Scania AB reported a notable rebound in Q3 2023, recording a net income of SEK 3.933 billion, a significant improvement from a previous loss of SEK 3.614 billion. This turnaround was driven by heightened demand and increased revenue. The company’s net income from continuing operations soared to SEK 3.884 billion from SEK 695 million last year, while operating earnings doubled from the previous year to hit SEK 5.207 billion. Despite a slight dip in deliveries to 21,293 vehicles from 21,550 last year, the order intake remained strong at 23,083.
Net sales rose to SEK 47.372 billion from SEK 39.806 billion in the previous year. The company also reported an improved adjusted operating margin of 11.5 percent. Scania AB managed to turn a profit of SEK 49 million from discontinued operations, marking a recovery from a loss of SEK 4.309 billion last year.
In other corporate earnings news, Rejlers AB's Q3 report revealed a net sales increase of 16.4% to SEK 906.0 million and an organic growth of 3.4%. However, the EBITA margin dropped to 6.1%, affected by one less working day this year and project impairments related to the Eurocon acquisition.
Alfa Laval AB also reported positive results for Q3 2023 with an increase in order intake by 12% to SEK 17B, net sales by 20% to SEK 15.8B, and adjusted EBITA by 36% to SEK 2.6B with a margin of 16.7%. Net income stood at SEK 1,781 million and cash flow from operations rose to SEK 2.9B. The company expects Q4 demand in their end markets to remain consistent with Q3 despite lower seasonality and economic slowdown.
Meanwhile, Coor saw a rise in net sales to SEK 3,016 million from SEK 2,766 million in Q3 of 2023 due to organic growth, acquisitions, and exchange rate effects. However, the operating margin dipped from 4.4% to 4.2%. CEO AnnaCarin Grandin announced an action program aimed at boosting profitability.
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