Volvo Group - the third quarter 2023

Rhea-AI Summary

Volvo Group reports improved Q3 2023 results with net sales growth of 9% and increased operating income.

Positive

• Adjusted net sales grew by 9% to SEK 132.4 billion.
• Adjusted operating income increased to SEK 19.1 billion, with an operating margin of 14.4%.
• Return on capital employed increased to 33.7%.
• Earnings per share amounted to SEK 6.93.
• Operating cash flow in the Industrial Operations was SEK 5,609 million.

Negative

• None.

GOTHENBURG, Sweden, Oct. 18, 2023 /PRNewswire/ -- "In Q3 2023, the Volvo Group continued to deliver improved results, margins and profitability. Adjusted for currency, our net sales grew by 9% to SEK 132.4 billion and we increased the adjusted operating income to SEK 19.1 billion (11.9), corresponding to an adjusted operating margin of 14.4% (10.3). We have successfully mitigated cost inflation with price management and continued to handle disturbances in the supply chain. Return on capital employed increased to 33.7% (27.4)," says Martin Lundstedt, President and CEO.

• In Q3 2023, net sales increased by 15% to SEK 132.4 billion (114.9). Adjusted for currency movements, the increase was 9%.
• Adjusted operating income amounted to SEK 19,114 M (11,869), corresponding to an adjusted operating margin of 14.4% (10.3). Adjusted operating income excludes a negative effect of SEK 794 M from a loss on the divestment of the Group's Russian entities.

• Reported operating income amounted to SEK 18,320 M (11,869).

• Currency movements had a positive impact on operating income of SEK 1,165 M.

• Earnings per share amounted to SEK 6.93 (4.24).

• Operating cash flow in the Industrial Operations amounted to SEK 5,609 M (14,611).

• Return on capital employed in the Industrial Operations amounted to  33.7% (27.4).

Press and Analyst Conference Call
An online 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 soon available on https://www.volvogroup.com/en/investors.html.

October 18, 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 October 18, 2023. 

For more information, please visit volvogroup.com 
For frequent updates, follow us on X: @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/39/3855575/2365853.pdf	Volvo Group - Report on the third quarter 2023
https://news.cision.com/ab-volvo/i/vasboliden-1860x1050,c3226367	VASBoliden 1860x1050
https://mb.cision.com/Public/39/3855575/9fe56b1690f78696.pdf	231018-volvo-group-volvo-group-the-third-quarter-2023-en

 

View original content:https://www.prnewswire.com/news-releases/volvo-group--the-third-quarter-2023-301960082.html

SOURCE AB Volvo

FAQ

What was the growth in net sales for Volvo Group in Q3 2023?

The net sales for Volvo Group in Q3 2023 grew by 9% to SEK 132.4 billion.

What was the adjusted operating income and margin for Volvo Group in Q3 2023?

The adjusted operating income for Volvo Group in Q3 2023 was SEK 19.1 billion, with an operating margin of 14.4%.

What was the return on capital employed for Volvo Group in Q3 2023?

The return on capital employed for Volvo Group in Q3 2023 increased to 33.7%.

What were the earnings per share for Volvo Group in Q3 2023?

The earnings per share for Volvo Group in Q3 2023 amounted to SEK 6.93.

What was the operating cash flow in the Industrial Operations for Volvo Group in Q3 2023?

The operating cash flow in the Industrial Operations for Volvo Group in Q3 2023 was SEK 5,609 million.