“In Q2 2023, the Volvo Group continued to perform well, with continued growth and improved profitability. We increased our net sales by 18% to SEK 140.8 billion and the adjusted operating income by SEK 8.0 billion to SEK 21.7 billion, corresponding to an adjusted operating margin of 15.4% (11.6). Thanks to a strong commercial focus, we have been successful in improving margins while managing cost inflation and increased disturbances in the supply chain,” says Martin Lundstedt, President and CEO.
- In Q2 2023, net sales increased by 18% to SEK 140.8 billion (118.9). Adjusted for currency movements, the increase was 11%.
- Adjusted operating income amounted to SEK 21,732 M (13,745), corresponding to an adjusted operating margin of 15.4% (11.6). Adjusted operating income excludes a negative effect of SEK 1,270 M from a previously announced restructuring provision in Nova Bus and costs of SEK 6,000 M relating to claims arising from the European Commission’s 2016 antitrust settlement decision.
- Reported operating income amounted to SEK 14,462 M (13,745).
- Currency movements had a positive impact on operating income of SEK 817 M.
- Earnings per share amounted to SEK 5.30 (5.14).
- Operating cash flow in the Industrial Operations amounted to SEK 12,553 M (7,199).
- Return on capital employed in Industrial Operations amounted to 30.2% (26.8).
SOURCE: Volvo Group
