Presentation Year-end Report 2013
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Transcript of Presentation Year-end Report 2013
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Year-end Report, January–December 2013 Erik Ljungberg, Corporate Relations
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Business overview Martin Lundstedt, President and CEO
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Full year 2013
Record high vehicle and service volume
Pre-buys in Europe and economic activity stabilising
Successful launch of Streamline and Euro 6
Good level of demand in Latin America
Volatile demand impacted production
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Europe Scania trucks, order bookings
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Higher market share
Correction in Q4 after pre-buys in Q3
Economic activity stabilising
Good demand for used trucks
Replacement need
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Strong position in Euro 6
Maintain leadership in fuel efficiency with Scania Streamline
Proven Euro 6 track record
Second generation with better fuel efficiency launched in 2013
Complete Euro 6 range available
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Latin America Scania trucks, order bookings
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Record high deliveries
Higher market share
Order bookings at a good level in Q4
Subsidies in Brazil and Argentina will continue
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Eurasia Scania trucks, order bookings
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Lower level of demand in Russia in Q4
Market leader among western brands
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Asia Scania trucks, order bookings
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Improved order bookings in the Middle East in Q4 from low level in Q4 2012
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Buses and coaches Scania buses and coaches, order bookings
Large orders in Russia, Malaysia and Taiwan in 2013
Europe at a low level
City bus order to Germany
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Engines Scania engines, order bookings
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Pre-buy activity ahead of transition to new emission standard (Stage IV/Tier4-final) in 2014
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Volatile demand impacts production
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Lower production level in Q1 2014
Reduction of personnel on hire and other measures
Investment for expansion of technical capacity to 120,000 vehicles is ongoing
-4% +15% -15%
+33%
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Record high volume
Investment in capacity
Ambition to further increase market share
Growing service revenue
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European heavy truck market
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Truck registrations > 16 tonnes
Units
0
50 000
100 000
150 000
200 000
250 000
300 000
350 000
1973 1978 1983 1988 1993 1998 2003 2008 2013
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Summary
Pre-buys will affect first half of 2014, but Europe stabilising
Lower production level in Q1 2014
Strong position with complete Euro 6 range and Streamline
Higher market share
Good level of demand in Latin America
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Year-end Report, January–December 2013 Jan Ytterberg, CFO
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Full year 2013 – highlights
Record high vehicle and service volume
Impact from stronger SEK and weaker BRL
High level of investments
Dividend SEK 4.00 per share (Board proposal)
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Volume trend Total deliveries, trucks and buses
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Record high volume
Lower production level in Q1 2014
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Revenue rose to record level of SEK 17,510 m. in full year 2013
Increased revenue in local currencies in several regions
Service revenue
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Earnings trend Operating income, Scania Group
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Net sales up 9% year-on-year and up 12% in Q4 2013
EBIT margin 9.7% (10.4) year-on-year and 10.1% (9.7) in Q4
Earnings per share SEK 7.75 (8.31) for FY 2013
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Operating income Vehicles and Services
EBIT increase:
SEK 42 m., 2013
+ Volume
+ Capacity
utilisation
– Currency
– Cost level
– Prices
-xxxx
EBIT increase due to: – Volume – Capacity utilisation
Negative effects:
– Currency – Higher cost level – Prices
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Cash flow Vehicles and Services
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Cash flow SEK 1,869 m. in Q4
Redemption of pension in Q1
High level of investments
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Net debt Vehicles and Services
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Net cash SEK 8,843 m. (Net cash SEK 9,361 m. at end of 2012)
Dividend payment SEK 3.8 bn. in Q2
Proposed dividend of SEK 4.00 (4.75) for 2013
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Volume trend Credit portfolio, Financial Services
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Portfolio +9% in local currencies since end of 2012
Record high operating income SEK 719 m. (606)
Historically low levels of overdue receivables
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Record high vehicle and service volume
Significant impact from stronger SEK on earnings
High level of investments
Record earnings in Financial Services
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Summary
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