Welcome to Volvo Group

“In Q1, the Volvo Group’s net sales declined by 7% adjusted for currency movements and amounted to SEK 121.8 billion (131.2). Sales of vehicles were 9% lower than in Q1 2024 and as the quarter went by, there was increased uncertainty surrounding tariffs and their effect on global trade. The underlying service business continued to grow supported by good utilization of vehicles and machines in many markets across the world. Adjusted for the divestment of Arquus and currency our service business grew by 2% compared with Q1, 2024, and on a rolling 12-month basis we had service revenues of SEK 129.2 billion. The lower vehicle volumes affected our profitability, but we nonetheless generated an operating income of SEK 13.3 billion (18.2) with a margin of 10.9% (13.8),” says Martin Lundstedt, President and CEO.

The Volvo Group report for the first quarter will be published on April 23, 2025 at 7:20 a.m. CEST.

AB Volvo held its Annual General Meeting on April 2, 2025. The Meeting was held at Konserthuset in Göteborg, Sweden, with the option for shareholders to exercise their voting rights by advance voting (postal voting). Presentations by the Chairman of the Board and the President and CEO describing the work of the Board and the Volvo Group’s operations are available on AB Volvo’s website www.volvogroup.com.

The number of votes in AB Volvo has changed due to the conversion of a total of 7,640 Series A shares to a total of 7,640 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.

The number of votes in AB Volvo has changed due to the conversion of a total of 10,000 Series A shares to a total of 10,000 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.

Volvo Group today published the Annual Report for 2024 on www.volvogroup.com.