GOTHENBURG, Sweden, Jan. 26, 2024 /PRNewswire/ — “For the full year 2023, we increased net sales by almost SEK 80 billion to SEK 553 billion and the adjusted operating income to SEK 77.6 billion (50.5), with an adjusted operating margin of 14.0% (10.7). Return on capital employed in the Industrial Operations increased to 36.7% (27.4). We also generated a strong operating cash flow of SEK 45.8 billion (35.3) and ended the year with a net cash position of SEK 83.4 billion in the Industrial Operations, pension and lease liabilities excluded. Thanks to our strong finances, we can continue to provide a good return to our shareholders and at the same time invest in and seize opportunities in the ongoing industry transformation to more sustainable solutions. The Board of Directors proposes an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share,” says Martin Lundstedt, President and CEO.

THE FOURTH QUARTER 2023           

• In Q4 2023, net sales increased by 10% to SEK 148.1 billion (134.3). Adjusted for currency movements, the increase was 8%.
• Adjusted operating income amounted to SEK 18,384 M (12,171), corresponding to an adjusted operating margin of 12.4% (9.1). Adjusted operating income excludes negative effects of SEK 1,490 M.
• Reported operating income amounted to SEK 16,894 M (11,541).
• Currency movements had a positive impact on operating income of SEK 1,106 M.
• Earnings per share amounted to SEK 5.93 (3.26).
• Operating cash flow in the Industrial Operations amounted to SEK 22,655 M (18,918).

THE FULL YEAR 2023           

• Full year net sales were SEK 552.8 billion (473.5).
• Adjusted operating income amounted to SEK 77,638 M (50,467) with an adjusted operating margin of 14.0% (10.7).
• Reported operating income amounted to SEK 66,784 M (45,712).
• Earnings per share were SEK 24.50 (16.09).
• Operating cash flow in the Industrial Operations amounted to SEK 45,821 M (35,327).
• Return on capital employed in the Industrial Operations amounted to 36.7% (27.4).
• The Board of Directors proposes an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share.

Press and Analyst Conference Call

An on-line presentation of the report, followed by a question and answer session will be webcasted starting at 09.00 CET. Link to webcast: https://qreport.volvogroup.com.

More information, including an interview with CEO Martin Lundstedt, is available on https://www.volvogroup.com/en/investors.html

January 26, 2024

Aktiebolaget Volvo (publ) 556012-5790  

Investor Relations  

SE-405 08 Göteborg, Sweden  

Tel +46 31 66 00 00  

www.volvogroup.com  

Contact Media Relations:  

Claes Eliasson            +46 765 53 72 29

[email protected]   

Contacts Investor Relations:  

Johan Bartler              +46 739 02 21 93  

Anders Christensson   +46 765 53 59 66  

This information is information that AB Volvo (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.20 CET on January 26, 2024.

For more information, please visit volvogroup.com  

For frequent updates, follow us on X: @volvogroup 

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers’ uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2022, net sales amounted to SEK 473 billion (EUR 45 billion). Volvo shares are listed on Nasdaq Stockholm.

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SOURCE AB Volvo

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