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Volvo Cars’ first quarter 2018 operating profit rises 3.6 per cent to SEK 3,616 million

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Volvo Cars, the premium car maker, today reports its financial result for the first quarter of 2018. Highlights from the financial report include the following:

First quarter:

  • Operating profit of MSEK 3,616, an increase of 3.6 per cent compared to Q1 2017
  • Net revenue up to MSEK 56,813, up 18.9 per cent versus Q1 2017
  • Net income of MSEK 2,558 , a decrease of 1.8 per cent compared to Q1 2017
  • EBIT margin 6.4 per cent, versus 7.3 per cent in Q1 of 2017
  • Global first-quarter retail sales up 14.1 per cent to 147,407 cars

Outlook for 2018:

  • We expect the worldwide passenger car market to grow and the premium segment to continue to develop positively
  • Volvo Cars expects continued growth in revenue and retail sales supported by our renewed product portfolio, as well as incremental sales of the XC40
  • We expect profits to remain strong based on an improved model mix following the completion of the roll out of SPA cars and the introduction of the XC40
  • Profit is expected to be partly impacted by increased expenses related to continued focus on marketing, R&D and digitalisation

The full financial report can be found HERE on the Volvo Cars Investor Relations website.

Nils Mösko, VP & Head of Investor Relations
Volvo Car Group
SE-405 31 Göteborg, Sweden
Telephone: +46 (0)31 32 52 169
investors@volvocars.com 
www.volvocars.com

This information is information that Volvo Car AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 06.00 CET on 27 Apr 2018.

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About Volvo Car Group
Volvo has been in operation since 1927. Today, Volvo Cars is one of the most well-known and respected car brands in the world with sales of 571,577 cars in 2017 in about 100 countries. Volvo Cars has been under the ownership of the Zhejiang Geely Holding (Geely Holding) of China since 2010. It formed part of the Swedish Volvo Group until 1999, when the company was bought by Ford Motor Company of the US. In 2010, Volvo Cars was acquired by Geely Holding.

As of December 2017, Volvo Cars had over 38,000 employees worldwide. Volvo Cars head office, product development, marketing and administration functions are mainly located in Gothenburg, Sweden. Volvo Cars head office for China is located in Shanghai. The company’s main car production plants are located in Gothenburg (Sweden), Ghent (Belgium), Chengdu and Daqing (China), while engines are manufactured in Skövde (Sweden) and Zhangjiakou (China) and body components in Olofström (Sweden).

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