CEO Håkan Samuelsson:
Volvo Cars’ growth remained strong in the third quarter with a 14 per cent increase in retail sales and an 18 per cent revenue increase. Compared to last year, the profitability was influenced by product launch costs, higher tariffs as well as license sales effects. For the full year, we expect record sales and continued strong profits.
Highlights from the financial report include the following:
Third quarter:
- Global third-quarter retail sales of 154,914 (135,831) cars
- Net revenue amounted to MSEK 56,776 (48,271)
- Operating profit MSEK 1,814 (3,669)
- EBIT margin 3.2 (7.6) per cent
First nine months:
- Global retail sales for first nine months of 472,467 (413,472) cars
- Net revenue amounted MSEK 179,628 ( 147,687)
- Operating profit MSEK 9,608 (10,445)
- EBIT margin was 5.4 (7.1) per cent
Outlook for the full year 2018:
- Volvo Cars expects profits to continue to be strong
- Volvo Cars expects continued growth in revenue and retail sales supported by our renewed product portfolio
The full financial report can be found HERE and on the Volvo Cars Investor Relations website.
This information is information that Volvo Car AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06.00 CET on 26 October 2018.
SOURCE: Volvo
