Volvo reports Q2 EPS SEK 3.64 vs. SEK 7.65 last year

Reports Q2 revenue SEK 122.9B vs. SEK 140.2B last year. “In a quarter characterized by a general stabilization of the European market and more of uncertainty and a wait and see mode among customers in North America, the Volvo (VLVLY) Group’s net sales declined by 5% adjusted for currency movements and amounted to SEK 122.9 billion. Sales of vehicles were 6% lower than in Q2 2024 when adjusted for currency, while the underlying service development remained robust, supported by continued good utilization of vehicles and machines. Our service sales were on the same level as in the previous year when adjusted for currency, and on a rolling 12-month basis revenues in our service business amounted to SEK 126.3 billion. On the lower vehicle volumes, we generated an adjusted operating income of SEK 13.5 billion with an adjusted operating margin of 11.0%,” said Martin Lundstedt, president and CEO.