1 year-end report january –december 2004 leif Östling president and ceo

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  • Slide 1
  • 1 Year-end Report January December 2004 Leif stling President and CEO
  • Slide 2
  • 2 Key figures Full year 2004 Order bookings59,981 vehicles+23% Deliveries56,082 vehicles+12% RevenueSEK 56,788 m. +12% Operating margin11.2% (10.1%) Net incomeSEK 4,077 m.+34% Earnings per shareSEK 20.39 (15.17) Proposed dividendSEK 15.00 (6.00)
  • Slide 3
  • 3 Total order bookings Trucks and bus chassis 2001200220032004 Units 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
  • Slide 4
  • 4 Scania in brief Full year 2004 Used vehicles etc. 12% Buses 9% Trucks 58% Revenue by product areaDeliveries by market Africa, Asia and Oceania 16% Central and eastern Europe 10% South America 16% Western Europe 58% Engines 1% Service-related products 20%
  • Slide 5
  • 5 Revenue by market January-December Amounts in SEK m. 20042003Change in % Great Britain7,7447,2557 Germany3,8163,44911 Brazil3,8152,53750 France3,5453,22610 Sweden3,4993,3494 Italy3,2762,97910 Spain3,2053,0176 The Netherlands2,4482,04720 Norway2,2201,95713 Denmark1,6411,21136
  • Slide 6
  • 6 Market developments Europe - trucks Increased demand in many markets, due to Western EuropeCentral and eastern Europe Continued good growth Increased order bookings and deliveries especially in Poland, Czech Republic and Russia - Replacement need - Continued exports of used vehicles to central and eastern Europe Largest increases in the Nordic markets, Germany and Italy European economic development?
  • Slide 7
  • 7 Market developments Other markets - trucks South America Growing total market Scania market leader in Brazil Africa, Asia and Oceania Continued growth in most markets Increased order bookings especially in Taiwan, United Arab Emirates, Malaysia and Turkey
  • Slide 8
  • 8 Deliveries reached highest level in Scania history Order bookings rose by 34% Buses and coaches Industrial and Marine engines All time high in volumes Order bookings rose by 59%
  • Slide 9
  • 9 Year-end Report January December 2004 Jan Gurander Group Vice President and CFO
  • Slide 10
  • 10 Key figures Full year 2004 Vehicle deliveries 56,082 units+12% RevenueSEK 56,788 m. +12% Operating income SEK 6,337 m. +24% Operating margin 11.2% (10.1%) Net incomeSEK 4,077 m. +34% Return on equity 20.8% (17.4%) Return on capital employed28.1% (22.0%)
  • Slide 11
  • 11 Vehicle revenue SEK m. 200120022003 2004 0 2,000 4,000 6,000 8,000 10,000 12,000 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
  • Slide 12
  • 12 Service revenue SEK m. 200120022003 2004 0 500 1,000 1,500 2,000 2,500 3,000 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
  • Slide 13
  • 13 Operating income Scania Group 2001 2002 20032004 SEK m.Operating margin, % Note: Excluding divested car operations 0 500 1,000 1,500 2,000 2,500 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 0 2 4 6 8 10 12 14 16
  • Slide 14
  • 14 Operating income Vehicles and Service SEK 5,887 m. SEK 4,759 m. Full year 2004 Full year 2003 Higher volume Capacity utilisation Service business R&D expenditures Currency effect
  • Slide 15
  • 15 Operating income Customer Finance SEK 450 m. SEK 366 m. Full year 2004 Full year 2003 Interest margin Lower credit losses Operating expenses
  • Slide 16
  • 16 Size of portfolio Customer Finance SEK m. 0 5,000 10,000 15,000 20,000 25,000 30,000 19941995199619971998199920002001200220032004 0 100 200 300 400 500 Operating income SEK m.
  • Slide 17
  • 17 Cash flow Vehicles and Service 2001200220032004 SEK m. Note: Excluding acquisitions/divestments and Customer Finance 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
  • Slide 18
  • 18 Net debt Vehicles and Service Note: Excluding Customer Finance SEK m. 200120022003 2004 0 2,000 4,000 6,000 8,000 10,000 Q2Q4Q2Q4Q2Q4Q2Q4
  • Slide 19
  • 19 Scania IFRS transition Income effect 2004 Amounts in SEK m. Goodwill amortisation170 Tangible fixed asset depreciation30 Deferred tax-10 Net income effect190
  • Slide 20
  • 20 Scania IFRS transition Balance sheet effect Amounts in SEK m. 01 Jan 2004 Gross effect Tax effect Equity effect Tangible fixed assets280-95185 31 Dec 2004 Tangible fixed assets310-105205 Intangible fixed assets170- 480-105375 01 Jan 2005 Financial instruments35-1025
  • Slide 21
  • 21 Conclusions Scania had a successful year in 2004 Truck deliveries were high Sales of buses as well as industrial and marine engines reached record levels Service revenues showed continued good growth Customer finance showed good development Changeover without disruptions
  • Slide 22
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