Swedish truck manufacturer Scania has announced record earnings in the first quarter of 2024 with an uptick in sales driven by the launch of the Scania Super model.
Group net sales grew by 20% to SEK 55.1 billion (NZ$8.5b) while adjusted operating income reached SEK 8 billion (NZ$1.2b) and adjusted operating margin was 14.5%.
Vehicle deliveries increased by 17% to 26,496 vehicles, with zero emission vehicles (ZEV) amounting to 47 units.
Cash flow amounted to SEK 7.1 billion (NZ$1.09b) in vehicles and services.
Revenue from the service business increased by 3% adjusted for currency effects.
Order intake increased by 7% to 20,171 vehicles, with ZEVs amounting to 133 units.
“The global truck demand remains stable, driven by sustained fleet utilisation and replacement needs,” Scania says.
“The rebound in Latin America, driven mainly by the strong development in Brazil’s agricultural and mining sectors, continues and more than offset the somewhat more normalised market demand in Europe.
“Scania’s efforts to create a more resilient vehicle order-to-delivery flow resulted in increased volume, shorter lead times, and improved delivery precision.
“The increased volume and improved capacity utilisation positively impacted profitability,” the company says.
President and chief executive Christian Levin acknowledged Scania’s strong sales and its best-ever quarterly earnings.
“This success is attributed to high production volumes, with deliveries increasing by 17 percent compared to last year.
“Additionally, the rollout of our new fuel-efficient Scania Super has increased our market shares,” Levin adds.
