Though considerably impacted by lower vehicle volumes, the negative effects on operating income were mitigated by powerful cost-saving measures.
2020 was a year like no other. Though heavily impacted by disruptions due to the pandemic, Scania managed through with a strong underlying performance and an increased focus on driving the shift towards a sustainable transport system.
In 2020, Scania was challenged by a historic global close-down of production and an unpredictable demand situation because of the pandemic.
Despite a challenging year, Scania stayed true to its purpose and took significant steps towards a sustainable transport system, in line with its strategy. As electrification and autonomous technology disrupts the industry, new business opportunities emerge. Scania’s President and CEO Henrik Henriksson says: “We are in a period of transformative change – a time when the industry will experience some of the greatest shifts in its history. We will reshape our business model in close cooperation with current and new customers to explore these opportunities and use them to drive growth.”
The 2020 edition of Scania’s Annual and Sustainability Report takes substantial steps in outlining the journey that Scania is taking towards a sustainable transport system. It is the company’s sixth combined annual- and sustainability report, detailing its financial, social and environmental performance. Scania recognises the importance of the Task Force on Climate-Related Financial Disclosures (TCFD) and has started the journey to integrate aspects of the framework and will continue to develop the company’s reporting in accordance with its recommendations.
This news was shared to Prittle Prattle News via press release
By PR Newswire
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