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July 28, 2021

Scania sees recovery continuing

Truck demand is buoyant, buses and coaches not so much.

By Graeme Roberts

Scania said first half 2021 sales increased by 28% to SEK 74,776m while operating income soared 246% to SEK 9,733m.

Comparisons were, of course, with the pandemic-ravaged first half of 2020.

Second quarter sales increased 54% to SEK 39,068m and operating income increased to SEK 5,076 m (from a SEK192m loss).

Christian Levin, president and CEO, said:¬†“The recovery has continued during the second quarter of 2021 and both order intake and deliveries rose sharply compared to the previous year. We delivered strong earnings with an operating margin of 13%, both in the second quarter and in the first half of 2021.”

The truck maker said it had managed to avoid unplanned production stoppages during the second quarter, “despite a very strained situation with a shortage of components in the supply chain”.

“Unfortunately, we do not expect the shortage of semiconductors to end in the short term but it is something we have to continue to deal with.”

Truck customers transport activity is high but the global bus and coach market is low due to the pandemic’s effect on demand for tourist vehicles.

 

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