“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,” said Martin Lundstedt, Volvo Group president and CEO. “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% to SEK 12.7 billion with all business segments contributing with higher earnings. The adjusted operating margin rose to 11.8%.”
In Q1 2019, net sales increased by 20% to SEK 107.2 billion (89.1). Adjusted for currency movements, net sales increased by 12%.
Adjusted operating income amounted to SEK 12,696 M (8,297), corresponding to an adjusted operating margin of 11.8% (9.3). Adjusted operating income excludes the capital gain from the sale of shares in WirelessCar amounting to SEK 1,466 M.
Reported operating income amounted to SEK 14,162 M (8,297). Currency movements had a positive impact of SEK 1,211 M.
Diluted earnings per share rose to SEK 5.22 (2.78).
Return on capital employed in the Industrial Operations amounted to 25.5% (21.4).
Operating cash flow in the Industrial Operations amounted to SEK 2,754 M (1,489).