Volvo Cars, the premium car maker, today reports its financial result for the third quarter and first nine months of 2017. Highlights from the financial report include the following:
Third quarter:
- Operating profit of MSEK 3,669, an increase of 77.5 per cent compared to Q3 2016
- Net revenue up to MSEK 48,880, up 18.4 per cent versus Q3 2016
- Net income of MSEK 2,513, an increase of 89.4 per cent compared to Q3 2016
- EBIT margin of 7.5 per cent, versus 5.0 per cent in the third quarter of 2016
- Global third-quarter retail sales up 10.6 per cent to 135,831 cars
First nine months:
- First nine months operating profit of MSEK 10,445, an increase of 36.4 per cent compared to the same period in 2016
- Net revenue for first nine months of MSEK 149,250, up 18.9 per cent vs first nine months of 2016
- First nine months net income of MSEK 7,262, an increase of 42.1 per cent year-on-year
- EBIT margin of 7.0 per cent, compared to 6.1 per cent in the first nine months of 2016
- Global retail sales for first nine months up 9.0 per cent to 413,472 cars
Outlook:
- The company expects to report a fourth consecutive global sales record for the full year
The full financial report can be found HERE and on the Volvo Cars Investor Relations website.
