Scania is reporting 113.8 billion Swedish kronor (NZ$18.4b) in net global sales for the first nine months of 2019, an increase of 15% to the previous year.
Earnings in the first nine months rose to SEK 13.8b (NZ$2.2b) with an operating margin of 12.2%.
“Higher vehicle and service volume contributed positively, as did currency effects and a favourable market mix,” president and chief executive Henrik Henriksson says.
“The measures put in place to reduce the higher long-term product cost level related to the new truck generation are continuing.
“The demand situation is now weaker than before and order bookings for trucks fell by 8% in the first nine months of 2019 compared to the year-earlier period.
“Demand for trucks in Europe has slowed as our customers are currently uncertain about the market development. In Latin America demand is still recovering at a sluggish pace.
“The uncertainty related to global trade continues to have a negative impact on order bookings in Asia and Eurasia. Demand for buses and coaches is slightly lower in the first nine months of 2019 than the year-earlier period, as is demand in the engines business area mainly related to lower order bookings in Asia.
“Scania’s global production system continually adapts to the demand situation, which means that we have to gradually adjust staffing levels. We are also reviewing the assignment of consultants for a range of projects,” Henriksson says.
