GOTHENBURG, Sweden, April 20,
2023 /PRNewswire/ -- "During Q1 2023, the Volvo
Group's growth continued and our profitability took a step up.
Sales increased in all business areas and in all regions. Net sales
rose by 25% to SEK 131.4 billion, the
highest so far for a first quarter. We increased the adjusted
operating income by SEK 5.7 billion
to SEK 18.4 billion, corresponding to
a margin of 14.0% (12.0). Return on capital employed rose to 30.3%
(25.3). A good profitability is important for us to be able to
continue to increase our investments in the biggest technological
shift ever in our industries. We are in a period when we are
investing battery and fuel cell electric vehicles as well as
internal combustion engines in parallel," says Martin Lundstedt, President and CEO.
- In Q1 2023, net sales increased by 25% to SEK 131.4 billion (105.3). Adjusted for currency
movements, the increase was 17%.
- Adjusted operating income amounted to SEK 18,409 M (12,681), corresponding to an
adjusted operating margin of 14.0% (12.0). Adjusted operating
income excludes a negative effect of SEK
1,300 M from a restructuring provision in Buses.
- Reported operating income amounted to SEK 17,109 M (8,556).
- Currency movements had a positive impact on operating income of
SEK 1,669 M.
- Earnings per share amounted to SEK
6.35 (3.46).
- Operating cash flow in the Industrial Operations amounted to
SEK 5,004 M (-5,400).
- Return on capital employed in Industrial Operations amounted
to 30.3% (25.3).
Press and Analyst Conference Call
An on-line presentation of the report, followed by a question
and answer session will be webcast starting at 09.00 CET.
More information, including an interview with CEO Martin Lundstedt, is available on
https://www.volvogroup.com/en/investors.html
April 20, 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:
Christer Johansson +46 739 02 25 22
Johan Bartler +46 739 02 21 93
Anders Christensson +46 765 53 59 66
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/39/3754378/1996362.pdf
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SOURCE AB Volvo