Published on February 2nd, 2018 | by Daniel Sherman Fernandez0
Volvo Group just had its best year ever
2017 was a great year for the Volvo Group globally. This is the Swedish company that is producing and selling heavy equipment (truck, bus, farm, construction equipment) and not the car-selling Volvo Cars.
The Volvo Group achieved its highest sales and operating income in history. For the full year, we grew our net sales by 11% to SEK 335 billion and improved our operating to SEK 30.3 billion. Trucks, Construction Equipment, Volvo Penta and Financial Services all recorded their highest operating income ever. We also improved our profitability with an operating margin of 9.1%,” says Martin Lundstedt, President and CEO.
In Q4 2017 net sales increased by 11% to SEK 91.7 billion (82.6). Adjusted for currency movements and acquired and divested units sales increased by 16%.
Both adjusted and reported operating income amounted to SEK 7,334 M, corresponding to an operating margin of 8.0%. In Q4 2016, adjusted operating income amounted to SEK 5,660 M and the adjusted operating margin to 6.9%.
Currency movements had a negative impact on operating income of SEK 778 M.
Operating cash flow in the Industrial Operations amounted to SEK 14.4 billion (4.9).
For the full year 2017 net sales increased by 11% to SEK 334.7 billion (301.9). Operating income amounted to SEK 30,327 M (20,826) corresponding to an operating margin of 9.1% (6.9).