Profits at truckmaker Scania beat expectations

AFP/The Local
AFP/The Local - [email protected]

Swedish truckmaker Scania announced a return to profit and a slightly improved outlook on Monday with better-than-expected third quarter results due to the effects of cost cutting measures.


Scania said it had its net profits for the three months ending in September amounted to 278 million kronor ($27.3 million), down 85 percent from a year earlier but well above analyst forecasts for 17 million kronor as compiled by Dow Jones Newswires.

According to previously published figures, Scania lost 150 million kronor in the three months to June when sales fell 40 percent from a year earlier to 14.43 billion kronor.

"The European truck market is characterized by low economic activity but in Scania's judgement the downturn in western European demand has now levelled off," the company said in a statement.

"In Latin America, demand remains relatively good. In Asia, a certain recovery is under way," it added.

Third quarter deliveries fell 44 percent from a year earlier to 9,023 vehicles, it said.


Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also