Scania Posts Drop In Q1 Net Profit

Scania AB

reported a decline in its first-quarter net profit. Scania's quarterly net profit dropped to SEK1.79 billion, versus SEK2.51 billion, in the year-ago period. Its operating income declined to SEK2.32 billion, from SEK3.34 billion. Scania's net sales fell 3% to SEK20.1 billion, from SEK20.7 billion. Scania's total order bookings declined 19% to SEK15.81 billion, from SEK19.46 billion. However, total deliveries dropped 15% to SEK16.24 billion, from SEK19.07 billion.