“2019 was another good year for the Volvo Group. We grew net sales by 11% to SEK 432 billion and improved our adjusted operating income to SEK 47.9 billion (40.7), with a margin of 11.1% (10.4). During the year we also continued to increase our financial strength. With an operating cash flow of SEK 38.3 billion, we ended the year with a net cash position of SEK 62.6 billion in the Industrial Operations, excluding pension and lease liabilities. Our increased profitability and strong financial position allow us to invest in our future as well as return cash to our shareholders,” says Martin Lundstedt, President and CEO.
THE FOURTH QUARTER 2019
- In Q4 2019, net sales amounted to SEK 105.4 billion (105.8). Adjusted for currency movements, net sales decreased by 5%.
- Adjusted operating income amounted to SEK 9,223 M (10,597), corresponding to an operating margin of 8.8% (10.0).
- Reported operating income amounted to SEK 9,379 M (3,597).
- Currency movements had a positive impact on operating income of SEK 763 M.
- Diluted earnings per share amounted to SEK 3.27 (1.26).
- Operating cash flow in the Industrial Operations amounted to SEK 19,856 M (15,471).
- Volvo Group and Isuzu Motors intend to form strategic alliance.
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SOURCE: Volvo Group