Scania Group said Q1 2024 sales grew 20% to SEK55.1bn while adjusted operating income rose to SEK8bn from SEK6.2bn and adjusted operating margin was 14.5% versus 13.5%.
Vehicle deliveries increased 17% to 26,496 vehicles but Zero Emission Vehicles (ZEV) sales fell to 47 from 74.
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Revenue from the service business increased 3% and order intake increased 7% to 20,171 vehicles with ZEV volume of 133 units versus 47.
“The global truck demand remains stable, driven by sustained fleet utilisation and replacement needs,” Scania said in its results statement.
“The rebound in Latin America, driven mainly by the strong development in Brazil’s agricultural and mining sectors, continues and more than offset the somewhat more normalised market demand in Europe.”
Efforts to create a more resilient vehicle order to delivery flow resulted in increased volume, shorter lead times and improved delivery precision. Increased volume and improved capacity utilisation positively impacted profitability.
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By GlobalData“Scania achieved strong sales and its best ever quarterly earnings,” said president and CEO Christian Levin.
“This success is attributed to high production volume with deliveries increasing by 17% compared to last year.
“Additionally, the rollout of our new fuel efficient Scania Super has increased our market shares.”
