In the first quarter of 2015 Volvo Group’s efficiency-improvement programme generated good results.
Margins were improved, despite a negative market mix with significantly lower volumes in Brazil for trucks and in China for construction equipment.
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Q1 sales totalled SEK74.8bn (US$8.60bn). Adjusted for currency movements and acquired and divested units, sales decreased 1%.
Operating income was SEK7.06bn excluding restructuring charges of SEK229m.
Operating income included a positive SEK2.47bn from the sale of shares in Eicher Motors.
Operating income excluding restructuring charges and a capital gain was SEK4.59bn, for an operating margin of 6.1% (3.9%).
Truck order intake increased 3%.
During the quarter, the aquisition of 45% of Dongfeng Commercial Vehicles was completed.
