Volvo increases operating profit by 32%Automotive News
During the first quarter the brand obtained 729 million euros.
The Volvo group earned operating profit of € 729 million during the first three months of the year, which is a 32% increase over the previous year in the same period of time.
The profit improvements come from all business areas, especially from the Trucks and Volvo CE divisions. According to the president and CEO of the Swedish company, Martin Lundstedt, adjusted operating margin increased by 9.1%.
During the first quarter, the brand increased both sales by 8% to 77.4 billion, and business profitability.
Although the volume of sales of heavy and medium-weight trucks fell by 4%, construction equipment increased by 34%.
Industrial operations provided Volvo Group with an operating cash flow of 156 million in the first three months of the year.
EXPANSION – FOR EUROPE PRESS – Madrid – 04/25/2017 (Translation Soft)