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Tina Hultkvist has decided to resign from her role as Volvo Group Chief Financial Officer and member of the Executive Board. She has 25 years of experience at Volvo Group and has served as the Volvo Group CFO since March 2022. Jan Ytterberg, previously Volvo Group Chief Financial Officer and member of the Executive Board, and currently in the role of Volvo Group senior advisor, will step in as acting CFO.

“In 2022, the Volvo Group delivered strong growth as well as good profitability and cash flow. For the full year, we increased net sales by over SEK 100 billion to SEK 473 billion and the adjusted operating income to SEK 50.5 billion (41.0). The adjusted operating margin amounted to 10.7% (11.0). We generated a strong operating cash flow of SEK 35.3 billion (29.4) and ended the year with a net cash position of SEK 73.9 billion in the Industrial Operations, pension and lease liabilities excluded. Our strong finances mean that we can continue to provide a good return to our shareholders and at the same time invest in the transformation of our industries. The Board of Directors proposes an ordinary dividend of SEK 7.00 per share and an extra dividend of SEK 7.00 per share,” says Martin Lundstedt, President and CEO.

Volvo Group Venture Capital AB invests in the Canadian founded company Waabi Innovation Inc, developing the next generation of autonomous trucking technology. The investment highlights the companies’ shared commitment to redefine the way we move goods and to accelerate the deployment of future transport solutions.