Scania reports record Q1 earnings off the back of Scania Super

In News, Scania1 MinutesBy NZ Trucking magazineMay 10, 2024

Scania has announced record earnings in the first quarter of 2024 with an uptick in sales driven by the launch of the Scania Super.

Net sales grew by 20% to SEK55.1 billion, while  adjusted operating income reached SEK8.0 billion, with adjusted operating margin 14.5%.

Vehicle deliveries increased by 17% to 26,496 vehicles, with Zero Emission Vehicles amounting to 47 units.

Order intake increased by 7% to 20,171 vehicles, with Zero Emission Vehicles amounting to 133 units.

The Swedish truck manufacturer said global truck demand remains stable, driven by sustained fleet utilisation and replacement needs. 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 said.

“Scania achieved strong sales and its best-ever quarterly earnings. This success is attributed to high production volumes, with deliveries increasing by 17% compared to last year,” said Christian Levin, president and CEO of Scania.

“Additionally, the rollout of our new fuel-efficient Scania Super has increased our market shares.”