The Volvo Group reported improved sales for this year’s first quarter during the Press and Analyst Conference held at Tändstickspalatset, Västra Trädgårdsgatan 15 in Stockholm, Sweden on April 24.
It was represented by President and CEO Martin Lundstedt and CFO Jan Ytterberg.
“The Volvo Group's positive development continued in Q1 2019. We increased net sales to SEK 107.2 billion (89.1), with all business segments and regions contributing. Both our vehicle and service business grew at a good pace. The increased sales volumes together with an improvement in our operational performance contributed to a rise in profitability. Our adjusted operating income increased by 53 percent to SEK 12.7 billion with all business segments contributing with higher earnings. The adjusted operating margin rose to 11.8 percent,” said Lundstedt.
The adjusted operating income excludes the capital gain from the sale of shares in WirelessCar which amounts to SEK 1,466 million. The reported operating income reached SEK 14,162 million (8,297) and currency movements had a positive impact of SEK 1,211 million. Additionally, diluted earnings per share increased to SEK 5.22 (2.78), return on capital employed in the industrial operations amounted to 25.5 percent (21.4), and operating cash flow in the industrial operations amounted to SEK 2,754 million (1,489).