AB Volvo’s convincing report

AB Volvo’s Q1 report carried a number of millstones: turnover fell by 4 percent, currency effects cost almost SKr 400 million in turnover, and truck production in North America was cut by a third.

Nevertheless operating turnover amounted to SKr 4.5 billion and the operating margin was 6.2% adjusted for capital gains and last year’s restructuring costs. Within sales, buses and Penta shone with 14% and 5% respective increases in organic turnover.

For the first time former Scania boss Martin Lundstedt revealed that service and reserve parts contributed 23% to the company’s turnover.