Scania revenues grow by almost a quarter

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Order bookings for Scania coaches and buses were down, though deliveries were up 12% and the division is performing well financially. MIKE SHEATHER

Scania has released a financial report for the six months ended June 30, 2017, with a strong performance overall, though the coach and bus division did see a decline in order bookings.

Overall, order bookings for the company rose by 24% to 54,653, with deliveries increasing by 8% to 43,608.

Revenue increased by 17% to SEK 58,738m (£5,506m), with operating profit standing at SEK 6,464m (£606m), up from SEK 1,316m (£123.37m) in the previous year.

Order bookings for coaches and buses were down 10% at 4,319, while deliveries were up 12% at 3,727. Net sales rose by 8% to SEK 4,791m (£449m).

Scania President and CEO, Henrik Henriksson, said: “Scania’s net sales rose to a record high SEK 58.7 billion, an increase of 17% compared to last year.

“The period was affected by a high investment level and increased production costs for double product ranges. In spite of this, the company delivered a very strong performance thanks to strong demand for the new truck range and a continued positive trend in services.

“Earnings in the first half of 2017 amounted to SEK 6,464m, giving an operating margin of 11%. Order bookings for trucks rose by 29% compared to the same period last year.

“Order bookings in coaches and buses remained strong overall but fell slightly compared to the same period in 2016.”