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1/30, 7:27 AM (Source: TeleTrader)
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Volvo Cars Q4 operating profit at €870M

Volvo Car Group said on Thursday that its adjusted operating income for the fourth quarter of 2019 was 9.22 billion kronor (€870 million), 7.5% better than in the same quarter a year ago. Net sales for the quarter were almost unchanged at 105.4 billion kronor. The Board of Directors proposed an extra dividend of 7.50 kronor per share, next to an ordinary dividend of SEK 5.50 per share.

Diluted earnings per share surged 160% to 3.27 kronor, while the operating cash flow in the Industrial Operations increased to 19.9 billion kronor for the fourth quarter. Also, it is said that Volvo Group and Isuzu Motors plan to form a strategic alliance.

"2019 was another good year for the Volvo Group. We grew net sales by 11% to SEK 432 billion and improved our adjusted operating income to SEK 47.9 billion (40.7), with a margin of 11.1% (10.4). During the year we also continued to increase our financial strength. With an operating cash flow of SEK 38.3 billion, we ended the year with a net cash position of SEK 62.6 billion in Industrial Operations, excluding pension and lease liabilities. Our increased profitability and strong financial position allow us to invest in our future as well as return cash to our shareholders," said Martin Lundstedt, President and CEO.

Breaking the News / TF