Fourth quarter and full year 2013
Improved profitability in Trucks and strong cash flow in the fourth quarter
The fourth quarter for the Volvo Group was characterized by a high activity level, with a number of product launches. We have entered into 2014 with a new product portfolio that will strengthen the Group’s competitiveness. During 2013, extra costs associated with the product renewal put pressure on the Group’s profitability, and this was also the case in the fourth quarter. In the fourth quarter, the Group’s net sales rose 8% year-on-year, and amounted to SEK 76.6 billion with an operating margin of 4.0% adjusted for restructuring charges and the write-down of Volvo Rents. The seasonally good operating cash flow of SEK 10.3 billion in our Industrial Operations contributed to the strengthening of our financial position.
- Olof Persson, President and CEO -