Earnings recovery in the second quarter 2013
The Volvo Group Report on first six months was published on July 24, 2013 at 7.20 CET.
The Volvo Group’s sales for the second quarter of 2013 recovered considerably compared with the first quarter of 2013 and amounted to SEK 72.8 billion, up 25%.
“Profitability also improved thanks to higher sales volumes and better capacity utilization in our plants. Despite having to increase our warranty reserves by SEK 900 M for legacy truck quality issues, operating income totaled SEK 3.3 billion, corresponding to an operating margin of 4.5% compared with 0.8% in the first quarter”, says Volvo President and CEO Olof Persson.