Volvo Group –nine months ended September 30, 2008

· Net sales increased by 2% to SEK 69.6 billion (68.4) in the third
quarter
· In the third quarter, operating income declined by 37% to SEK 3,177 M
(5,010)
· In the third quarter, basic and diluted earnings per share declined
by 36% to SEK 0.98 (1.54)
· Operating cash flow in Industrial operations was negative in amount
of SEK 6.1 billion (neg. 0.4)
· Significant impact from increased costs for raw materials and
components
· Increased research and development efforts ahead of new emission
regulations and for hybrid projects
· Slowdown in demand and restructuring costs

Volvo Group
Third quarter First nine months

2008 2007 2008 2007 Change, %

Net sales
Volvo Group,
SEK M 69,604 68,367 226,713 200,849 13

Operating
income Volvo
Group, SEK M 3,177 5,010 16,850 16,457 2

Operating
income
Industrial
operations,
SEK M 2,786 4,555 15,691 15,186 3

Operating
income
Customer
Finance,SEK M 391 454 1,159 1,270 (9)

Operating
margin Volvo
Group, % 4.6 7.3 7.4 8.2

Income after
financial
items, SEK M 2,898 4,571 16,520 15,948 4

Income for
the period,
SEK M 2,000 3,149 11,364 10,935 4

Diluted
earnings per
share, SEK 0.98 1.54 5.58 5.37

Return on
shareholders'
equity,
rolling 12
months, % 18.9 17.3



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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