🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

Volvo Group - the first quarter 2024

Published 2024/04/17, 07:46
VLVLY
-

GOTHENBURG, Sweden, April 17, 2024 /PRNewswire/ -- "During Q1 2024, demand continued to normalize at good levels across many of the Volvo (OTC:VLVLY) Group's markets. Adjusted for currency, net sales were on the same level as in Q1 2023 and amounted to SEK 131.2 billion. Invoiced price continued to increase, mainly on the back of carry-over from the price increases we gradually implemented last year. Adjusted operating income amounted to SEK 18.2 billion (18.6), which corresponds to a margin of 13.8% (14.0). Return on capital employed improved to 37.7% (30.3). We continue to prioritize quality in the business," says Martin Lundstedt, President and CEO.

  • In Q1 2024, net sales were on the same level as in the previous year and amounted to SEK 131.2 billion (131.3). Also when adjusted for currency movements, net sales were flat.
  • Adjusted operating income amounted to SEK 18,159 M (18,566), corresponding to an adjusted operating margin of 13.8% (14.0). There were no adjustments in Q1 2024. In Q1 2023, a negative effect of SEK 1,300 M was excluded from adjusted operating income.
  • Reported operating income amounted to SEK 18,159 M (17,266).
  • Currency movements had a negative impact on operating income of SEK 346 M.
  • Earnings per share amounted to SEK 6.92 (6.35).
  • Operating cash flow in the Industrial Operations amounted to SEK 8,896 M (5,004).
  • Return on capital employed in the Industrial Operations amounted to 37.7% (30.3)

Press and Analyst Conference Call
An on-line presentation of the report, followed by a question and answer session will start at 09.00 CEST. Link to webcast: https://qreport.volvogroup.com.

More information, including an interview with CEO Martin Lundstedt, is soon available on https://www.volvogroup.com/en/investors.html.

April 17, 2024

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 April 17, 2024.

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 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ab-volvo/r/volvo-group---the-first-quarter-2024,c3962631

The following files are available for download:

https://mb.cision.com/Main/39/3962631/2737133.pdf

Volvo Group - Report on the first quarter 2024

https://news.cision.com/ab-volvo/i/q12024-1860x1050,c3289904

Q12024 1860x1050

https://mb.cision.com/Public/39/3962631/9a9c89e3a10d1d3a.pdf

240417-volvo-group-volvo-group-the-first-quarter-2024-en

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.