Scania annual report 2003

SCANIA 2
Scania in brief 2
Important events 2003 4
Important events 2004 6
Statement of the President and CEO 8
The work of the Board 10
Management structure 11
Goals and strategies 12
Brand 13
Employees 14
Scania’s role in society 16
CUSTOMERS AND PRODUCTS 18
Customers 18
Customers and products 20
Customers and service 22
Customers and financing 23
R&D AND PRODUCTION 24
Research and development 24
Development of testing methods 26
Development of a new truck 28
Production 30
The production system 32
MARKETS 34
Trends and industry developments 34
Europe 36
Other markets 40
ENVIRONMENT 44
Environmental work 44
Environment and economics 46
SCANIA SHARE DATA 48
FINANCIAL REPORT 50
Financial review 50
Income statement 53
Balance sheet 54
Statement of changes in
shareholders’ equity 55
Cash flow statement 55
Parent Company financial
statements 56
Accounting principles 57
Notes 59
Notes Parent Company 76
Proposed distribution of earnings 77
Auditors’ report 78
Quarterly data 80
Key financial ratios and definitions 81
Multi-year statistical review 82
BOARD AND MANAGEMENT 84
Board of Directors 84
Group Management 86
ADDRESSES 88
ANNUAL GENERAL MEETING
The Annual General Meeting of Shareholders (AGM)
will be held at 15:00 CET on Monday, 3 May 2004, at
Scania Syd (formerly Festival Park), Södertälje, Sweden.
PARTICIPATION
Shareholders who wish to participate in the AGM
must be recorded in the shareholder list maintained by
VPC AB (the Swedish Central Securities Depository and
Clearing Organisation) Friday, 23 April.
They must also register with the company by post
at Scania AB, SE-151 87 Södertälje, Sweden, or by
telephone at +46 8 55 35 11 03 no later than 16:00 CET
on Monday, 26 April 2004.
The Report of the Directors encompasses pages 2–77.
Swedish corporate identity number: Scania AB (publ) 556184-8564
Unless otherwise stated, all comparisons in this Annual Report refer to the same period of the preceding year.
The Annual Report contains forward-looking statements that reflect management’s current views with respect to certain
future events and potential financial performance. Such forward-looking statements involve risks and uncertainties that
could significantly alter potential results. The statements are based on certain assumptions, including assumptions
related to general economic and financial conditions in the company’s markets and the level of demand for the company’s
products.
This report does not imply that the company has undertaken to revise these forward-looking statements, beyond
what is required under the company’s registration contract with Stockholmsbörsen if and when circumstances arise that
will lead to changes compared to the date when these statements were provided.