Loss of sales, loss of performance, elimination of dividends... In 2009, the annual reports of multinational commercial vehicle companies were doomed to disappointment. From a global perspective, in 2009, the number of heavy-duty trucks registered in 29 European countries (including the European Union, Norway, and Switzerland) fell from 319,000 vehicles in 2008 to 164,000 vehicles, a drop of 49%; North American 8-level trucks (the total weight of vehicles is 14969 Sales volume above kilograms dropped by 38% to 115,000 units, compared with 185,000 units in 2008.
As market demand falls, the sales of multinational commercial vehicle companies will naturally decline. What is the performance of each company? "Commercial Automotive News" reporter inventoryed the performance of the four major European commercial vehicle companies in 2009.
Daimler's operating revenue dropped 20% year-on-year
On February 18th, Daimler announced the 2009 annual report. The company’s 2009 EBIT (corporate profits before excluding financial expenses) lost 1.5 billion euros, net loss of 26.64 euros, and in 2008 the company also made net profit of 1.414 billion euros. . In 2009, Daimler’s operating income fell by 20% to 78.9 billion euros, and in 2008 it was 98.5 billion euros. Therefore, the company's board of directors decided to cancel dividends. On the date of the annual report, Daimler shares fell 7%, while in the past 3 months, the stock price has dropped 15%.
In 2009, Daimler truck sales fell from 472,100 units in 2008 to 25,930 units; operating income fell 36% to 18.4 billion euros; EBIT changed from a profit of 1,017 million euros in 2008 to a loss of 1,01 billion euros. The sales volume of Daimler passenger cars and passenger car chassis was 32,500. The operating income was 4.2 billion euros, compared with 40,600 and 4.8 billion euros respectively in the same period of last year.
In a lament, it is also slightly better. In 2009, Daimler’s net cash flow from the industrial sector turned a profit, reaching 2.7 billion euros. In 2008, this figure was -3.9 billion euros.
Volvo’s operating loss of 1.73 billion euros
In 2009, Volvo’s net sales were SEK 218.04 billion (approximately EUR 22.2 billion), a year-on-year decrease of 28%; operating loss was SEK 17 billion (approximately 1.73 billion EUR), and a loss of 7.26 SEK per share (approximately 0.7%). Euro), while operating income in 2008 reached SEK 15.9 billion (approximately 1.62 billion euros). Therefore, the company's board of directors proposed to cancel dividends in 2009.
From the perspective of the whole year of 2009, Volvo’s performance was bleak. Only in the fourth quarter saw a slight improvement. In the quarter, Volvo’s net sales were 59.8 billion Swedish kronor (about 6.09 billion euros), a year-on-year decrease of 23%; operating loss was 2.316 billion. Swedish Krona (about 240 million euros), loss of 0.99 SEK per share (approximately 0.1 euros). But overall, Volvo truck orders increased by 19% from the previous quarter and increased by 179% year-on-year.
Mann's annual revenue fell by 30%
In 2009, the German company's annual order revenue was 9.86 billion euros, a year-on-year drop of 30%, and fell back to the 2004 level. In 2009, the total revenue was 12 billion euros, a year-on-year drop of 20%. In 2009, the group had a net loss of 258 million euros, and in 2008 it had a net gain of 1.247 billion euros. Mann believes that the decline in performance is caused by the weakness of the global economy and the financial crisis. In 2009, the economy of many parts of the world experienced a recession, resulting in a decline in the industrial output of Manitoba's transportation and power business units and a decline in global trade.
The business of MAN commercial vehicles includes MAN Nutzfahrzeuge, MAN Latin America and 25%+1 shares of CNHTC. In 2009, MAN Commercial Vehicles had an order income of 5.224 billion Euros, total revenue of 6.395 billion Euros, and an operating loss of 91 million Euros. In 2008, the order revenue was 9.13 billion Euros, total revenue was 10.61 billion Euros, and operating income was 1.062 billion Euros.
On January 1, 2009, Mann officially acquired VW’s card and passenger car business unit in Brazil and established Mann Latin America to produce 5 to 31 tons of trucks and 8 to 18 tons of passenger car chassis. In 2009, the company’s order revenue was 1.412 billion euros, with total revenue of 1.412 billion euros and operating income of 142 million euros.
From the perspective of the regional market, in 2009 Mann’s sales in the European market fell by nearly half compared to 2008. The Asian market, which had been maintaining rapid growth before, also recorded a 42% decline. The order revenue was only 1.6 billion euros, but orders from the Americas Income increased to 1.9 billion euros. This was driven by sales in Latin America. With the exception of Latin America, order revenues in other regions of the Americas fell by 19% to only 500 million euros. Although European order revenue ratio fell from 70% in 2008 to 58% in 2009, Europe remains the most important market for Man, followed by the Americas (20% of order revenue) and Asia (16% of order revenue). ).
Scania vehicle delivery drop 41%
In 2009, Scania vehicle delivery fell 41% to 43,443; operating income fell to 2,473 million Swedish kronor (about 252 million euros), earnings per share fell to 1.41 Swedish kronor (about 0.14 euros), net Sales fell by 30% to SEK 62.074 billion (about 6.312 billion euros), and the Board of Directors proposed a dividend of SEK 1.00 (approximately 0.10 EUR) per share.
From the performance of each model, Scania's truck delivery dropped by 45% to 36,807 units in 2009 and to 66,516 in 2008. In Western Europe, deliveries fell by 51%; in Central and Eastern Europe, deliveries decreased by 74%, mainly due to the market downturn, especially Russia and Poland. Latin America fell by only 11%, because the positive demand trend in the Brazilian market offset the decline in the overall market. The Asian market generally performed poorly, especially in Turkey.
Compared with the sharp drop in the truck market, Scania's bus performance is relatively stable. In 2009, the number of Scania passenger cars decreased by 19% to 5,794. The Italian, British, Spanish, and Russian markets performed poorly, while the Brazilian market bucked the trend.
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