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October 21, 2021

Volvo Group Q3 sees sales and income increase

Shorn of UD Trucks, group sales and profit rose.

By Graeme Roberts

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.”

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