Scania has reported a 27% jump in sales for the first nine months of the year, compared to the same period in 2009.
The Scandinavian truck group said that net sales increased by 27% to SEK55,663m (US$8,487m). Operating income rose to SEK9,021m, from SEK1,042m last year and earnings per share rose to SEK7.63 from SEK0.38.
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Leif Östling, President and CEO said: “Higher vehicle deliveries and significantly increased capacity utilisation mainly explain the improvement. The first nine months of 2009 were characterised by low capacity utilisation and by negative effects from currency hedging. Demand in markets outside Europe is generally at a good level. The Brazilian truck market is strong as an effect of high economic activity, and demand is also benefiting from tax breaks and interest rate subsidies.
“Scania has taken advantage of the group’s common global product range and production structure, which has enabled the company to meet the strong demand in Latin America. Demand throughout Europe, including Russia, improved during the period from a very low level last year. The daily production rate has increased continuously during the period and Scania has focused on maintaining short delivery times.
He added: “Aside from Latin America and Asia, which noted good service demand throughout the period, volume also rose more substantially in Europe during the third quarter.”
For the full Scania earnings release, click here.
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