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Summary of the first three months of 2013

Operating income fell to SEK 1,933 m. (2,323), and earnings per share fell to SEK 1.75 (2.24)
Net sales fell by 4 percent to SEK 19,341 m. (20,127)
Cash flow amounted to SEK 4 m. (1,763) in Vehicles and Services

Scania lighten up the Stockholm bourse, as light in the European tunnel becomes the truck maker into posting better numbers.

Tuesday, 23 April 2013
Downward pressure on trucks in Europe is still strong and Scania CEO Martin Lundstedt is ducking the question whether the company will make money here.

This comes as the Swedish truck make Scania, announced earnings for the first quarter of 2013 amounting to Skr1,933 million. The stronger Swedish krona and price pressure on trucks pulled down earnings. Higher truck volume and higher capacity utilisation in Latin America had some positive effect.

"Order bookings in Europe improved compared to the previous quarter. There is a replacement need, given the low truck deliveries in recent years. Scania is well-positioned ahead of the transition to Euro 6 emission standards and has launched the Scania Streamline truck with improved fuel economy, featuring second generation Euro 6 engines,"writes the CEO, Martin Lundstedt in a statement.

Scania's orders rose 28 percent in the first quarter year-on-year for trucks and were close to unchanged over the fourth quarter of 2012, compensating for a bigger-than-expected drop in first quarter earnings to 17 percent.

Scania lighted up the stock market by 7.5 percent after an unexpectedly strong sales during the first quarter. Though the result did not meet analysts' expectations they did not scare off investors.
More reporting on Scania

Reuters: European recovery boosts truck maker Scania's orders
Bloomberg: Scania to Invest in Capacity Growth After Orders Jump 31 percent

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