Volvo’s divestment of properties in Gothenburg completed
Volvo Group has completed the previously announced sale of properties in the areas of Arendal, Torslanda and Säve in Gothenburg, Sweden to real estate company Platzer Fastigheter. The transaction results in a positive impact on the Group’s operating cash flow and net financial debt in the amounts of SEK 2.6 bn and SEK 2.3 bn, respectively.
The sales price amounted to SEK 2.7 bn on a debt free basis and the divestment results in a capital gain of SEK 1.5 bn, which will impact the Group’s operating income by the corresponding amount in the fourth quarter of 2016.
December 15, 2016
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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 Volvo Group, which employs about 100,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2015 the Volvo Group’s sales amounted to about SEK 313 billion (EUR 33,4 billion). The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com.