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Volvo Q2 net sales decreased 39%

Christian Fernsby ▼ | July 18, 2020
Volvo Q2 net sales decreased by 39% to SEK 73.2 billion.
Volvo
Volvo   In Q2 2020, net sales amounted to SEK 73.2 billion
Highlights

Topics: Volvo

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).


 

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