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September 14, 2022

Scania costs Russia exit

Scania has made provision for the cost of disposal of sales, service and financial services operations in Russia

By Graeme Roberts

Scania has made provision for the cost of disposal of sales, service and financial services operations in Russia.

The truck maker said in a statement it had “invested and developed a business in Russia for several decades and has a great responsibility for relationships with customers and, above all, for employees”.

Russia’s invasion of Ukraine and consequent export restrictions and sanctions had “changed the general business situation in Russia”.

Last March, Scania stopped deliveries of trucks and parts to Russia and halted vehicle production in St Petersburg.

On 1 September, Scania Group had assets of BSEK11 related to Russia and, last year, around 6% of group sales were attributable to the market.

The group had made provision for exiting Russia of BSEK 5.

“This will have a negative impact on the Q3 2022 result,” Scania said.

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