Scania sees profits and orders plummet

Net profits at Swedish truckmaker Scania plunged 93 percent to 179 million kronor for the first quarter ($21.8 million), the company reported on Monday as orders for new vehicles also took a dive.

Scania sees profits and orders plummet

The result was close to analysts’ forecasts, who predicted a profit of 201 million kronor according to a survey by Dow Jones Newswires.

Scania’s net profit for the same period in 2008 was 2.51 billion kronor.

Sales dropped by 28 percent to 15.86 billion kronor and deliveries fell 41 percent to 11,304 units, a company statement said, citing the turbulent economic climate as the reason behind the results.

Scania said it “foresees no change in the demand for vehicles in the coming quarters,” its chief executive Leif Östling said in the statement.

“The transport equipment industry is characterized by highly cyclical demand over a 10-year period, and we are now in the downturn,” he added.

The truckmaker recently announced 2,000 job losses affecting staff on fixed-term temporary contracts, much less than its Swedish rival Volvo Trucks which has cut 11,000 positions since September and plans to cut 10,000 more.

Volvo, the world’s second-biggest truckmaker, on April 24 reported first quarter losses of 4.2 billion kronor.

By 9.50am the price of Scania shares had fallen by 1.75 percent to 84.25 kronor on a Stockholm exchange down by 1.75 percent overall.

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The Bridge’s Porsche 911 to be auctioned for charity

The Porsche 911S driven by lead character Saga Norén in hit Danish-Swedish series The Bridge will be sold at auction, with profits going to charity.

The Bridge's Porsche 911 to be auctioned for charity
Saga Norén, played by Sofia Helin, with the 1977 Porsche 911S from The Bridge. Photo: Carolina Romare/Bonhams

With the series having concluded earlier this year, the iconic 1970s sports car is now set to be given a new home, Danish broadcaster DR reports.

The olive green car will be sold at the Bonhams Festival of Speed Sale in Goodwood in the United Kingdom on July 13th, with money raised to be donated to WaterAid, a Swedish NGO which aims for the entire world to have access to clean water by 2030.

Production companies Filmlance International and Nimbus Film, who collaborated with DR and its Swedish counterpart SVT on the series, agreed to give up funds raised from the sale to the cause.

Actor Sofia Helin, who played Saga in the all four seasons of the series, which began in 2011, is an ambassador for the charity.

Helin will be present at the auction of the Porsche in the UK next month.

“Saga’s Porsche is a big part of my life as an actor and is also a part of television history. I’m happy that this iconic car can also be beneficial after The Bridge,” Helin told DR.

Saga Norén's car on the Öresund Bridge. Photo: Jens Juncker/Bonhams

“(The production companies) have been very generous to agree to everything. They’re the ones that own the car, so in theory they could have sold it themselves and kept the money,” she said to Norwegian broadcaster NRK.

The Nordic Noir series was hugely successful in both Scandinavia and the UK and several other countries have created their own series about police work across borders.

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