Volvo Group Report on the First Quarter 2020
REPORT ON THE FIRST QUARTER 2020 In February Volvo Trucks launched a new generation of heavy-duty trucks with the driver in focus. In Q1 2020, net sales amounted to SEK 91.4 Diluted earnings per share amounted to SEK billion (107.2). Adjusted for currency 2.30 (5.22). movements, net sales decreased by 16%. Operating cash flow in the Industrial Operations Adjusted operating income1 amounted to SEK was negative in an amount of SEK 4,117 M 7,140 M (12,696), corresponding to an adjusted (positive SEK 2,754 M). operating margin of 7.8% (11.8). Severe impact from COVID-19 from mid-March. Reported operating income amounted to SEK Annual General Meeting to be held on June 18, 7,374 M (14,162). 2020. Currency movements had a negative impact on The Volvo Group and Daimler Truck AG intend operating income of SEK 261 M. to form joint venture for the development and large-scale production of fuel cells. First quarter SEK M unless otherwise stated 2020 2019 Net sales 91,449 107,208 Adjusted operating income ¹ 7,140 12,696 Adjusted operating margin, % 7.8 11.8 Operating income 7,374 14,162 Operating margin, % 8.1 13.2 Income after financial items 6,490 13,280 Income for the period 4,766 10,763 Diluted earnings per share, SEK 2.30 5.22 Operating cash flow in Industrial Operations -4,117 2,754 Net financial position in Industrial Operations, SEK bn ² 57.8 62.6 Return on capital employed in Industrial Operations, % 23.9 25.5 Return on equity, % 22.0 24.4 Net order intake, number of trucks 38,399 45,884 Deliveries, number of trucks 44,765 58,594 Net order intake, number of construction equipment 20,614 22,246 Deliveries, number of construction equipment 20,170 23,139 ¹ For information on adjusted operating income, please see note 7.
[Show full text]