“In Q3 2022, the Volvo Group’s strong growth continued. We increased our net sales by 35% to SEK 114.9 billion with a good development both in the sales of vehicles and in the service business. The adjusted operating income rose to SEK 11.9 billion (9.4) with an adjusted operating margin of 10.3% (11.0). A reduction in working capital contributed to a strong operating cash flow of SEK 14.6 billion (-5.7) in Industrial Operations. Return on capital employed improved to 27.4% (25.6),” says Martin Lundstedt, President and CEO.
- In Q3 2022, net sales increased by 35% to SEK 114.9 billion (85.3). Adjusted for currency movements the increase was 21%.
- Both adjusted and reported operating income amounted to SEK 11,869 M (9,403), corresponding to an operating margin of 10.3% (11.0).
- Currency movements had a positive impact on operating income of SEK 2,417 M.
- Earnings per share amounted to SEK 4.24 (3.47).
- Operating cash flow in Industrial Operations amounted to SEK 14,611 M (-5,735).
- Return on capital employed in Industrial Operations amounted to 27.4% (25.6).
- Series production of heavy-duty, 44-tonne electric trucks started.
SOURCE: Volvo Group
