7/18/2019, 7:42 AM (Source: TeleTrader)
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Volvo Group net sales rise 16% to €11.5B in Q2

Volvo Group said on Thursday that its net sales in the second quarter of 2019 amounted to 120.7 billion Swedish kronor (€11.52 billion), rising 16% year-on-year. Earnings per share rose to 5.47 SEK from 4.53 SEK in the same quarter a year ago while operating income rose from 12.3 billion SEK in the second quarter of 2018 to 15.1 billion in the same period this year.

CEO Martin Lundstedt said: In Q2 2019 the Volvo Group continued on the path of increased sales and improved profitability. Both our net sales of SEK 121 billion and adjusted operating income of SEK 15.1 billion were the highest we have had in a quarter so far. We improved the adjusted operating margin to 12.5%. Increased vehicle volumes were the main contributor to the profit improvement. Operating cash flow in the Industrial Operations increased to SEK 13.9 billion."

Breaking the News / VP