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The Volvo Group is a leading global provider of transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions, and services. Founded in 1927, the company is committed to sustainable transport solutions and shaping the future of the industry. In 2023, their net sales reached SEK 553 billion. Recently, Volvo has expanded its heavy-duty truck manufacturing capacity in Mexico and acquired the battery business from Proterra Inc. to accelerate their battery-electric roadmap.
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In 2023, AB Volvo (VLVLY) reported a significant increase in net sales to SEK 553 billion, with an adjusted operating income of SEK 77.6 billion and an adjusted operating margin of 14.0%. Return on capital employed in the Industrial Operations increased to 36.7%. The company ended the year with a net cash position of SEK 83.4 billion. The Board of Directors proposed an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share. In Q4 2023, net sales increased by 10% to SEK 148.1 billion, with an adjusted operating margin of 12.4%. Operating cash flow in the Industrial Operations amounted to SEK 22,655 M. Full-year net sales were SEK 552.8 billion, with an adjusted operating income of SEK 77,638 M and an adjusted operating margin of 14.0%. The company also reported a strong operating cash flow of SEK 45,821 M. The press release also provides details for the upcoming investor relations webcast and contact information.
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Volvo Group has signed an option agreement with John Cockerill Defense to sell Arquus after staff consultations, impacting operating income by approximately SEK 900 M in Q4 2023.
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Volvo Group (VOLV-B.ST) is accelerating hydrogen research with PhD scholarships for the internal combustion engine, aiming to reach net-zero greenhouse gas emission-enabled products, solutions, and services by 2040. The company is investing heavily in the field of hydrogen as a renewable fuel for combustion engines and fuel cell applications, alongside battery-electric solutions.
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Volvo Construction Equipment (Volvo CE) (VOLV-B.ST) and the Ammann Group have agreed on the acquisition of Volvo CE's global ABG paver business. The Volvo Group's operating income will be negatively impacted by approximately SEK 650 M in Q4 2023. The divestment includes the ABG paver production and technology center in Hameln, Germany. ABG paver business had revenues of SEK 1,100 M in 2022.
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AB Volvo (VOLV-B:ST) reports a change in the number of votes due to the conversion of 550 Series A shares to 550 Series B shares. As of 30 November 2023, the company has 2,033,452,084 registered shares, with 444,986,150 Series A shares and 1,588,465,934 Series B shares, amounting to 603,832,743.4 votes.
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Eduardo Brondizio, a Brazilian-born Anthropologist Professor at Indiana University, Bloomington, USA, has been awarded the Volvo Environment Prize in 2023 for his research on the development and environmental challenges of the Amazon. He emphasizes the need to address the rural and urban realities in the region, including poverty, violence, and the need for economic development. Contrary to popular belief, the majority of the population in the Brazilian Amazon basin lives in cities and faces significant challenges. The region has a long history of economic and resource trade, and its impact on nature dates back over 400 years.
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Volvo Group reports improved Q3 2023 results with net sales growth of 9% and increased operating income.
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Renault Group and Volvo Group join forces to create a new company for electrified vans
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Volvo Defense has entered a 7-year framework agreement with Estonia and Latvia for the delivery of logistic trucks, with a total value of approximately 440 million Euro. Volvo will deliver up to 3,000 vehicles starting in 2024. This deal demonstrates the reliability of Volvo's products and strengthens their position as a long-term business partner. The agreement includes a comprehensive maintenance and spare parts program. Volvo Trucks' Tuve assembly plant in Gothenburg will produce the vehicles.
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The number of votes in AB Volvo has changed due to the conversion of Series A shares to Series B shares. There are now 2,033,452,084 registered shares in AB Volvo, with 603,833,238.4 votes.
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FAQ
What is the current stock price of VOLVO AB UNSP/ADR (VLVLY)?
The current stock price of VOLVO AB UNSP/ADR (VLVLY) is $24.67 as of November 22, 2024.
What is the market cap of VOLVO AB UNSP/ADR (VLVLY)?
The market cap of VOLVO AB UNSP/ADR (VLVLY) is approximately 50.4B.
When was the Volvo Group founded?
The Volvo Group was founded in 1927.
What is the focus of the Volvo Group's operations?
The Volvo Group specializes in providing transport and infrastructure solutions, including trucks, buses, and construction equipment.
What was the net sales of the Volvo Group in 2023?
In 2023, the Volvo Group reported net sales of SEK 553 billion.
What recent acquisitions has Volvo made?
Recently, Volvo acquired the battery business from Proterra Inc., expanding its footprint in the battery-electric vehicle sector.
What is Volvo's commitment to sustainability?
Volvo is committed to sustainable transport solutions and shaping the future of the industry with a focus on reducing emissions and increasing efficiency.
Where is the Volvo Group headquartered?
The Volvo Group is headquartered in Gothenburg, Sweden.
What is Volvo's vision for the future?
Volvo aims to drive prosperity through transport and infrastructure solutions, delivering sustainable and innovative products and services.
How has Volvo expanded its manufacturing capacity?
Volvo recently announced plans to build a new heavy-duty truck manufacturing plant in Mexico to support the growth plans of its truck brands in North America.
What financial impact did the acquisition of Proterra's battery business have on Volvo?
The acquisition of Proterra's battery business did not have a material impact on Volvo's financial performance.
What are some recent innovations from Volvo in the electric vehicle sector?
Volvo has introduced a range of battery electric equipment, including electric excavators and wheel loaders, as part of its commitment to electrification and sustainability.
VOLVO AB UNSP/ADR
OTC:VLVLY
VLVLY Rankings
VLVLY Stock Data
50.44B
1.59B
0.02%
Farm & Heavy Construction Machinery
Industrials
United States of America
Gothenburg