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Volvo Cars gained 747 million euros net until September, 42 percent more

Automotive News

The Swedish automaker Volvo Cars today posted a net profit of 7,262 million kronor (747 million euros) in the first nine months, up 42% year-on-year.

The result was marked by higher volumes, a positive sales mix and the sale of licenses, the firm, owned by China Geely, said in its balance sheet.

Net operating profit (EBIT) rose 36% to 10,445 million Swedish kronor (1,074 million euros).

Gross operating profit (EBITDA) was 19,312 million (1,986 million euros), up 25%.

The turnover amounted to 149,250 million (15,350 million euros), which represents a year-on-year increase of 19%.

The Swedish manufacturer sold 413,472 vehicles between January and September, 9% more than in the same period of 2016.

In the third quarter net profit rose 89% to 2,513 million Swedish crowns (258 million euros), driven by higher sales in all markets, especially the new S and V90 and XC60 models.

The ebit amounted to 3,669 million euros (377 million euros), 78% more; and ebitda, to 6,588 million (678 million euros), a 38% better.

Volvo Cars invoiced between July and September for 48,880 million euros (5,027 million euros), which means a year-on-year increase of 18%.

The Swedish company sold 135,831 cars in the third quarter, 11% more than a year ago.

EFE – Copenhagen – EL DIARIO – 10/27/2017 (Translation Soft)

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