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Press release

Volvo Group – the first quarter 2023

2023-04-20
“During Q1 2023, the Volvo Group's growth continued and our profitability took a step up. Sales increased in all business areas and in all regions. Net sales rose by 25% to SEK 131.4 billion, the highest so far for a first quarter. We increased the adjusted operating income by SEK 5.7 billion to SEK 18.4 billion, corresponding to a margin of 14.0% (12.0). Return on capital employed rose to 30.3% (25.3). A good profitability is important for us to be able to continue to increase our investments in the biggest technological shift ever in our industries. We are in a period when we are investing battery and fuel cell electric vehicles as well as internal combustion engines in parallel,” says Martin Lundstedt, President and CEO.
Volvo Group – the first quarter 2023
  • In Q1 2023, net sales increased by 25% to SEK 131.4 billion (105.3). Adjusted for currency movements, the increase was 17%.
  • Adjusted operating income1 amounted to SEK 18,409 M (12,681), corresponding to an adjusted operating margin of 14.0% (12.0). Adjusted operating income excludes a negative effect of SEK 1,300 M from a restructuring provision in Buses.
  • Reported operating income amounted to SEK 17,109 M (8,556).
  • Currency movements had a positive impact on operating income of SEK 1,669 M.
  • Earnings per share amounted to SEK 6.35 (3.46).
  • Operating cash flow in the Industrial Operations amounted to SEK 5,004 M (-5,400).
  • Return on capital employed in Industrial Operations amounted to  30.3% (25.3).

 

Press and Analyst Conference Call. An on-line presentation of the report, followed by a question and answer session will be webcast starting at 09.00 CET.

More information, including an interview with CEO Martin Lundstedt, is available on https://www.volvogroup.com/en/investors.html

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Volvo Group report on Q1 2023 Format PDF Size 8 MB
Press release – Volvo Group report on Q1 2023 Format PDF Size 247 KB
Presentation material Format PDF Size 2 MB
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