Volvo Group – the second quarter 2018

Volvo Group – the second quarter 2018

Volvo Group – the second quarter 2018

The FINANCIAL -- In Q2 2018 net sales increased by 18% to SEK 103.6 billion (87.9). Adjusted for currency movements and acquired and divested units sales increased by 16%.

Adjusted operating income amounted to SEK 11,519 M (8,402), corresponding to an adjusted operating margin of 11.1% (9.6). Adjusted operating income in Q2 2018 excludes a capital gain of SEK 818 M.

Reported operating income amounted to SEK 12,337 M (8,402).

Currency movements had a positive impact on operating income of SEK 672 M.

Diluted earnings per share of SEK 4.53 (2.86).

Operating cash flow in the Industrial Operations amounted to SEK 8.3 billion (11.9).

“Demand in our main markets was solid in the second quarter of 2018, and both our vehicle and service business continued to grow at a good pace. Our net sales increased by 18% to SEK 104 billion, we improved the adjusted operating income by SEK 3 billion to SEK 11.5 billion and we reached an adjusted operating margin of 11.1% (9.6). This is the first time that the Volvo Group’s sales have exceeded SEK 100 billion in a single quarter and it is also the first time the operating margin is above 10%,” says Martin Lundstedt, President and CEO.