- Operating income fell to SEK 2,473 m. (12,512) and earnings per share fell to SEK 1.41 (11.11)
- Net sales decreased by 30 percent to SEK 62,074 m. (88,977)
- Cash flow amounted to SEK 5,512 m. (1,774) in Vehicles and Services
- The Board of Directors proposes a dividend of SEK 1.00 (2.50) per share

Comments by Leif Östling, President and CEO
“Despite the 41 percent downturn in deliveries and the sizeable increase in credit losses in customer finance, Scania reported positive operating income of SEK 2,473 m. for the full year, due to more stable service revenue and the cost reductions that were carried out. A total of 3,900 employees have left the
Group since September 2008, and the largest cutbacks have been implemented at production units. The Group introduced reduced working hours in a number of European countries. Cash flow in Vehicles and Services was favourably affected by a decrease in working capital and totalled SEK 5,512 m. Together with
the reduced Financial Services portfolio, this lowered the Group’s net debt by SEK 10.3 billion. Scania launched several new products during 2009. The new R-series, featuring better fuel economy and an improved driver environment, will ensure Scania’s leading position in the important long-haulage truck
segment and it was awarded the prestigious “International Truck of the Year” trophy. The new coach model, the Scania Touring, is a major step in Scania’s strategy of increasing the degree of industrialisation and expanding its service range related to complete buses and coaches. In the Engines business area, Scania’s new generation of engines has laid the groundwork for an agreement on engine deliveries to Terex, a leading US-based manufacturer of construction and industrial equipment. The agreement is a key
element in Scania’s strategy of increasing its sales to original equipment manufacturers (OEMs). In the truck market the fall in demand has flattened out at a low level, and Scania is continuing to adjust its capacity, costs and capital spending. Given its strengthened product portfolio, together with large-scale cost savings and investments in employee training, Scania is well positioned for profitability and growth.”

Full year Change, % Q4 Change, %
Trucks and buses
Units 2009 2008 2009 2008
– Order bookings 38,802 51,034 -24 13,884 2,423 -
– Deliveries 43,443 73,793 -41 13,753 17,975 -23
Net sales and earnings SEK m. (unless otherwise stated)
EUR m.*
Net sales, Scania Group 5,998 62,074 88,977 -30 18,360 22,658 -19
Operating income, Vehicles and Services 256 2,648 12,098 -78 1,524 2,009 -24
Operating income, Financial Services -17 -175 414 - -93 48 -
Operating income 239 2,473 12,512 -80 1,431 2,057 -30
Income before taxes 155 1,602 11,978 -87 1,236 1,708 -28
Net income for the period 109 1,129 8,890 -87 822 1,521 -46
Operating margin, percent 4.0 14.1 7.8 9.1
Return on equity, percent 5.1 38.3
Return on capital employed, Vehicles and
Services, percent 9.4 43.1
Earnings per share, SEK 1.41 11.11 1.03 1.90
Cash flow, Vehicles and Services 533 5,512 1,774 2,495 -1,864
Number of shares: 800 million
* Translated to EUR solely for the convenience of the reader at a balance sheet date exchange rate of SEK 10.35 = EUR 1.00.

Unless otherwise stated, all comparisons refer to the corresponding period of the preceding year.
This report has not been reviewed by the company’s auditors. The report is also available on www.scania.com

Material changes in ownership
In January 2009, Porsche Automobil Holding SE announced that the company had increased its holding to 50.8 percent in Volkswagen AG, which meant that Porsche indirectly controlled Scania. In compliance with Swedish law, Porsche therefore presented a mandatory offer for Scania of SEK 68.52 in cash for each
Series A share and SEK 67.10 in cash for each Series B share. Scania’s Board of Directors recommended to shareholders not to accept Porsche’s mandatory offer. Shareholders equivalent to 7.93 percent of share capital and 2.34 percent of voting power accepted the offer, and Porsche sold these shares onward to Volkswagen. Volkswagen’s holding in Scania, including shares managed by credit institutions, thereby amounted to 49.29 percent of share capital and 71.81 percent of voting power.

Dividend
Scania’s Annual General Meeting on Thursday, 7 May 2009 approved a dividend of SEK 2.50 per share for 2008. A total of SEK 2,000 m. was transferred to the shareholders.

Annual General Meeting and proposed dividend
Scania’s Annual General Meeting will be held on Thursday, 6 May 2010 at Scaniarinken, AXA Sports Center, in Södertälje, Sweden. The dividend proposed by the Board of Directors for 2009 is SEK 1.00 (2.50) per share with May 11 as the record date.