The Volvo Group report for the second quarter 2024 was published on July 18.
“During Q2 2024, the Volvo Group delivered good profitability as demand in many markets continued to normalize compared with the high levels of 2023. Net sales amounted to SEK 140.2 billion, which adjusted for currency changes was on the same level as in the prior year. The adjusted operating income amounted to SEK 19.4 billion (21.9), with a margin of 13.9% (15.4). Lower volumes and our increased investments in R&D affected margins negatively, while carry-over from the price increases we implemented during last year continued to have a positive effect. Our service business grew by 5% adjusted for currency. On a rolling 12 month basis the service business generated revenues of SEK 130.3 billion,” says Martin Lundstedt, President and CEO.
An online presentation of the report, followed by a question-and-answer session, was broadcast at 9.00 a.m. CEST. The Volvo Group was represented by President and CEO Martin Lundstedt and CFO Mats Backman. Access the replay.
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