• In the second quarter net sales amounted to SEK 72.6 billion (72.8). Adjusted for currency movements and acquired and divested units sales decreased by 1%.
• The second quarter operating income amounted to SEK 4,325 M (3,279) excluding restructuring charges of SEK 762 M (16). The operating income includes a positive effect totaling SEK 1,041 M from a capital gain on the sale of commercial real estate and the release of a provision for Volvo Rents. Currency exchange rates had a negative impact of SEK 176 M.
• Operating margin in the second quarter was 6.0% (4.5) excluding restructuring charges and 4.9% (4.5) including restructuring charges.
• In the second quarter diluted earnings per share were SEK 1.22 (0.99).
• In the second quarter operating cash flow in the Industrial Operations amounted to SEK 4.0 billion (4.1).
“With the closing of the second quarter, we are halfway in the strategy program that will continue until the end of 2015 and which shall increase the Volvo Group’s profitability. The program is progressing according to plan and we are beginning to see positive effects from all the decisions we made in 2012 and 2013. We are slightly ahead of plan with respect to our objective of increasing the gross margin on our trucks through improved price realization, while we will strengthen our focus on lowering our operating costs,” says Olof Persson, President and CEO.
For an English PDF version of the report, please click here: Volvo Group Q2 2014 PDF
Press and Analysts Conference 09.00 AM CEST. An on-line presentation of the report, followed by a question-and-answer session will be webcast at 09.00 CEST.
Conference call for investors and analysts 2.30 PM CEST
Contacts Investor Relations:
Christer Johansson, 031 66 13 34
Patrik Stenberg, 031 66 13 36
Anders Christensson, 031 66 11 91
John Hartwell +1 201 252 8844
