Scania Annual Report 2013
Total Page:16
File Type:pdf, Size:1020Kb
Annual Report 2013 Annual Report 2013 Scania AB (publ), SE-151 87 Södertälje, Sweden Telephone: +46 8 55 38 10 00. Fax: +46 8 55 38 10 37 www.scania.com 2245144 / EN / One Stone / Kreab Gavin Anderson / Trosa Tryckeri, 2014 Tryckeri, Gavin Anderson / Trosa 2245144 / EN One Stone Kreab With the aim to be a leader in sustainable transport, Scania creates value for share holders, customers, employees and society. Delivering customised heavy trucks and buses, engines and services, our focus is on efficient, low-carbon solutions to enhance customer profitability. We leverage the competencies and experience of our dedicated workforce to deliver on this promise to our customers. On the journey to a more sustainable future, we are guided by our core values and a strong focus on contin uous improvement. Annual Report and financial information Website Scania shareholders are the main target group for the Annual Report, On Scania’s website, www.scania.com, it is easy to follow events at the which is sent to those who have ordered it. All new shareholders company during the year, monitor Scania’s share price and compare receive a letter welcoming them to Scania’s shareholder services, its performance with that of competitors, as well as see the latest where they may order information, in the format and the quantity they transactions, share price history, dividend history and other share data. wish. They may subscribe to the Interim Reports, the Annual Reports, Shareholders can calculate the return of their own holdings as well. the shareholder magazine Scania Value, invitations to the Annual The website also provides historical financial data, truck registration General Meeting and press releases via e-mail, as well as order printed statistics, key financial ratios and much more. versions of Annual Reports, Interim Reports and Scania Value. In addition, other stakeholders have the opportunity to subscribe to financial information via Scania’s website, where it is also possible to order printed information in single copies. Financial information is available in Swedish and English and may be ordered from Scania AB, Investor Relations, SE-151 87 Södertälje, Sweden, e-mail [email protected], telephone +46 8 553 810 00, or at www.scania.com/shareholder www.scania.com/subscribe www.scania.com/printedmaterial This is the English language version of Scania’s Annual Report. The Swedish language Annual Report is the binding version that shall prevail in case of discrepancies. Translation and copy-editing: David Murphy, Word of Mouth and Victor Kayfetz, Scan Edit. The Financial Reports encompass pages 62–129, and were prepared in compliance with International Financial Reporting Standards (IFRSs). The Report of the Directors encompasses pages 34–61 and 130–131. The Report of the Directors and accompanying Financial Reports also fullfil the requirements of the Swedish Annual Accounts Act and have been audited by Scania’s auditors. Scania Swedish Photo: Dan Boman, Göran Wink, Petter Magnusson, Kjell Olausson, Andrew Leung, Silvio Serber, Kasper Dudzik, Carl-Erik Andersson, Arun H.C, corporate identity number: Scania AB (publ) 556184-8564. Unless otherwise stated, all comparisons in Annual Report refer to the same period of the preceding year. Johan Spinell, Leif Hansson, Lucas Holm, Peggy Bergman, Piotr Gesicki, IAI, Tedd Soost, Andreas Larendius, Christopher Crookes och Shutterstock. SCANIA 2013 CONTENTS STRATEGY 2–33 An increased global presence 2 Overview of 2013 4 CEO statement 6 Our strategy Setting our strategic direction 8 Our core values 10 Shifting landscape reshapes transport 12 Growth with profitability 14 Our business model Customer first 16 Tailored concept tackles fuel costs 18 Customised solutions 20 Our approach Steady improvements through involvement 24 Innovation at the core 28 Building competencies for the future 30 Creating stakeholder value 32 ABOUT THIS REPORT REPORT OF THE DIRECTORS 34 – 61, 130 –131 This annual report summarises the financial Scania’s operations in 2013 36 year 2013 and provides an overview of Scania’s Scania share data 42 business and operations. All of Scania’s busi Risks and risk management 44 ness units, subsidiaries and production units Articles of Association 48 worldwide are included in its scope. Corporate governance at Scania 49 The annual report also reflects an assess Board of Directors and Executive Board 55 ment of our strategy, performance and long Group financial review 59 term prospects in relation to the financial and nonfinancial issues important to our business. FINANCIAL REPORTS 62–129 Inspired by the emerging international frame Consolidated income statements 64 work for integrated reporting, we carried out Consolidated balance sheets 66 a materiality process, drawing on knowledge Consolidated statements of changes in equity 68 gained from targeted stakeholder groups and Consolidated cash flow statements 69 internal experts on business strategy and Notes to the consolidated financial statements 70 sustainability to identify priority areas. Other Parent Company financial statements, Scania AB 126 inputs included research, megatrends, industry Notes to the Parent Company financial statements 128 impacts and competitor priorities. More infor Proposed guidelines for salary and other remuneration 130 mation is available in our sustainability report, Proposed distribution of earnings 131 published on our website, www.scania.com. The annual report is available on our web Audit report 132 site and printed copies may be obtained from Quarterly data 134 Investor Relations. Contact details are available Key financial ratios and figures 136 on page 143. Definitions 137 Multi-year statistical review 138 Annual General Meeting and financial information 140 SCANIA 2013 1 SCANIA IN BRIEF AN INCREASED GLOBAL PRESENCE LULEÅ SÖDERTÄLJE OSKARSHAMN ST. PETERSBURG With 41,000 employees in 100 countries, SŁUPSK Scania’s global reach enables us to better support MEPPEL ZWOLLE ANGERS our customers worldwide. In 2013 a stronger We take a coordinated approach to our supply chain with an BUSAN regional presence and increased focus on services emphasis on high quality and an further boosted our offering. With 17,600 people in increased focus on sustainability. TAIPEI Central purchasing is based in DUBAI our sales and service network, we are strategically Södertälje, with local offices in Latin America, the United States, placed where our customers need us – wherever India, Russia and China. they operate. BENGALUREBENGALURU KUALA LUMPUR SALES AND SERVICES REGIONAL PRODUCT CENTRES PRODUCTION UNITS RESEARCH AND DEVELOPMENT TUCUMÁN SÃO PAULO JOHANNESBURG Scania’s head office, where 5,400 people work, is located in Södertälje, Sweden. Our three core values anchor our way of working globally. Our working methods are defined by continuous improvement and the close involvement of employees in their daily work. Sales and deliveries by region, 2013 AMERICA EUROPE AFRICA AND OCEANIA Trucks*: 23,756 units Trucks: 32,625 units Trucks: 3,570 units Buses* and coaches: 2,778 units Buses and coaches: 1,000 units Buses and coaches: 837 units Engines: 2,925 units Engines: 2,719 units Engines: 220 units Services: SEK 2,584 m. Services: SEK 11,802 m. Services: SEK 1,134 m. * Refers to Latin America. 2 SCANIA 2013 SCANIA IN BRIEF R&D operations are located in Söder tälje, Sweden, with some 3,400 employees. Our aim is to develop high-quality products and solutions for the specific customer demand with short lead times. About 17,600 employees work with sales and services. Our network and LULEÅ mobile service solutions enable us SÖDERTÄLJE to be close to the customer in order to support them on location of their OSKARSHAMN ST. PETERSBURG operations. SŁUPSK MEPPEL ZWOLLE ANGERS Some 740 employees work with BUSAN Fin ancial Services, supporting cus- tomers in many markets worldwide. TAIPEI DUBAI BENGALUREBENGALURU KUALA LUMPUR SALES AND SERVICES About 12,800 work at production units in six countries in Europe REGIONAL PRODUCT CENTRES and Latin America. The modular PRODUCTION UNITS product system and the global interchange of both components RESEARCH AND DEVELOPMENT TUCUMÁN SÃO PAULO JOHANNESBURG and vehicles create flexibility. With parts supply facilities, located We strengthen our position in emerging markets in Opglabbeek, Belgium, Singapore and through Regional Product Centres located in Vinhedo, Brazil, we are able to be closer seven emerging markets, with about 700 employees. to our customers and thereby improve These work with assembly, bodywork, and fitting out their vehicle uptime. locally adapted vehicles. EURASIA ASIA TOTAL SALES AND DELIVERIES Trucks: 6,260 units Trucks: 7,400 units Trucks: 73,611 units Buses and coaches: 850 units Buses and coaches: 1,388 units Buses and coaches: 6,853 units Engines: 134 units Engines: 785 units Engines: 6,783 units Services: SEK 673 m. Services: SEK 1,317 m. Services: SEK 17,510 m. SCANIA 2013 3 SCANIA IN BRIEF OVERVIEW OF 2013 In 2013, Scania made good progress on delivering solutions that both enhance our customers’ profitability and ensure our long-term growth as a sustainable transport leader. Financial performance in 2013 was positively affected by record volumes of vehicles and services, whereas currency rate effects pulled down earnings. ■ Operating income for 2013 rose to SEK 8,455 m with an operating margin of 9.7 percent (10.4). ■ Vehicle sales volume increased by 19 percent compared to 2012. In Europe, customers investing in Euro 5 vehicles ahead of the transition to the