Volvo Group Q3 sees sales and income increase - Just Auto
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Volvo Group Q3 sees sales and income increase

By Graeme Roberts 21 Oct 2021 (Last Updated October 21st, 2021 16:59)

Shorn of UD Trucks, group sales and profit rose.

Volvo Group Q3 2021 net sales increased 11% to SEK85.3bn (SEK76.9bn) or by 20% adjusted for currency movements and the divestment of UD Trucks.

Adjusted operating income was SEK9,403m (SEK7,217m), corresponding to an adjusted operating margin of 11% (9.4%).

Currency movements had a positive impact on operating income of SEK126m. EPS was SEK3.47 (SEK2.81).

Martin Lundstedt, president and CEO, said: “During Q3 2021, demand for the group’s products and services was good in most markets around the world. We [achieved] strong growth not least in the service business.

“However, the quarter was affected by shortages of semiconductors, other components and freight capacity resulting in production disturbances and increased costs.”