Volvo Group – report on the first quarter 2011

During the first quarter of 2011, the Volvo Group had strong sales growth with significantly improved profitability. Sales amounted to SEK 72 billion, an increase of 22% compared with the year-earlier period. Operating income rose to SEK 6.5 billion, with an operating margin of 9.1%.

  • In the first quarter, net sales increased by 22% to SEK 71.6 billion (58.6). Adjusted for currency movements, sales increased by 33%
  • Highest ever operating income and operating margin for a first quarter
  • The first quarter operating income amounted to SEK 6.5 billion (2.8). Operating margin in the first quarter was 9.1% (4.8). Compared to the first quarter of 2010, changes in exchange rates had a negative impact of approximately SEK 1.3 billion
  • Operating income was positively affected by recognition of VAT credits corresponding to SEK 590 M and negatively affected by disturbances in the Japanese business estimated at SEK 250 M
  • In the first quarter, basic and diluted earnings per share amounted to SEK 2.01 (0.83)
  • In the first quarter, operating cash flow in the Industrial Operations was negative in an amount of SEK 4.0 billion (negative SEK 2.7 billion) reflecting normal seasonality

“We note that our mature markets are recovering, with continuing sharp sales increase and favorable profitability in our operations in the emerging markets of Brazil, China and India.” Leif Johansson, President and CEO.

For an English PDF version of the report, please click here: Volvo Group Q1 2011 PDF

For an English web version of the report please click here: Volvo Group Q1 2011 HTML

For a mobile version of the report please click here: Volvo Group Q1 2011 Mobile

Aktiebolaget Volvo (publ) 556012-5790 Contacts Investor Relations:  
Investor Relations, VHQ Christer Johansson +46 31 66 13 34
SE-405 08 Göteborg, Sweden Patrik Stenberg +46 31 66 13 36
Tel +46 31 66 00 00 Anders Christensson +46 31 66 11 91 John Hartwell +1 212 418 7432


About Us

The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The headquarter is located in Gothenburg, Sweden.


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