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July 20, 2022

Volvo Group boosts sales, profits in Q2

Operating income was SEK13,745m (SEK9,730m)

By Graeme Roberts

Volvo Q2 2022 net sales increased 31% year on year to SEK 118.9billion from SEK90.6 billion a year ago. Adjusted for currency movements the increase was 20%.

Adjusted operating income was SEK13,745m (SEK9,730m), corresponding to an adjusted operating margin of 11.6% (10.7%).

Operating income was SEK13,745m versus SEK11,384m. Currency movements had a positive impact of SEK2,769m.

Earnings per share was SEK5.14 (SEK4.38).

Return on capital was 26.8% (23.4%).

“[We] continuedto perform well in Q2 2022 with strong growth and improved profitability,” said president and CEO Martin Lundstedt.

“We have had extra costs related to supply chain disruptions as well as higher costs for material and have continued to work proactively and successfully with price management to mitigate these effects.”

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