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Swedish truckmaker Scania says net profit rose 20 percent in fourth quarter

Swedish truckmaker Scania says net profit rose 20 percent in fourth quarter

Swedish truckmaker Scania AB said Thursday profit rose 20 percent in the fourth quarter as orders nearly doubled, bringing sales to a record.
Scania, which successfully fended off a hostile takeover bid from German rival MAN AG, said net profit for the quarter rose to 1.82 billion kronor (euro200 million; US$260 million), or 9.12 kronor (euro1; US$1.31), a share, compared to 1.52 billion kronor, or 7.62 kronor a share, in the same period last year. Sales rose 4 percent to 19 billion kronor (euro2.09 billion; US$2.72 billion).
Orders jumped 44 percent to 25,417 truck and bus units, the company said.
The Sodertalje-based company said costs to fend off MAN's takeover bid, which the German company withdrew on Tuesday, lowered earnings by about 100 million kronor (euro11 million; US$14.3 million) during the quarter. Many analysts have said they expect the two companies to hold friendly talks about a possible merger, but Scania's earnings report did mention any plans for future discussions with MAN.
Scania expects demand for trucks to remain high this year in Europe, its largest market, and will increase production capacity by 25 percent to 80,000 vehicles a year, the company said.
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On the Net:
http://www.scania.com


Updated : 2021-04-13 19:09 GMT+08:00