• In the third quarter net sales amounted to SEK 67.2 billion (64.9). Adjusted for currency movements and acquired and divested units sales were on the same level as last year.
• Operating income was SEK 2,908 M (2,502) excluding restructuring charges of SEK 659 M (104). Currency exchange rates had a positive impact of SEK 485 M. The third quarter was negatively impacted by a provision of SEK 422 M from a litigation in the U.S.
• Operating margin in the third quarter was 4.3% (3.9) excluding restructuring charges and 3.3% (3.7) including restructuring charges.
• Diluted earnings per share were SEK 0.74 (0.68).
• Operating cash flow in the Industrial Operations amounted to SEK 0.9 billion (-5.3).
• Higher ambition in structural cost-reduction efforts and increased expected restructuring charges in the Strategic Program 2013-2015.
“The activities within the Strategic Program 2013-2015 are being implemented as planned. We have identified additional opportunities to reduce our structural cost level and we are therefore increasing the scope of our strategic program with the following activities: Implement further cost-reduction activities in Volvo CE, reorganize Group Trucks Sales in order to increase efficiency and reduce costs and review what is core and non-core in in our IT operations,” says Olof Persson, President and CEO.
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 3.00 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