Volvo Cars reports operating profit of SEK 14.2bn for 2018
Volvo Cars has reported an operating profit of SEK14.2 billion for 2018, an increase of 0.9 per cent compared with 2017. Net revenue increased strongly by 21 per cent to SEK252.7 billion, on the back of the company’s best ever annual sales of 642,253 cars, an increase of 12.4 per cent compared to 2017. The operating profit margin for the full year was 5.6 per cent, down from 6.7 per cent last year. “This result is in line with our expectations, but does not totally live up to our longer-term ambitions. Revenue growth and sales in 2018 were healthy, but profitability was affected by