Annual Report 2022

The Annual Report 2022 was published on February 28, 2023
A man plugs into the electric test vehicle | Volvo Group

“We have a strong foundation in terms of our strong financial position, customer relations, industrial backbone, technology, products and services and – most importantly – people. These qualities and capabilities will be equally important as we move forward, working together with our customers and partners – shaping the world we want to live in,” says Martin Lundstedt, President and CEO.

In 2022, the Volvo Group’s net sales increased by over SEK 100 billion to SEK 473.5 billion and the adjusted operating income rose to SEK 50.5 billion (41.0), with an adjusted operating margin of 10.7% (11.0). Return on capital employed in the Industrial Operations increased to 27.4% (25.3).