Truck maker Volvo Group has reported operating income of SEK5,660m (US$648m) on sales of SEK82.6 bn in Q4 2016.
Martin Lundstedt, president and CEO said: "2016 was a year with somewhat lower volumes. Our revenues declined by 3% to SEK302 bn. Nonetheless, our profitability improved with an adjusted operating margin of 7.0% for the full year 2016. This reflects our ability to manage volume changes in different regions as well as continued cost reductions and productivity improvements. The fourth quarter followed the pattern of previous quarters with somewhat improved profitability on lower volumes. Adjusted operating income was SEK5,660m, corresponding to a margin of 6.9%,"
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Q4 2016
Sales increased 4% to SEK82.6bn (SEK79.6bn). Adjusted for currency movements and acquired and divested units, sales decreased 1%.
Adjusted operating income wasSEK5,660m (SEK4,573m) and operating margin 6.9% (5.7%), excluding a capital gain on the sale of real estate of SEK1,371m.
Currency movements had a positive impact of SEK336m on operating income .
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By GlobalDataFull year 2016
Net sales fell 3% to SEK301.9bn (SEK312.5bn).
Adjusted operating income was SEK21,094m (SEK20,235m) and operating margin 7.0% (6.5%).
