Volvo Q1 Profit Rises, Net Sales Edge Down

(RTTNews) - Swedish commercial vehicle major AB Volvo (VOLVY.PK) reported Wednesday that its first-quarter income attributable to owners amounted to 14.08 billion Swedish kronor, higher than last year's 12.91 billion kronor.

Earnings per share grew to 6.92 kronor from prior year's 6.35 kronor.

Operating income amounted to 18.16 billion kronor, higher than last year's 17.27 billion kronor.

Volvo Group's net sales amounted to 131.177 billion kronor, slightly lower than last year's 131.303 billion kronor. Sales increased in North America and South America but decreased in Europe, Asia and Africa and Oceania.

Adjusted for currency, net sales were on the same level as in last year.

In the quarter, the company delivered 55,470 trucks, 10 percent fewer than the prior year, net order intake declined 19 percent to 48,701 trucks.

Deliveries of 14,456 machines were on the same level as in the previous year, while order intake went up by 4 percent.

On April 11, Volvo Group announced that it will build a new heavy-duty truck manufacturing plant in Mexico to supplement the Group's U.S. Production. The plant is expected to be operational in 2026.

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