Sales and profits drop at Scania
The downturn in Europe is mainly attributable to weak markets in Britain, Italy, Spain, Russia and Poland.
The company’s turnover in 2009 was SEK62,074million (£5,384million), down 30 per cent from SEK88,977million (£7,719million) in 2008. Operating profit in 2009 was SEK2,473million (£214million), compared with SEK12,512million (£1,085million) in the previous year. The company has been cutting costs and has reduced the number of employees by 3,900 since September 2008 - a cut of about 10 per cent - and introduced short-time working at many of its plants.
It has also been focussing more on complete vehicles for the bus and coach markets. Referring to the European launch of its new Chinese-built model, Leif Östling, Scania president, says: “The new coach model, the Scania Touring, is a major step in Scania’s strategy of increasing the degree of industrialisation and expanding its service range related to complete buses and coaches.”