First quarter 2023

The Volvo Group report for the first quarter 2023 was published on April 20, 2023, at 7.20 a.m. CET.

“During Q1 2023, the Volvo Group's growth continued and our profitability took a step up. Sales increased in all business areas and in all regions. Net sales rose by 25% to SEK 131.4 billion, the highest so far for a first quarter. We increased the adjusted operating income by SEK 5.7 billion to SEK 18.4 billion, corresponding to a margin of 14.0% (12.0).

Return on capital employed rose to 30.3% (25.3). A good profitability is important for us to be able to continue to increase our investments in the biggest technological shift ever in our industries. We are in a period when we are investing battery and fuel cell electric vehicles as well as internal combustion engines in parallel,” says Martin Lundstedt, President and CEO.

An online presentation of the report, followed by a question-and-answer session, was webcast at 9.00 a.m. CEST. The Volvo Group was represented by President and CEO Martin Lundstedt and acting CFO Jan Ytterberg. Access the replay.

Follow us on Twitter:


Martin Lundstedt on Q1 result