Scania annual report 2002

SCANIA SHARE DATA
Scania share data
The 2002 stock market year was characterised
by a continued negative trend on
world stock exchanges. Both the Stockholm
All Share Index and the Industrials Index fell
during the year.
400
350
300
Share price, Stockholmsbörsen, Scania B shares
All-share index (SAX)
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On Stockholmsbörsen, the All-Share Index, which measures
the overall trend on the exchange, fell by 37 percent.
The Industrials Index, which measures the trend in
the industrial goods and services sector and includes
Scania shares, fell by 24 percent. Despite the negative
trend, however, trading volume on Stockholmsbörsen
was high in historical terms.
Scania’s B shares fell by 12 percent during the year,
closing at SEK 168.50 per share on 31 December. This
was equivalent to a market capitalisation of SEK 33,450
m., which made Scania the 18th largest company on
the exchange.
200
150
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About Scania shares
Scania’s share capital is divided into 100 million A shares and
100 million B shares. Each A share represents one vote and each
B share one tenth of a vote. Otherwise there are no differences
between these types of shares. The nominal (par) value per
share is SEK 10.
Scania B shares
98 99 00 01 02
Market listing
Since 1 April 1996, both types of Scania shares – Series A and
Series B – have been quoted on the A list of Stockholmsbörsen.
Volume and trading
Scania share trading volume remained low, averaging
107,757 shares changing hands each trading day in
Stockholm. The turnover rate for B shares was 23 (29)
percent. For Stockholmsbörsen as a whole, it was 122
(134) percent. Scania’s shares were affected by the fact
that the three largest owners tie up 73 percent of the
shares. Due to limited trading volume, Scania is no
longer in the “most traded” segment on the exchange’s
A list. On the New York Stock Exchange, trading in
Scania’s shares was very low. Since the number of outstanding
shares (ADRs) is low, the costs of being listed
on the NYSE are no longer justifiable. The opportunities
for investors to trade globally in equities have also increased
significantly in recent years. Scania therefore
applied for de-listing from the NYSE early in December
and was de-listed on 15 January 2003.
Ownership structure
On 31 January 2003, the number of shareholders in
Scania was 39,000. The three largest owners –
Volkswagen AG, AB Volvo and Investor AB – together
own 80 percent of the votes and 73 percent of the
capital in Scania. Volvo has stated publicly that
according to the European Commission’s decision,
it must divest its holding in Scania before April 2004.
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