24,000Units
16 000
20,000 Deliveries +47% in 9 mth
16,000
12,000 Significantly
higher production t
4,000
8,000rate
High deliveries in Q3Q3
0
2006Q1 Q2 Q3 Q4
2007 2008 2009 2010Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
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Service revenue
5,000SEK m.
4,000
Volume increase ~10%
2,000
Improved capacity utilisation
3,000
1,000
,
Negative impact from currency
0
2006Q1 Q2 Q3 Q4
2007 2008 2009Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010Q1 Q2 Q3
5
Earnings trendOperating income Scania GroupOperating income, Scania Group
4,500SEK m.
20Percent
Operating marginOperating income
4,000
3 000
3,500
Net sales +27% 9 mth 2010 16
14
18
2,000
3,000
2,500 EBIT margin 16.2%
(2.4) 9 mth 20108
12
10
1,000
500
1,500 EBIT margin 18.3% (3.9) Q3 2010 4
2
6
500
0
2
0
2006Q1 Q2 Q3 Q4
2007 2008 2009 2010Q2Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3
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Operating incomeVehicles and ServicesVehicles and Services
+ Volume
EBIT increase due to:– Volume
EBIT increase:
SEK 7,806 m. 9 mth 2010
+ Capacity
+ Currency
+ Efficiency
– Capacity utilisation– Currency effects
Cost efficiency 9 mth 2010– Cost efficiency
Negative impact:Mi
- Mix
– Mix
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Cash flowVehicles and ServicesVehicles and Services
4 000SEK m.
Improved earnings
3,000
4,000
1,000
ea gs
Lower working capital
2,000
- 1,000
0
capital
Low level of investments
2006Q1 Q2 Q3 Q4
2007 2008 2009 2010Q2Q1 Q2 Q3Q4 Q1 Q2 Q3
Q4
Q1 Q2 Q3 Q4 Q1 Q3
- 2,000
,investments
Note: Excluding acquisitions/divestments and Financial Services
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Note: Excluding acquisitions/divestments and Financial Services
Net debtVehicles and ServicesVehicles and Services
SEK m.100
Percent10 000
8,000
6,000 60
100
80Net debt/equity ratioNet debt
10,000
Net cash SEK 4,134 m.
2,000
404,000
20
(Net debt 4,038 end of 2009)
02008 20092001 2002 2003 2004 2005
2006 20072000
-2,000 -20
40
0 Conservative refinancing approach
2010Q3
-40-4,000
-6,000 -60
approach
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Volume trendCredit portfolio Financial ServicesCredit portfolio, Financial Services
50 000SEK m.
Portfolio 5% 50,000
35 000
40,000
45,000 Portfolio -5%,
local currencies
Lower but still30,000
35,000
25,000
Lower but stillhigh bad debt expenses
10,000
15,000
20,000
Positive result in Q2 and Q3
5,000
01998 20071999 2000 2001 2002 2003 2004 2005 2006 20091997 2008 2010
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Summary
Record operating margin– Sharp volume increase– Substantially higher capacity utilisation– Currency effects
Net cash position in Vehicles and Services due to strong cash flow
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OutlookLeif Östling President and CEOLeif Östling, President and CEO
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Business overview
Europe incl Russia has improvedp p
Latin America stabilising at a high levelhigh level
Gradually higher daily production raterate
Stronger European service demand in Q3
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Share of deliveries Q3 2010
Europe 40%40%
Latin America
Asia and other
32% 28%
1515
Latin American truck demand
7,000Units
D li i f S iO d t S i6,000
5,000
Deliveries from ScaniaOrders to Scania
3,000
2 000
4,000
0
1,000
2,000
1998 20071999 2000 2001 2002 2003 2004 2005 2006 200919971996 2008 2010
-1,000
1998 20071999 2000 2001 2002 2003 2004 2005 2006 200919971996 2008 2010Q3
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European truck demand
20,000Units
D li i f S iO d t S i
14,000
16,000
18,000Deliveries from ScaniaOrders to Scania
8,000
12,000
10,000
4,000
2 000
6,000
,
1998 20071999 2000 2001 2002 2003 2004 2005 2006 200919971996
2,000
02008 2010
Q3
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Order trendBuses
3,000Units
Buses
2 000 Europe -11% first 9 2,000pmth
Latin America 53%1,000
at e ca 53%
Asia and other 9%
0
2006Q1 Q2 Q3 Q4
2007 2008 2009Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010Q1 Q2 Q3
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Engines
Engine platform ready for 2014 emission legislationemission legislation
Agreement with Doosan on dumpersDoosan on dumpers and wheel loaders in Q3
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Production ramp-up
Higher daily rate
Improved productivity Improved productivity
Short lead times
Higher risk of bottlenecks
Hired >1,000 employees on temporary contracts p yin Q2 and Q3 in Europe
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Service trend
5,000SEK m.
4,000 Stronger European
demand in Q3
2,000
demand in Q3
Continued high demand in Latin
3,000
1,000
,demand in Latin America
0
2006Q1 Q2 Q3 Q4
2007 2008 2009Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2010Q1 Q2 Q3
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European truck deliveries
20,000Units
D li i f S i
14,000
16,000
18,000Deliveries from Scania
8,000
12,000
10,000
4,000
2 000
6,000
,
1998 20071999 2000 2001 2002 2003 2004 2005 2006 200919971996
2,000
02008 2010
Q3
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