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Volvo Group – the first quarter 2015

In the first quarter of 2015 the effects of the Volvo Group’s strategic efficiency-improvement program continued to generate results. In several areas of the Group margins were improved, despite a negative market mix with significantly lower volumes in Brazil for trucks and in China for construction equipment.
  • In the first quarter net sales amounted to SEK 74.8 billion (65.6). Adjusted for currency movements and acquired and divested units sales decreased by 1%.
  • Operating income amounted to SEK 7,066 M (2,588) excluding restructuring charges of SEK 229 M (318). Operating income includes a positive impact of SEK 2,471 M from the sale of shares in Eicher Motors Limited. Currency exchange rates had a positive impact of SEK 1,282 M.
  • Operating income excluding restructuring charges and the capital gain from the sale of shares amounted to SEK 4,595 M (2,588), corresponding to an operating margin of 6.1% (3.9).
  • Operating cash flow in the Industrial Operations amounted to SEK –1.7 billion (–9.0).
  • Net financial debt in the Industrial Operations amounted to 23% of equity.
  • Truck order intake increased by 3% while order intake of construction equipment decreased by 24%.
  • Acquisition of 45% of Dongfeng Commercial Vehicles completed.

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