AB Volvo publishes Annual Report 2022

Rhea-AI Summary

Volvo Group has released its Annual Report for 2022, showcasing net sales of SEK 473.5 billion, an increase of over SEK 100 billion. The adjusted operating income rose to SEK 50.5 billion, with a slight decrease in operating margin to 10.7%. Return on capital employed in industrial operations increased to 27.4%. Despite facing challenges such as geopolitical turmoil and supply chain constraints, the company is focusing on transforming the transport system towards decarbonization, enhancing customer commitments to reduce CO2 emissions. Overall, the report indicates solid profitability and a strong financial position.

Positive

• Net sales increased to SEK 473.5 billion, up SEK 100 billion.
• Adjusted operating income rose to SEK 50.5 billion.
• Return on capital employed increased to 27.4%.
• Focus on decarbonization aligns with customer emission reduction commitments.

Negative

• Adjusted operating margin decreased to 10.7% from 11.0%.

GOTHENBURG, Sweden, Feb. 28, 2023 /PRNewswire/ -- Volvo Group today published the Annual Report 2022 on www.volvogroup.com. During the year, the Volvo Group delivered solid profitability, good return to shareholders and accelerated the transformation in yet another challenging year with geopolitical turmoil, supply chain constraints and high inflationary pressure.

"We have a strong foundation in terms of our strong financial position, customer relations, industrial backbone, technology, products and services and – most importantly – people. These qualities and capabilities will be equally important as we move forward, working together with our customers and partners – shaping the world we want to live in," says Martin Lundstedt, President and CEO.

In 2022, the Volvo Group's net sales increased by over SEK 100 billion to SEK 473.5 billion and the adjusted operating income rose to SEK 50.5 billion (41.0), with an adjusted operating margin of 10.7% (11.0). Return on capital employed in the Industrial Operations increased to 27.4% (25.3).

Several transformation milestones to decarbonize the transport system were also passed. This transition is not only vital for a sustainable future, it also delivers on our customers' commitments to reduce their CO2 emissions and it drives growth for the Volvo Group.

February 28, 2023

Journalists wanting further information, please contact:
Claes Eliasson, Volvo Group Media Relations, +46 76 553 72 29

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/39/3725013/1882136.pdf	AB Volvo Annual Report 2022
https://mb.cision.com/Main/39/3725013/1882137.zip	abvolvo-2022-12-31-en.zip
https://news.cision.com/ab-volvo/i/bild-arsredovisningen2022-1860x1050,c3149909	Bild Arsredovisningen2022 1860x1050
https://mb.cision.com/Public/39/3725013/bb04be839612e635.pdf	230228-ab-volvo-publishes-annunal-report-2022-en

View original content:https://www.prnewswire.com/news-releases/ab-volvo-publishes-annual-report-2022-301758037.html

SOURCE AB Volvo

FAQ

What were Volvo Group's net sales for 2022?

Volvo Group's net sales for 2022 were SEK 473.5 billion, an increase of over SEK 100 billion.

What is the adjusted operating income reported by Volvo Group for 2022?

The adjusted operating income for Volvo Group in 2022 was SEK 50.5 billion.

How did Volvo Group's return on capital employed change in 2022?

The return on capital employed in Volvo Group's industrial operations increased to 27.4% in 2022.

What challenges did Volvo Group face in 2022?

Volvo Group faced geopolitical turmoil, supply chain constraints, and high inflationary pressure in 2022.

What is the current operating margin for Volvo Group?

The adjusted operating margin for Volvo Group in 2022 was 10.7%, down from 11.0%.