“The Volvo Group continued to perform well in Q2 2022 with strong growth and improved profitability. We increased our net sales by 31% to SEK 118.9 billion with good momentum both in the sales of vehicles and in the service business. The adjusted operating income rose to SEK 13.7 billion (9.7) and we achieved an adjusted operating margin of 11.6% (10.7). Also in this quarter, we have had extra costs related to supply chain disruptions as well as higher costs for material and have continued to work proactively and successfully with price management to mitigate these effects. Our return on capital employed reached 26.8% (23.4),” says Martin Lundstedt, President and CEO.
- In Q2 2022, net sales increased by 31% to SEK 118.9 billion (90.6). Adjusted for currency movements the increase was 20%.
- Adjusted operating income2 amounted to SEK 13,745 M (9,730), corresponding to an adjusted operating margin of 11.6% (10.7).
- Reported operating income amounted to SEK 13,745 M (11,384).
- Currency movements had a positive impact on operating income of SEK 2,769 M.
- Earnings per share amounted to SEK 5.14 (4.38).
- Operating cash flow in Industrial Operations amounted to SEK 7,199 M (5,932).
- Return on capital employed in Industrial Operations of 26.8% (23.4).
SOURCE: Volvo Group
