Scania Group Half-Year Report 2024
Scania’s strong financial performance continued in the second quarter with net sales growing by 9 percent to SEK 55.4 billion, thanks to increased vehicle sales and a growing service business. Once again, operating income reached record levels for a single quarter, at SEK 8.0 billion, resulting in an operating margin of 14.5 percent.
With a more stable order-to-delivery flow, Scania managed to increase production output, reduce the order backlog to more normal levels and increase delivery volume in the second quarter.
Highlights
- Total net sales for Vehicles and Services amounted to SEK 55,427 m. (51,006) in the second quarter, which corresponds to an increase of 9 percent compared to same period last year. Currency effects between the periods was immaterial.
- Net sales for Trucks amounted to SEK 36,613 m. (33,101), which corresponds to an increase of 11 percent. This was due to higher volumes, price increases and a positive product mix. Adjusted for currency effect net sales of Trucks increased by 10 percent.
- Net sales for Services amounted to SEK 10,902 m. (10,500), which corresponds to an increase of 4 percent. Adjusted for currency effect Service net sales increased by 3 percent
- Adjusted operating income for Vehicles and Services amounted to SEK 8,026 m. (6,958) in the second quarter. Currency effects impacted negatively by SEK 11 m. The adjusted operating margin improved to 14.5 percent (13.6).
- Items affecting comparability amounted to SEK 0 m. (850).
- The adjusted operating margin was positively impacted by higher volumes, increased prices and product mix. This was partly offset by higher cost of input goods.
- The Group’s net cash position decreased by SEK 5,933 m. to SEK 22,173 m. due to dividend paid during the second quarter, offset by positive cash flow from the operations.
- The net cash position in Vehicles and Services decreased by SEK 6,214 m. to SEK 22,234 m. due to dividend paid during second quarter, offset by positive cash flow from the operations.
