Volvo Group - the fourth quarter and full year 2022

GOTHENBURG, Sweden, Jan. 26, 2023 /PRNewswire/ -- "In 2022, the Volvo Group delivered strong growth as well as good profitability and cash flow. For the full year, we increased net sales by over SEK 100 billion to SEK 473 billion and the adjusted operating income to SEK 50.5 billion (41.0). The adjusted operating margin amounted to 10.7% (11.0). We generated a strong operating cash flow of SEK 35.3 billion (29.4) and ended the year with a net cash position of SEK 73.9 billion in the Industrial Operations, pension and lease liabilities excluded. Our strong finances mean that we can continue to provide a good return to our shareholders and at the same time invest in the transformation of our industries. The Board of Directors proposes an ordinary dividend of SEK 7.00 per share and an extra dividend of SEK 7.00 per share," says Martin Lundstedt, President and CEO.

THE FOURTH QUARTER 2022           

• In Q4 2022, net sales increased by 31% to SEK 134.3 billion (102.4). Adjusted for currency movements the increase was 17%.
• Adjusted operating income amounted to SEK 12,171 M (10,060), corresponding to an adjusted operating margin of 9.1% (9.8). Adjusted operating income excludes costs of SEK 630 M relating to claims arising from the European Commission's 2016 antitrust settlement decision.          
• Reported operating income amounted to SEK 11,541 M (10,219).           
• Currency movements had a positive impact on operating income of SEK 1,826 M.           
• Earnings per share amounted to SEK 3.26 (3.93).           
• Operating cash flow in the Industrial Operations amounted to SEK 18,918 M (23,579).

THE FULL YEAR 2022          

• Full year net sales were SEK 473.5 billion (372.2).           
• Adjusted operating income amounted to SEK 50,467 M (41,015) with an adjusted operating margin of 10.7% (11.0).           
• Reported operating income amounted to SEK 45,712 M (43,074).           
• Earnings per share were SEK 16.09 (16.12).           
• Operating cash flow in the Industrial Operations amounted to SEK 35,327 M (29,440).           
• Return on capital employed in the Industrial Operations amounted to 27.4% (25.3).           
• The Board of Directors proposes an ordinary dividend of SEK 7.00 per share and an extra dividend of SEK 7.00 per share.

Press and Analyst Conference Call. An online presentation of the report, followed by a question and answer session will be webcasted, starting at 09.00 CET. 

More information, including an interview with CEO Martin Lundstedt, is available on www.volvogroup.com/en/investors.html

January 26, 2023

Aktiebolaget Volvo (publ) 556012-5790
Investor Relations
SE-405 08 Göteborg, Sweden
Tel +46 31 66 00 00
www.volvogroup.com

Contact Media Relations:
Claes Eliasson    +46 765 53 72 29

Contacts Investor Relations:
Christer Johansson  +46 739 02 25 22
Johan Bartler    +46 739 02 21 93
Anders Christensson  +46 765 53 59 66

This information is information that AB Volvo (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.20 CET on January 26, 2023.

For more information, please visit volvogroup.com
For frequent updates, follow us on Twitter: @volvogroup

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs almost 95,000 people and serves customers in more than 190 markets. In 2021, net sales amounted to SEK 372 billion (EUR)

The following files are available for download:

SOURCE AB Volvo