Volvo Q2 net sales decreased 39%Christian Fernsby ▼ | July 18, 2020
Volvo Q2 net sales decreased by 39% to SEK 73.2 billion.
Volvo In Q2 2020, net sales amounted to SEK 73.2 billion
In Q2 2020, net sales amounted to SEK 73.2 billion (120.7). Adjusted for currency movements, net sales decreased by 38%.
Adjusted operating income amounted to SEK 3,272 M (15,105), corresponding to an adjusted operating margin of 4.5% (12.5).
Reported operating income amounted to SEK 388 M (15,105).
Operating income in Q2 includes restructuring charges of SEK 3,200 M related to the previously announced cost-reduction measures, which are expected to generate annual savings in the same magnitude with the majority taking effect during the first half of 2021.
Currency movements had a positive impact on operating income of SEK 341 M.
Diluted earnings per share amounted to SEK -0.14 (+5.47).
Operating cash flow in the Industrial Operations was negative in an amount of SEK 5,718 M (positive SEK 13,867 M). ■