“In Q3 2019 we increased our sales and continued to deliver solid profitability. Sales reached SEK 99 billion (92), the operating income improved to SEK 10.9 billion (10.2) and the operating margin amounted to 11.0% (11.1).
Our service revenues were stable in the quarter, as a result of continued good activity levels and fleet utilization among our customers. On the other hand, demand for new vehicles is declining and we are facing a period of tougher market conditions,” says Martin Lundstedt, President and CEO.
- In Q3 2019, net sales increased 7% to SEK 98.7 billion (92.3). Adjusted for currency movements, net sales increased by 2%.
- Both adjusted and reported operating income amounted to SEK 10,885 M (10,247), corresponding to an operating margin of 11.0% (11.1).
- Currency movements had a positive impact on operating income of SEK 1,273 M.
- Diluted earnings per share amounted to SEK 3.67 (3.67).
- Operating cash flow in the Industrial Operations amounted to SEK 1,831 M (1,316).
Press and Analyst Conference. An on-line presentation of the report, followed by a question-and-answer session will be webcast starting at 09.00 CET. More information under Investors on www.volvogroup.com