• In the fourth quarter, net sales decreased by 17% to SEK 71.8 billion (86.5). Adjusted for currency movements and acquired and divested units, sales decreased by 12%.
• The fourth quarter operating income amounted to SEK 1,121 M (6,955) including restructuring charges of SEK 990 M and a positive impact of SEK 254 M from the divestment of Volvo Aero.
• Operating margin in the fourth quarter was 1.6% (8.0).
• In the fourth quarter, basic and diluted earnings per share were SEK 0.39 (2.33).
• In the fourth quarter, operating cash flow in the Industrial Operations was positive in an amount of SEK 4.7 billion (10.7) primarily driven by a SEK 5.4 billion reduction in inventories.
• Net financial debt reduced by SEK 12 billion and equal to 29% of equity in the Industrial Operations.
• The Board of Directors proposes a dividend of SEK 3.00 per share (3.00).
• Volvo Group to become world’s largest heavy-duty truck manufacturer following strategic alliance with Chinese company Dongfeng Motor Group.
“On a Group level the first quarter of 2013 will also be difficult as a result of the low order intake in many markets during the fourth quarter of 2012. Profitability will be affected by low capacity utilization, high spend levels in research and development and costs associated with the launch of new products. However, we expect market conditions to gradually improve during the course of 2013 when economic growth across the world gains momentum.” Olof Persson, President and CEO.
Find the full report under interim reports .
Contacts Investor Relations:
Christer Johansson, +46 31 66 13 34
Patrik Stenberg, +46 31 66 13 36
Anders Christensson, +46 31 66 11 91
John Hartwell, +1 201 252 8844