Swedish truck manufacturer Scania has released its interim report for the period of January to June 2024, showcasing a robust financial performance in the second quarter with significant growth in sales and earnings. The company's Group net sales saw a 9 percent increase to SEK 55.4 billion, up from SEK 51.0 billion in the previous year.

During this period, Scania reported an adjusted operating income of SEK 8.0 billion, compared to SEK 7.0 billion in the previous year, with an adjusted operating margin of 14.5 percent. Vehicle deliveries surged by 8 percent to 25,802 vehicles, including 62 Zero Emission Vehicles (ZEV). However, the cash flow for Vehicles and Services dipped to a negative SEK 459 million, a significant decrease from SEK 7,557 million in the previous year. 

The service business also saw growth, with revenue increasing by 3 percent when adjusted for currency effects. Despite a 3 percent decrease in order intake to 19,234 vehicles, the number of Zero Emission Vehicles in the order book increased to 141 units, up from 54 units in the previous year. 

Scania's positive financial performance in the second quarter was mainly attributed to higher delivery volumes and a favourable product and price mix. The company's President and CEO, Christian Levin, expressed satisfaction with the results, stating, “With higher delivery volumes and a favourable product and price mix, we once again achieved a record operating income for a single quarter.”

Levin also commented on the market conditions, noting that in Europe, the truck market is stabilising after a period of fluctuation, driven by a return to more normalised demand levels. However, he highlighted that high interest rates have made customers more cautious with their purchases, despite the lingering replacement need. In Latin America, the positive trend in Brazil continues to drive growth for the company. 

Overall, Scania's second-quarter performance reflects a resilient business model and a strategic focus on sustainable solutions in the evolving automotive industry landscape.