Scania Annual Report 2011

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58 Annual General Meeting and Financial Information Annual General Meeting The Annual General Meeting of Shareholders (AGM) will be held at 14.00 CET (2 p.m.) on Friday, 4 May 2012 in Scaniarinken, AXA Sports Center, Södertälje, Sweden. Participation Shareholders who wish to participate in the AGM must be recorded in the shareholder list maintained by Euroclear Sweden AB no later than Friday, 27 April 2012. They must also register with the company by post at Scania AB, AGM, Box 7832, SE-103 98 Stockholm, Swede n or by telephone at +46 8 402 90 55, or via Scania’s website www.scania.com no later than 16.00 CET (4 p.m.) on Friday, 27 April 2012. Nominee shares To be entitled to participate in the AGM, shareholders whose shares have been registered in the name of a nominee through the trust department of a bank or brokerage house must temporarily reregister their shares in their own name with Euroclear Sweden AB. Shareholders who wish to reregister their shares in this way must inform their nominees accordingly in sufficient time before Friday, 27 April 2012. Dividend The Board of Directors proposes Wednesday, 9 May 2012 as the record date for the annual dividend. The last day for tradin g shares that include the dividend is Friday, 4 May 2012. Provided that the AGM approves this proposal, the dividend can be expected to be sent on Monday, 14 May 2012. Calendar Interim Report, January − March, on 24 April 2012 Interim Report, January − June, on 20 July 2012 Interim Report, January − September, on 22 October 2012 Annual Report and financial information Scania shareholders are the main target group for the Annua l Report, which is sent to those who have ordered it. All new shareholders receive a letter welcoming them to Scania’s shareholder services, where they may order the information they want, in the format and quantity they wish. They may subscribe to the Interim Reports, the Annual Reports, the shareholder magazine Scania Value, invitations to the Annual General Meeting and press releases via e-mail, order printed 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 and have them sent. Financial information is available in Swedish and English and may be ordered from Scania AB, Investor Relations, SE-151 87 Södertälje, Sweden, telephone +46 8 553 810 00, or at www.scania.com/shareholder www.scania.com/subscribe www.scania.com/printedmaterial Website On Scania’s website, www.scania.com, it is easy to follow events at the company during the year, monitor Scania’s share price and compare its performance with that of competitors, as well as see the latest transactions, share price history, dividend history and other share data. Share holders can also calculate the return on their own holdings. The website also provides historical financial data, truck registration statistics, key financial ratios and much more. Report of the directors Scania 2011
Risks and risk management 59 Risks and risk management at Scania Risks are a natural element of business operations and entrepreneurship. Part of the day-to-day work of Scania is to manage risks, to prevent risks from harming the company and to limit the damage that may arise. Scania is one of the leading companies in the heavy vehicle industry. This leads to high expectations from all stakeholders, especially customers, about Scania as a company and its products and services. It is important to monitor and minimise events and behaviour that might adversely affect the company’s brand and reputation. Scania’s strong corporate culture is based on established values, principles and methods and is the foundation of the company’s risk management work. Scania’s Board of Directors is responsible to the shareholders for the company’s risk management. The company continuously reports on risk-related matters to the Board and the Audit Committee of the Board. STRATEGIC RISKS Corporate governance- and policy-related risks The Executive Board carries the main responsibility for managing corporate governance- and policy-related risks. All units of the company work according to a management system that meets Scania’s requirements, guidelines and policies and is well documented. Rapid dissemination of appropriate information is safeguarded via the company’s management structures and processes. Management systems are continuously being improved, among other things by means of regular reviews, performed both internally and by third parties. For a more detailed description of Scania’s management structure, see the section entitled “The management of the company” in the Corporate Governance Report on page 67. Business development risks Risks associated with business development and long-term planning are managed primarily through Scania’s crossfunctional (interdepartmental) meeting structure for decision making of a strategic and tactical nature, as well as Scania’s established yearly process for strategic planning. Such planning is discussed and questioned throughout the company, based on external and internal deliberations. All units and levels of the company are involved in the strategic process. Both the cross-functional meeting structure and the strategic process are long-established and are evolving continuously. Risks of overlooking threats and opportunities, of sub-optimising operations in the company and of making the wrong decisions are thereby minimised, while the risk of uncertainty and lack of clarity concerning the company’s strategy and business development is managed in a systematic way. Research and development projects are revised continuously on the basis of each project’s technological and commercial relevance. OPERATIONAL RISKS Market risks The demand for heavy trucks, buses and engines is affected by economic cycles and is thus subject to fluctuations. With regard to truck sales, in historical terms it is also possible to discern a cyclical pattern. In addition, truck sales undergo more temporary variations around their long-term growth trend. Countries and regions may suffer economic or political problems that adversely affect the demand for heavy vehicles. Fluctuations in world financial markets have a large or small impact on real economic cycles and thus on the demand for Scania’s products. Markets may temporarily stall, and local currencies may depreciate. A well-diversified market structure limits the effect of a downturn in any given market. In individual markets, substantial changes may occur in the business environment, such as the introduction or raising of customs duties and taxes, introduction or cessation of stimulus measures as well as changed requirements for vehicle specifications. Impositions of sanctions against certain countries may reduce the potential for marketing Scania’s products. In addition, shortcomings in national legal systems may substantially impair Scania’s ability to carry out operations and sales. Scania monitors all its markets continuously in order to spot warning signals early and be able to take action and implement changes in its marketing strategy. Risks in the sales and services network Repair and maintenance contracts comprise one important element of sales and services business and help to generate good capacity utilisation at workshops and greater customer loyalty. These contracts are often connected to predetermined prices. Thus both price and handling risks arise. One advanced form of business obligation is an uptime guarantee for a vehicle, in which the customer pays for the distance or time it is used. Scania works actively to improve the expertise and ability of its sales and Report of the directors Scania 2011
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ANNUAL REPORT 2011
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1 Operations 2-31 Statement of the
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SCANIA’S STRATEGY 3 Our solution
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The world of Scania Scania is a glo
Page 9 and 10: scania’s strategY 7 Scania’s st
Page 11 and 12: SCANIA’S STRATEGY 9 The change in
Page 13 and 14: SCANIA’S STRATEGY 11 The aluminiu
Page 15 and 16: SCANIA’S STRATEGY 13 Profitable b
Page 17 and 18: SCANIA’S STRATEGY 15 Component mo
Page 19 and 20: SCANIA’S STRATEGY 17 Methods for
Page 21 and 22: SCANIA’S STRATEGY 19 Scania is st
Page 23 and 24: market - TRUCKS 21 Effective overal
Page 25 and 26: 23 assembles the bodies for the Sca
Page 27 and 28: 100 years of innovation In 2011, Sc
Page 29 and 30: 27 Productivity and energy efficien
Page 31 and 32: SCANIA’S STRATEGY 29 service tech
Page 33: SCANIA’S STRATEGY 31 Experience s
Page 36 and 37: 34 MARKET Lastbilar nettoomsättnin
Page 38 and 39: 36 production
Page 40 and 41: 38 production Greater flexibility w
Page 42 and 43: 40 RESEARCH AND DEVELOPMENT
Page 44 and 45: 42 RESEARCH AND DEVELOPMENT Scania
Page 46 and 47: 44 SCANIA’S SUSTAINABILITY WORK R
Page 48 and 49: 46 SCANIA’S SUSTAINABILITY WORK K
Page 50 and 51: 48 SCANIA’S SUSTAINABILITY WORK S
Page 52 and 53: 50 SCANIA’S SUSTAINABILITY WORK S
Page 54 and 55: 52 SCANIA’S SUSTAINABILITY WORK C
Page 56 and 57: 54 SCANIA’S SUSTAINABILITY WORK M
Page 58 and 59: 56 Scania share data Scania share d
Page 62 and 63: 60 Risks and risk management servic
Page 64 and 65: 62 Risks and risk management Produc
Page 66 and 67: 64 CORPORATE GOVERNANCE REPORT owne
Page 68 and 69: 66 CORPORATE GOVERNANCE REPORT The
Page 70 and 71: 68 CORPORATE GOVERNANCE REPORT by t
Page 72 and 73: 70 BOARD OF DIRECTORS Board of Dire
Page 74 and 75: 72 EXECUTIVE BOARD AND CORPORATE UN
Page 76 and 77: financial reports Amounts in tables
Page 78 and 79: 76 group financial review Group fin
Page 80 and 81: 78 group financial review During 20
Page 82 and 83: 80 consolidated income statements C
Page 84 and 85: 82 consolidated balance sheets Cons
Page 86 and 87: 84 Consolidated statement of change
Page 88 and 89: 86 notes to the consolidated financ
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108 notes to the consolidated finan
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138 parent company financial statem
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140 notes to the parent company fin
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142 proposed guidelines for salary
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144 audit report Audit Report TRANS
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146 quarterly data Quarterly data,
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148 key financial ratios and figure
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150 multi-year statistical review M
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152 The Annual Report contains forw
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Scania AB (publ), SE-151 87 Södert
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Scania Annual Report 2011

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