The FINANCIAL -- “In the first quarter the Volvo Group increased its net sales by 16% to SEK 89.1 billion with good demand in most markets globally. Our operating income amounted to SEK 8.3 billion (6.8) with a corresponding margin of 9.3% (8.9). Earnings in Construction Equipment continued to increase strongly while Trucks was on par with last year. It is a good result, but we are still not satisfied,” says Martin Lundstedt, President and CEO.
In Q1 2018 net sales increased by 16% to SEK 89.1 billion (76.9). Adjusted for currency movements and acquired and divested units sales increased by 19%.
Both adjusted and reported operating income amounted to SEK 8,297 M (6,834), corresponding to an operating margin of 9.3% (8.9).
Currency movements had a negative impact on operating income of SEK 730 M.
Operating cash flow in the Industrial Operations amounted to SEK 1.5 billion (1.5).
In April, Volvo Trucks premiered its new all-electric medium-duty truck, the Volvo FL Electric.