SCANIA INTERIM REPORT – JANUARY - MARCH 2002 “In western ...

22 April, 2002
SCANIA INTERIM REPORT – JANUARY - MARCH 2002
“In western Europe the slowdown in demand flattened out, at least
temporarily. Cost adjustments in European operations and action
programmes in Latin America are continuing,” says Leif Östling,
President and CEO.
FIRST QUARTER IN BRIEF
First quarter
Units USD m.* 2002 2001
Trucks and buses
Change in
%
– Order bookings 12,735 12,569 1
– Deliveries 10,040 11,727 -14
Sales and earnings 1
SEK m. unless otherwise stated
Sales 1,208 12,487 12,405 1
Operating income 74 770 952 -19
Income after financial items 54 564 819 -31
Net income 37 383 573 -33
Operating margin,
Scania Group, percent 6.2 7.7
Operating margin,
Scania products 2 , percent
6.6 8.5
Return on equity, percent 5.4 20.2
Return on capital employed, excluding
customer finance operations, percent 7.9 18.6
Earnings per share, SEK 0.19 1.92 2.87
Cash flow excluding customer finance
operations and acquisitions
13 130 571
Number of employees, 31 March 28,619 28,770
Number of shares: 200 million
Unless otherwise stated, all comparisons in brackets refer to the same period of last year.
This report is also available at www.scania.com
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
1 Excluding capital gains on the divestment of Svenska Volkswagen AB and Din Bil AB. See page 5 for more information.
2
Trucks, buses, engines and service-related products.
1

SCANIA INTERIM REPORT - JANUARY – MARCH 2002
SCANIA, FIRST QUARTER OF 2002 – COMMENTS BY THE PRESIDENT AND CEO
“The operating income of the Scania Group during the first quarter of 2002 was SEK 770 m.
Operating income for Scania products totalled SEK 724 m. Truck deliveries declined by 13 percent in
western Europe, while sales of service-related products in European operations rose by 9 percent.
Earnings in customer finance operations continued to increase,” Leif Östling notes.
“Macroeconomic forecasts for western Europe have recently become more favourable, although a
number of potential threats remain. The slowdown in demand for heavy trucks in western Europe
recently appears to have flattened out, at a higher level than I had anticipated. It is still too early to
predict whether this is a lasting trend.
“Order bookings rose during the first quarter, and the pace of production will increase in European
operations. Scania’s market share rose during the quarter to 14.9 percent in western Europe.
“Productivity improvements in the European production system are continuing, following the
departure of about 1,200 persons from the company since the market turned downward late in 2000.
Cab production is being concentrated at Oskarshamn, Sweden as the new topcoat paintshop and
investments for higher production volume are placed in service. The co-ordination between buses
and trucks will also lead to productivity improvements. These ventures will decrease the workforce by
about another 600 persons. The measures will have a gradual effect during the latter part of the year.
“Order bookings in bus operations increased. The co-ordination between trucks and buses in
European operations is continuing as planned.
“Volume declined in Latin America. In practice, the Argentinean market disappeared as a
consequence of economic and political chaos. At the same time, our volume declined in Brazil
mainly as a consequence of the price hikes we are implementing in order to bring truck prices to a
world market level. The improvement in prices, along with the lowering of the cost level, has begun to
have an effect. At the same time, exports of components from Latin America to the European
production system will increase.
“We sold our 50 percent holding in the Swedish importer operations of Svenska Volkswagen and the
dealership chain Dil Bil to Volkswagen AG of Germany. On behalf of Scania’s Board of Directors,
ABN-Amro Bank reviewed both transactions and issued financial fairness opinions. The main reason
behind these divestments is the increasingly rapid divergence in operations, with trucks as
investment products and cars as consumer goods. As soon as the relevant authorities have
approved these divestments, the item ‘Car operations’ will disappear from Scania Group financial
statements. The overall capital gain on the divestments is estimated at around SEK 550 m.
“The co-operation agreement we have now entered with the Japanese truck manufacturer Hino will
give us the opportunity to get a foot into the Japanese market in a cost-effective way. In the long
term, there is good development potential in the agreement, since Hino and Scania complement
each other both in terms of product range and geographic presence.
“In western Europe the slowdown in demand flattened out, at least temporarily. Cost adjustments in
European operations and action programmes in Latin America are continuing,” Mr Östling concludes.
2

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
SCANIA INTERIM REPORT - JANUARY - MARCH 2002
THE MARKET
In western Europe, the slowdown in demand
flattened out during the first quarter. Measured as
registrations, the total market for heavy trucks was
about 52,400 (64,400) units. Scania’s market
share rose to 14.9 (14.5) percent. Order bookings
rose by 5 percent to 8,254 (7,882) units.
In central and eastern Europe, economic growth
continued, which led to an increase in order
bookings in these markets.
In Latin America, order bookings declined by 60
percent compared to the same period of last year.
In Argentina the decline was due to the political
and economic crisis in the country. In Brazil it was
mainly due to the sharp price hike Scania carried
out at the turn of the year. Scania’s market share
in Brazil declined to 17.6 (29.1) percent.
Order bookings for buses and coaches rose by 35
percent to 1,375 (1,015) units. In Europe, order
bookings rose by 70 percent, while they declined
by 5 percent in Latin America.
Scania’s sales of industrial and marine engines
fell during the first quarter to 643 (760) units.
Number of Scania truck registrations,
January-March
2002 2001
Change
in %
Great Britain 1,366 1,329 2.8
France 1,188 1,488 -20.2
Germany* 957 1,099 -12.9
Italy 867 977 -11.3
Spain 846 900 -6.0
Brazil 703 1,288 -45.4
The Netherlands 575 830 -30.7
Belgium 374 521 -28.2
Sweden 364 421 -13.5
South Korea 339 267 27.0
Western Europe 7,826 9,349 -16.3
Scania’s market shares,
January-March, percent
2002 2001
Great Britain 20.3 18.3
France 10.6 10.8
Germany* 9.0 8.0
Italy 15.3 14.7
Spain 14.1 12.8
Brazil 17.6 29.1
The Netherlands 18.2 20.0
Belgium 18.6 19.2
Sweden 48.2 43.7
South Korea 12.9 16,3
Western Europe 14.9 14.5
* Preliminary figures
3

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
SALES (SEK m.)
SALES
During the first quarter, the Scania Group’s
deliveries of trucks totalled 9,132 (10,893)
units, which was a decline of 16 percent. Bus
and coach deliveries totalled 908 (834) units,
an increase of 9 percent.
The Scania Group’s sales rose by 1 percent to
SEK 12,487 m. (12,405). Group sales were
positively influenced by net currency rate
effects of about SEK 500 m., including
hedging.
16,000
14,000
12,000
10,000
8,000
6,000
4,000
2,000
0
Q 1 Q 2 Q 3 Q 4
OPERATING INCOME (SEK m.)
2000
2001
2002
Sales of service-related products rose by 9
percent to SEK 2,681 m. (2,465).
2,500
2,000
EARNINGS
The Scania Group’s operating income
amounted to SEK 770 m. (952), equivalent to a
margin of 6.2 (7.7) percent. The operating
margin for Scania products amounted to 6.6
(8.5) percent. Capitalisation of research and
development expenses positively affected the
EBIT-margin with approximately 0.8
percentage points compared to last year.
1,500
1,000
500
0
Q 1 Q 2 Q 3 Q 4
2000
2001
2002
Operating income for European operations 3 amounted to SEK 1,247 m. (1,520), excluding research
and development expenses as well as corporate costs. Compared to last year, earnings were
favourably influenced by:
• Positive net currency rate effects, including hedging, of about SEK 350 m.
• Somewhat higher average revenue per truck.
Earnings were adversely influenced by:
• Lower volume, including lower capacity utilisation.
• Production changeover expenses of about SEK 100 m.
Operating income in Latin American operations amounted to SEK -58 m. (-36). In practice, the
market in Argentina disappeared due to economic and political chaos. In Brazil, volume fell mainly as a
consequence of price hikes that Scania carried out in order to achieve a reasonable world market price.
The price hikes carried out in Brazil, cost savings in both Brazil and Argentina plus an improved
currency rate situation could not fully offset lower volume.
Research and development expenses for the Group amounted to SEK 392 m. (485). Aside from the
year’s expense of SEK 392 m., SEK 105 m. was capitalised in compliance with Recommendation RR
15 of the Swedish Financial Accounting Standards Council.
Earnings in customer finance operations rose to SEK 81 m. (70). The growth in the customer finance
portfolio ceased due to lower vehicle sales in the first quarter, and the portfolio amounted to SEK 24,447
m. (22,761).
3 European operations are the portion of Scania’s operations that, in principle, supply all markets except Latin American
ones with the company’s products, services and financing.
4

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Operating income in car operations 4 rose to SEK 46 m. (9) due to higher volume as well as somewhat
improved margins. Scania and Volkswagen AG of Germany reached an agreement to the effect that
Volkswagen will acquire Scania’s fifty percent holding in Svenska Volkswagen AB plus the Swedish car
distributor Din Bil AB. The purchase prices are SEK 870 m. and SEK 450 m., respectively, and are
expected to result in capital gains of about SEK 250 m. and about SEK 300 m., respectively. These
gains will be reported as soon as the relevant competition authority has granted its approval, minus the
earnings reported during the first quarter.
Net financial items totalled SEK -206 m. (-133). The reason for the lower net financial items is that
last year’s net financial items included an exchange gain on loans in local currencies in Latin
America.
The Scania Group’s tax expenses were equivalent to 31.9 (30.1) percent of income after financial
items. The increase was explained by changes in the geographic distribution of earnings.
CASH FLOW
Scania’s cash flow, excluding customer finance operations and acquisitions, amounted to
SEK 130 m. (571).
Cash from operating activities amounted to SEK 960 m.
Tied-up working capital rose by SEK 341 m., mainly due to an increase in inventories, which was
partially offset by increased operating liabilities.
Net investments excluding acquisitions/divestments of businesses totalled SEK -489 m. (-419),
including capitalisation of SEK 105 m. of Scania Group’s research and development expenses. Net
investments through acquisitions/divestments of businesses amounted to SEK -129 m. (-859).
MISCELLANEOUS
Number of employees
The total number of employees at the close of the first quarter was 28,619, compared to 28,342 at yearend
2001. The net effect of acquisitions/divestments resulted in an increase of 271 persons.
Changes in accounting principles
Beginning with the first quarter of 2002, Scania is applying recommendation RR 15 of the Swedish
Financial Accounting Standards Council, related to intangible assets. This means that a certain portion
of Scania’s Group-wide research and development expenditures will be recognised as assets and
amortised over its estimated useful life.
Södertälje, 22 April 2002
LEIF ÖSTLING
President and CEO
This Interim report has not been subjected to special review by the company’s auditors.
5

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
4
Car operations include half the importer operations of the Svenska Volkswagen Group in Sweden; the wholly
owned Swedish car dealership network Din Bil; and car dealership networks in Finland and Switzerland.
Financial information from Scania
Scania’s Interim Report for January-June 2002 will be published on 19 July 2002.
This report contains forward-looking statements that reflect management’s current views with respect to certain
future events and potential financial performance. Such forward-looking statements involve risks and
uncertainties that could significantly alter potential results. These statements are based on certain assumptions,
including assumptions related to general economic and financial conditions in the company’s markets and the
level of demand for the company’s products.
This report does not imply that the company has undertaken to revise these forward-looking statements, beyond
what is required under the company’s registration contract with Stockholmsbörsen (formerly the OM Stockholm
Stock Exchange) if and when circumstances arise that will lead to changes compared to the date when these
statements were provided.
For further information, please contact:
Magnus Hahn, Business Communications tel. +46-8 5538 3510,
mobile tel. +46-70 551 7903
Joanna Daugaard, Investor Relations tel. +46-8 5538 3716,
mobile tel. +46-70 518 3716
Torbjörn Boije, Corporate Control tel. +46 8 5538 2228
mobile tel. +46-70 591 5016
6

Earnings by area of operations
SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Amounts in SEK m.
First quarter Change
Apr 01-
unless otherwise stated USD m.* 2002 2001 in % 2001 Mar 02
Number of trucks and buses
delivered
European operations 8,961 9,933 -10 40,626 39,654
Latin American operations 1,079 1,794 -40 7,705 6,990
Total Scania vehicles delivered 10,040 11,727 -14 48,331 46,644
Sales
European operations 980 10,127 10,101 0 42,496 42,522
Latin American operations 108 1,114 1,260 -12 5,806 5,660
Less intra-Group sales -19 -194 -279 -30 -1,089 -1,004
Total Scania products 1,069 11,047 11,082 0 47,213 47,178
Car operations 5 139 1,440 1,323 9 5,852 5,969
Scania Group total 1,208 12,487 12,405 1 53,065 53,147
Operating income
European operations 121 1,247 1,520 -18 5,031 4,758
Latin American operations -6 -58 -36 61 -581 -603
Customer finance operations 8 81 70 16 278 289
Research and development expenses -38 -392 -485 -19 -1,955 -1,862
Corporate costs -15 -154 -126 22 -417 -445
Total Scania products 70 724 943 -23 2,356 2,137
Car operations 6 4 46 9 111 148
Scania Group total 74 770 952 -19 2,467 2,285
Operating margin in percent
European operations 12.3 15.0 11.8 11.2
Latin American operations -5.2 -2.9 -10.0 -10.7
Total Scania products 6.6 8.5 5.0 4.5
Car operations 3.2 0.7 1.9 2.5
Scania Group total 6.2 7.7 4.6 4.3
5 Sales include the wholly owned portion of the Swedish dealership network for Svenska Volkswagen products, Din Bil,
plus a car dealership network in Finland and Switzerland. Sales of Svenska Volkswagen products totalled SEK 1,146
m.
6 Aside from wholly-owned businesses, this included operating income from the half-owned importing business Svenska
Volkswagen Group.
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
7

Sales by product category
SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Amounts in SEK m.
First quarter Change
Apr 01-
unless otherwise stated USD m.* 2002 2001 in % 2001 Mar 02
Trucks 611 6,313 7,134 -12 29,139 28,318
Buses 102 1,051 850 24 4,701 4,902
Engines 10 99 104 -5 608 603
Service-related products 259 2,681 2,465 9 10,279 10,495
Used vehicles etc. 104 1,078 901 20 4,370 4,547
Revenue deferral -17 -175 -372 -1,884 -1,687
Total Scania products 1,069 11,047 11,082 0 47,213 47,178
Car operations 139 1,440 1,323 9 5,852 5,969
Total 1,208 12,487 12,405 1 53,065 53,147
7
Refers to the difference between sales recognised as revenues and sales value based on deliveries.
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
8

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Income statement
Amounts in SEK m.
First quarter Change
Apr 01-
unless otherwise stated USD m.* 2002 2001 in % 2001 Mar 02
Sales 9 1,208 12,487 12,405 1 53,065 53,147
Cost of goods sold -953 -9,855 -9,588 3 -42,601 -42,868
Gross income 9 255 2,632 2,817 -7 10,464 10,279
Research and development
expenses -38 -392 -485 -19 -1,955 -1,862
Selling expenses 9,10 -132 -1,368 -1,256 9 -5,594 -5,706
Administrative expenses 11 -23 -229 -200 15 -785 -814
Income from customer finance
operations 8 81 70 16 278 289
Share of income of associated
companies 4 46 6 59 99
Operating income 8, 9 74 770 952 -19 2,467 2,285
Financial revenues and
expenses -20 -206 -133 -926 -999
Income after financial items 54 564 819 -31 1,541 1,286
Taxes -17 -180 -246 -27 -496 -430
Minority interests 0 -1 0 3 2
Net income 37 383 573 -33 1,048 858
Number of shares: 200 million
Operating margin, percent 6.2 7.7 4.6
Return on equity, percent 5.4 20.2 6.5
Return on capital employed,
excluding customer finance
operations, percent 7.9 18.6 8.4
Return on capital employed,
percent 5.2 12.3 5.6
Earnings per share, SEK 1.92 2.87 5.24
8 Includes depreciation of -574 -530 -2,157
9 Acquired and divested companies increased “Sales” by SEK 29 m., decreased “Gross income” by SEK 17 m., and
increased “Selling expenses” by SEK 31 m. “Operating income” was negatively impacted by SEK 48 m.
10 Selling expenses: Defined as sales-related expenses, including goodwill amortisation, in commercial companies
and costs of central commercial-related resources.
11 Administrative expenses: Defined as Group-wide costs for management and for the staff units in European and
Latin American operations.
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
9

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Earnings by quarter
Amounts in SEK m.
2002 2001
unless otherwise stated USD m.* Q1 Full year Q4 Q3 Q2 Q1
Sales
European operations 980 10,127 42,496 12,304 9,182 10,909 10,101
Latin American operations 108 1,114 5,806 1,589 1,387 1,570 1,260
Less intra-Group sales -19 -194 -1,089 -259 -275 -276 -279
Total Scania products 1,069 11,047 47,213 13,634 10,294 12,203 11,082
Car operations 139 1,440 5,852 1,531 1,413 1,585 1,323
Scania Group total 1,208 12,487 53,065 15,165 11,707 13,788 12,405
Operating income
European operations 121 1,247 5,031 1,385 914 1,212 1,520
Latin American operations -6 -58 -581 -380 -118 -47 -36
Customer finance operations 8 81 278 55 81 72 70
Research and development expenses -38 -392 -1,955 -548 -401 -521 -485
Corporate costs -15 -154 -417 -80 -92 -119 -126
Total Scania products 70 724 2,356 432 384 597 943
Car operations 4 46 111 31 18 53 9
Scania Group total 74 770 2,467 463 402 650 952
Financial items -20 -206 -926 -446 -104 -243 -133
Income after financial items 54 564 1,541 17 298 407 819
Net income 37 383 1,048 11 199 265 573
Earnings per share, SEK 0.19 1.92 5.24 0.05 0.99 1.33 2.87
Operating margin, percent
European operations 12.3 11.8 11.3 10.0 11.1 15.0
Latin American operations -5.2 -10.0 -23.9 -8.5 -3.0 -2.9
Total Scania products 6.6 5.0 3.2 3.7 4.9 8.5
Car operations 3.2 1.9 2.0 1.3 3.3 0.7
Scania Group total 6.2 4.6 3.1 3.4 4.7 7.7
10

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
11

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Units by quarter
2002 2001
Q1 Full year Q4 Q3 Q2 Q1
Order bookings, trucks
Western Europe 8,254 30,158 8,046 6,105 8,125 7,882
Central and eastern Europe 836 2,825 713 731 770 611
Latin America 698 6,222 1,420 1,400 1,657 1,745
Asia 1,090 3,324 975 478 960 911
Other markets 482 1,388 367 225 391 405
Total 11,360 43,917 11,521 8,939 11,903 11,554
Trucks delivered
Western Europe 6,980 30,416 7,872 6,353 8,205 7,986
Central and eastern Europe 477 2,579 964 526 652 437
Latin America 786 6,181 1,507 1,354 1,811 1,509
Asia 638 2,994 972 607 771 644
Other markets 251 1,489 452 326 394 317
Total 9,132 43,659 11,767 9,166 11,833 10,893
Order bookings, buses
Europe 675 1,613 501 320 394 398
Latin America 359 1,522 143 356 645 378
Other markets 341 1,667 670 372 386 239
Total 1,375 4,802 1,314 1,048 1,425 1,015
Buses delivered
Europe 402 1,828 563 356 535 374
Latin America 294 1,595 378 508 424 285
Other markets 212 1,249 458 314 302 175
Total 908 4,672 1,399 1,178 1,261 834
12

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Balance sheet
With customer finance operations reported according to the equity accounting method
Amounts in SEK m.
2002 2001
unless otherwise stated USD m.* 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
ASSETS
Intangible fixed assets 150 1,549 1,364 1,267 1,083 1,199
Tangible fixed assets 2,388 24,689 25,695 26,265 25,803 25,043
Shares and participations 330 3,415 3,287 3,030 2,795 2,716
Inventories 808 8,352 7,880 8,660 8,844 9,225
Other receivables 1,038 10,729 11,016 11,865 12,298 11,612
Interest-bearing receivables 166 1,712 1,773 1,671 1,736 1,721
Liquid investments 362 3,743 3,931 2,828 3,222 2,882
Total assets 5,242 54,189 54,946 55,586 55,781 54,398
SHAREHOLDERS’ EQUITY
AND LIABILITIES
Shareholders’ equity 1,526 15,776 15,995 16,116 15,792 16,450
Provisions for pensions 210 2,174 2,087 2,010 1,937 1,921
Other provisions 338 3,488 3,670 3,329 3,364 3,182
Other liabilities 2,066 21,354 21,473 23,128 22,152 21,725
Borrowings 1,102 11,397 11,721 11,003 12,536 11,120
Total shareholders’ equity
and liabilities 5,242 54,189 54,946 55,586 55,781 54,398
Net indebtedness, excluding
provisions for pensions 740 7,654 7,790 8,175 9,314 8,238
Debt/equity ratio 0.49 0.49 0.51 0.59 0.50
Equity per share, SEK 7.63 78.88 79.98 80.58 78.96 82.25
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
13

Balance sheet
Customer finance operations
SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Amounts in SEK m.
2002 2001
unless otherwise stated USD m.* 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
ASSETS
Lease assets 866 8,948 9,894 10,146 9,865 9,644
Financial receivables 1,499 15,499 15,197 14,798 13,894 13,117
Other assets 65 675 987 670 739 516
Liquid investments 16 163 176 272 128 426
Total assets 2,446 25,285 26,254 25,886 24,626 23,703
SHAREHOLDERS’ EQUITY
AND LIABILITIES
Shareholders’ equity 255 2,635 2,492 2,260 2,064 1,967
Borrowings 1,997 20,643 21,691 21,596 20,487 20,078
Other liabilities and provisions 194 2,007 2,071 2,030 2,075 1,658
Total shareholders’ equity
and liabilities 2,446 25,285 26,254 25,886 24,626 23,703
Balance sheet
Including customer finance operations
Amounts in SEK m.
2002 2001
unless otherwise stated USD m.* 31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
ASSETS
Intangible fixed assets 150 1,549 1,364 1,267 1,083 1,199
Tangible fixed assets 2,391 24,716 25,714 26,290 25,828 25,058
Shares and participations 75 780 795 770 732 750
Inventories 816 8,431 7,946 8,719 8,902 9,319
Other receivables 1,067 11,031 11,544 12,008 12,272 11,685
Interest-bearing receivables 1,626 16,812 16,969 16,470 15,630 14,816
Liquid investments 378 3,906 4,107 3,100 3,350 3,307
Total assets 6,503 67,225 68,439 68,624 67,797 66,134
SHAREHOLDERS’ EQUITY
AND LIABILITIES
Shareholders’ equity 1,526 15,776 15,995 16,116 15,792 16,450
Provisions for pensions 211 2,179 2,092 2,014 1,941 1,922
Other provisions 422 4,366 4,575 4,137 4,124 3,892
Other liabilities 1,245 12,863 12,365 13,758 12,917 12,672
Borrowings 3,099 32,041 33,412 32,599 33,023 31,198
Total shareholders’ equity
and liabilities 6,503 67,225 68,439 68,624 67,797 66,134
Equity/assets ratio, % 23,5 23.4 23.5 23.3 24.9
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
14

SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Statement of changes in shareholders’ equity
Amounts in SEK m.
31 Mar
unless otherwise stated USD m.* 2002 2001
Shareholders’ equity, 1 January 1,547 15,995 15,698
Translation differences -58 -602 179
Net income for the period 37 383 573
Dividends to shareholders 0 0 0
Shareholders’ equity, 31 March 1,526 15,776 16,450
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
15

Statement of cash flow
SCANIA INTERIM REPORT - JANUARY- MARCH 2002
Amounts in SEK m.
2002 2001
unless otherwise stated USD m.* Q1 Q4 Q3 Q 2 Q1
Cash from operating activities 93 960 499 628 622 1,229
Change in working capital etc. -33 -341 636 1,127 371 -239
Cash flow from operating activities 60 619 1,135 1,755 993 990
Net investments excluding acquisitions/
divestments of companies -47 -489 -516 -464 -479 -419
Cash flow before acquisitions/divestments
of companies 13 130 619 1,291 514 571
Net investment through acquisitions/divestments
of companies -13 -129 -32 -11 -27 -859
Cash flow excluding customer
finance operations 0 1 587 1,280 487 -288
Expansion in customer finance operations 12 14 147 -767 -416 -503 -742
Change in net indebtedness including
customer finance operations 14 148 -180 864 -16 -1,030
Change in indebtedness through
financing activities -27 -281 1,219 -1,098 1,387 611
Dividend to shareholders 0 0 0 0 -1,400 0
Net change in liquid assets and short-term
investments -13 -133 1,039 -234 -29 -419
Effect of exchange rate fluctuations on liquid
assets and short-term investments -6 -68 -32 -16 72 145
Liquid assets and short-term investments at
beginning of period 397 4,107 3,100 3,350 3,307 3,581
Liquid assets and short-term investments at
end of period 378 3,906 4,107 3,100 3,350 3,307
12
Including allocated acquisition value of the customer finance operations of Beers.
* Translated solely for the convenience of the reader at a closing exchange rate of SEK 10.3375 = USD 1.00.
16

SCANIA YEAR-END REPORT - JANUARY- MARCH 2002
Number of employees
2002 2001
31 Mar 31 Dec 30 Sep 30 Jun 31 Mar
Production companies 13,715 13,321 13,587 13,698 13,963
Commercial companies 10,655 10,583 10,499 10,478 10,428
European operations 24,370 23,904 24,086 24,176 24,391
Latin American operations 4,014 4,199 4,269 4,246 4,160
Customer finance operations 235 239 235 230 219
Total number of employees 28,619 28,342 28,590 28,652 28,770
17