Volvo Group – the fourth quarter and full year 2012
GÖTEBORG, Sweden -- February 6, 2013
In the fourth quarter the Volvo Group’s net sales declined to SEK 71.8 billion
(86.5) as a result of lower economic activity in many of our markets and a
continued uncertainty about the future direction that makes our customers more
cautious. However, overall we have maintained our market positions with some
regional variations. Operating income declined to SEK 1,121 M (6,955). For the
full-year 2012, the Volvo Group’s net sales amounted to SEK 303.6 billion
(310.4) with an operating income of SEK 17.6 billion (26.9) and an operating
margin of 5.8% (8.7).
*In the fourth quarter, net sales decreased by 17% to SEK 71.8 billion
(86.5). Adjusted for currency movements and acquired and divested units,
sales decreased by 12%.
*The fourth quarter operating income amounted to SEK 1,121 M (6,955)
including restructuring charges of SEK 990 M and a positive impact of SEK
254 M from the divestment of Volvo Aero.
*Operating margin in the fourth quarter was 1.6% (8.0).
*In the fourth quarter, basic and diluted earnings per share were SEK 0.39
*In the fourth quarter, operating cash flow in the Industrial Operations
was positive in an amount of SEK 4.7 billion (10.7) primarily driven by a
SEK 5.4 billion reduction in inventories.
*Net financial debt reduced by SEK 12 billion and equal to 29% of equity in
the Industrial Operations.
*The Board of Directors proposes a dividend of SEK 3.00 per share (3.00).
*Volvo Group to become world’s largest heavy-duty truck manufacturer
following strategic alliance with Chinese company Dongfeng Motor Group.
“On a Group level the first quarter of 2013 will also be difficult as a result
of the low order intake in many markets during the fourth quarter of 2012.
Profitability will be affected by low capacity utilization, high spend levels
in research and development and costs associated with the launch of new
products. However, we expect market conditions to gradually improve during the
course of 2013 when economic growth across the world gains momentum.” Olof
Persson, President and CEO.
For an English PDF version of the report, please click here: Volvo Group Q4
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Anders Christensson +46 31 66 11 91
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