“In Q3 2023, the Volvo Group continued to deliver improved results, margins and profitability. Adjusted for currency, our net sales grew by 9% to SEK 132.4 billion and we increased the adjusted operating income to SEK 19.1 billion (11.9), corresponding to an adjusted operating margin of 14.4% (10.3). We have successfully mitigated cost inflation with price management and continued to handle disturbances in the supply chain. Return on capital employed increased to 33.7% (27.4),” says Martin Lundstedt, President and CEO.
- In Q3 2023, net sales increased by 15% to SEK 132.4 billion (114.9). Adjusted for currency movements, the increase was 9%.
- Adjusted operating income amounted to SEK 19,114 M (11,869), corresponding to an adjusted operating margin of 14.4% (10.3). Adjusted operating income excludes a negative effect of SEK 794 M from a loss on the divestment of the Group’s Russian entities.
- Reported operating income amounted to SEK 18,320 M (11,869).
- Currency movements had a positive impact on operating income of SEK 1,165 M.
- Earnings per share amounted to SEK 6.93 (4.24).
- Operating cash flow in the Industrial Operations amounted to SEK 5,609 M (14,611).
- Return on capital employed in the Industrial Operations amounted to 33.7% (27.4).
SOURCE: Volvo Group