Volvo Group Q2 Profit Rises, Adj. Operating Income Down

(RTTNews) - Swedish commercial vehicle major AB Volvo (VOLVY.PK) reported Thursday that its second-quarter income amounted to 15.58 billion Swedish kronor, higher than last year's 10.82 billion kronor.

Earnings per share grew to 7.65 kronor from prior year's 5.30 kronor.

Adjusted operating income amounted to 19.45 billion kronor, down from last year's 21.86 billion kronor. The corresponding adjusted operating margin fell to 13.9 percent from prior year's 15.4 percent.

Net sales were 140.25 billion kronor, slightly lower than last year's 140.69 billion kronor. When adjusted for currency movements, net sales were flat.

Sales increased in North America and South America but decreased in Europe, Asia and Africa & Oceania.

Trucks' net order intake fell to 47,760 units from last year's 48,308 units. The company delivered 58,935 trucks in total, which was 8 percent fewer than the year before, with deliveries of heavy-duty trucks being on par with last year

Construction equipment's order intake increased 9 percent driven by North America and China. Deliveries of construction machines declined by 10 percent in total, impacted by lower deliveries in both Europe and North America.

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