GOTHENBURG, Sweden, July 19,
2023 /PRNewswire/ -- "In Q2 2023, the Volvo Group
continued to perform well, with continued growth and improved
profitability. We increased our net sales by 18% to SEK 140.8
billion and the adjusted operating income by SEK 8.0 billion to SEK
21.7 billion, corresponding to an adjusted operating margin
of 15.4% (11.6). Thanks to a strong commercial focus, we have been
successful in improving margins while managing cost inflation and
increased disturbances in the supply chain," says Martin Lundstedt, President and CEO.
- In Q2 2023, net sales increased by 18% to SEK 140.8 billion (118.9). Adjusted for currency
movements, the increase was 11%.
- Adjusted operating income amounted to SEK 21,732 M (13,745), corresponding to an
adjusted operating margin of 15.4% (11.6). Adjusted operating
income excludes a negative effect of SEK
1,270 M from a previously announced restructuring provision
in Nova Bus and costs of SEK 6,000 M
relating to claims arising from the European Commission's 2016
antitrust settlement decision.
- Reported operating income amounted to SEK 14,462 M (13,745).
- Currency movements had a positive impact on operating income of
SEK 817 M.
- Earnings per share amounted to SEK
5.30 (5.14).
- Operating cash flow in the Industrial Operations amounted to
SEK 12,553 M (7,199).
- Return on capital employed in Industrial Operations amounted to
30.2% (26.8).
Press and Analyst Conference Call
An on-line presentation of the report, followed by a question and
answer session will be webcasted at 09.00 CEST. Link to
webcast: https://qreport.volvogroup.com. More information,
including an interview with CEO Martin
Lundstedt, is available on
https://www.volvogroup.com/en/investors.html.
July 19, 2023
Aktiebolaget Volvo (publ) 556012-5790
Investor Relations
SE-405 08 Göteborg, Sweden
Tel +46 31 66 00 00
www.volvogroup.com
Contact Media Relations:
Claes
Eliasson
+46 765 53 72 29
Contacts Investor Relations:
Johan
Bartler
+46 739 02 21 93
Anders
Christensson
+46 765 53 59 66
This information is information that AB Volvo (publ) is
obliged to make public pursuant to the EU Market Abuse
Regulation and the Securities Markets Act. The information was
submitted for publication, through the agency of the contact
person set out above, at 07.20 CEST on July
19, 2023.
For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup
The Volvo Group drives prosperity through transport and
infrastructure solutions, offering trucks, buses, construction
equipment, power solutions for marine and industrial applications,
financing and services that increase our customers' uptime and
productivity. Founded in 1927, the Volvo Group is committed to
shaping the future landscape of sustainable transport and
infrastructure solutions. The Volvo Group is headquartered in
Gothenburg, Sweden, employs more
than 100,000 people and serves customers in almost 190 markets. In
2022, net sales amounted to SEK 473
billion (EUR 45 billion).
Volvo shares are listed on Nasdaq Stockholm.
The following files are available for download:
https://mb.cision.com/Main/39/3806976/2195516.pdf
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https://news.cision.com/ab-volvo/i/2023q2-1860x1050,c3200837
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SOURCE AB Volvo