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Press release
02/03/2023
Tina Hultkvist to resign as Volvo Group Chief Financial Officer and member of the Executive Board
Tina Hultkvist has decided to resign from her role as Volvo Group Chief Financial Officer and member of the Executive Board. She has 25 years of experience at Volvo Group and has served as the Volvo Group CFO since March 2022. Jan Ytterberg, previously Volvo Group Chief Financial Officer and member of the Executive Board, and currently in the role of Volvo Group senior advisor, will step in as acting CFO.
“In 2022, the Volvo Group delivered strong growth as well as good profitability and cash flow. For the full year, we increased net sales by over SEK 100 billion to SEK 473 billion and the adjusted operating income to SEK 50.5 billion (41.0). The adjusted operating margin amounted to 10.7% (11.0). We generated a strong operating cash flow of SEK 35.3 billion (29.4) and ended the year with a net cash position of SEK 73.9 billion in the Industrial Operations, pension and lease liabilities excluded. Our strong finances mean that we can continue to provide a good return to our shareholders and at the same time invest in the transformation of our industries. The Board of Directors proposes an ordinary dividend of SEK 7.00 per share and an extra dividend of SEK 7.00 per share,” says Martin Lundstedt, President and CEO.
Press release
01/18/2023
Volvo Group Venture Capital AB invests in the Canadian founded company Waabi Innovation Inc, developing the next generation of autonomous trucking technology. The investment highlights the companies’ shared commitment to redefine the way we move goods and to accelerate the deployment of future transport solutions.
The Volvo Group report for the fourth quarter 2022 will be published on January 26, 2023 at 7.20 a.m. CEST.
Australian express freight company, Team Global Express, has placed an order for 36 Volvo electric trucks. This is Volvo’s largest electric truck order to date in Australia. The trucks will hit the streets of Sydney during the first quarter of 2023.
The number of votes in AB Volvo has changed due to the conversion of a total of 50 Series A shares to a total of 50 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
Press release
11/15/2022
Volvo Group and Pilot Company to create partnership for charging network in North America
The Volvo Group and North American-based Pilot Company have signed a Letter of Intent for the development of public, high-performing charging infrastructure for medium- and heavy-duty electric vehicles.
Press release
11/10/2022
World-first: Volvo delivers electric trucks with fossil-free steel to customers
As the world’s first truck manufacturer to do so, Volvo has begun using fossil-free * steel in its trucks. The first electric trucks with fossil-free steel are now being delivered to customers.
In 2025, Volvo Group’s truck plant in Ghent, Belgium will start to produce battery modules. To date, partners supply both cells and modules to the Group. The investment decision to install battery module manufacturing capacity in Ghent is another important step for the Volvo Group to shape its future value chain for battery systems. The battery module manufacturing line in Ghent will be able to use battery cells both from partners and from the planned battery cell plant in Sweden.
Volvo Group, Qamcom Group and the inventor Roman Iustin form a new start-up company, Fyrqom AB. The new company will offer an automated system for calibration of the tire pressure monitoring system on heavy-duty vehicles.
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