Scania Annual Report 2011

150 multi-year statistical review
Multi-year statistical review
According to IFRSs 1
According to
Swedish GAAP
SEK m. unless otherwise stated 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002
Delivery value by market area
Europe 47,747 41,533 37,988 60,360 59,553 53,117 47,712 43,384 41,198 38,525
Eurasia 6,084 2,413 1,449 5,267 5,126 2,534 1,731 1,339 1,121 741
America 2 20,912 21,725 11,812 12,822 10,573 8,420 7,575 5,655 3,836 3,542
Asia 10,182 9,035 6,097 6,665 5,699 4,603 4,137 3,997 3,936 3,123
Africa and Oceania 5,360 5,403 5,243 4,364 4,511 3,953 3,943 3,404 2,896 2,529
Adjustment for lease income 3 –2,599 –1,941 –515 –501 –976 – 1,889 – 1,770 – 991 – 2,406 – 1,175
Total 87,686 78,168 62,074 88,977 84,486 70,738 63,328 56,788 50,581 47,285
Operating income
Vehicles and Services 11,881 12,575 2,648 12,098 11,632 8,260 6,330 6,149 4,759 3,548
Financial Services 517 171 –175 414 532 493 529 450 366 308
Divested car operations 4 – – – – – – – – – 550
Total 12,398 12,746 2,473 12,512 12,164 8,753 6,859 6,599 5,125 4,406
Operating margin, %
Vehicles and Services 13.5 16.1 4.3 13.6 13.8 11.7 10.0 10.8 9.4 7.5
Total 5 14.1 16.3 4.0 14.1 14.4 12.4 10.8 11.6 10.1 9.3
Net financial items 214 –213 –871 –534 –258 – 170 – 94 – 323 – 521 – 684
Net income 9,422 9,103 1,129 8,890 8,554 5,939 4,665 4,316 3,034 2,739
Specification of research
and development expenses
Expenditures –4,658 –3,688 –3,234 –3,955 –3,214 – 2,842 – 2,479 – 2,219 – 2,151 – 2,010
Capitalisation 387 351 282 202 289 180 278 316 660 573
Amortisation –169 –168 –264 –475 –418 – 361 – 283 – 84 – 2 –
Research and development
expenses –4,440 –3,505 –3,216 –4,228 –3,343 – 3,023 – 2,484 – 1,987 – 1,493 – 1,437
Net investments through acquisitions/
divestments of businesses –44 56 118 –61 268 – 205 49 26 – 1,165
Net investments in non-current assets 3,776 2,753 3,031 5,447 4,277 3,810 3,597 2,798 3,285 2,921
Portfolio, Financial Services operations 42,235 36,137 40,404 47,220 38,314 31,841 29,634 26,601 25,926 25,303
Cash flow, Vehicles and Services 6,970 11,880 5,512 1,774 8,229 6,942 3,865 2,685 2,450 3,583
Inventory turnover rate, times 6 6.1 6.4 4.5 6.5 7.5 6.9 6.0 6.0 5.8 6.1
1 Financial reporting is in compliance with International Financial Reporting Standards (IFRSs)
beginning with 2004. The main differences compared to the previous accounting principles
are: a) that goodwill is no longer amortised according to a schedule, b) that depreciation
periods for tangible non-current assets have changed on the basis of component depreciation,
which has decreased accumulated depreciation, c) that decreased depreciation on tangible
non-current assets has affected taxes accordingly, d) that actuarial gains/losses related to
pensions are recognised directly in equity and e) that tax related to associated companies is
included in operating income.
2 Refers mainly to Latin America.
3 Refers to the difference between revenue recognised as income and sales value based
on deliveries. This difference arises when a lease or sale, combined with a residual value
guarantee or a repurchase obligation, is recognised as an operating lease, on the assumption
that significant risks remain. See also Note 4.
4 Swedish car operations were divested as per 1 January 2002.
5 Includes Financial Services.
6 Calculated as net sales divided by average inventory (adjusted for divested car operations).
financial reports Scania 2011