Volvo Cars Q1 Results: Stable start to 2023, as company continues delivering on ongoing transformation with improved earnings
· Q1 revenue was SEK 95.7 bn (SEK 74.3 bn in Q1 2022) · Q1 operating income was SEK 5.1 bn (SEK 6.0 bn in Q1 2022) · Q1 operating income (excluding JVs and associates) was SEK 6.3 bn (SEK 5.9 bn in Q1 2022) · Q1 EBIT margin was 5.3 per cent (8.1 per cent in Q1 2022) · Q1 EBIT margin (excluding JVs and associates) was 6.6 per cent (7.9 per cent in Q1 2022) · Q1 basic earnings per share was SEK 1.21 (SEK 1.29 in Q1 2022) · Q1 fully electric car sales share at 18 per cent (8 per cent in Q1 2022) Volvo Cars today reports a 7 per cent increase in operating profits,