Sweden. Volvo Group announces thried quarter net sales increase of 9 percent Print E-mail
Wednesday, 25 October 2006
Company news:

Net sales increased by 9% to SEK 57,426 M (52,532) in the third quarter; Income for the period rose 34% to SEK 3,939 M (2,935) in the third quarter; Basic earnings per share rose to SEK 9.70 (7.24) in the third quarter; Operating income excluding adjustment of goodwill rose 24% to SEK 4,972 M (4,004) in the third quarter and the operating margin rose to 8.7% (7.6)

Increased profitability within Mack Trucks resulted in a reversal of a valuation reserve for deferred tax receivables and an adjustment of goodwill. In total, this had a positive impact of SEK 336 M on income for the period.

Operating cash flow, excluding Financial Services, in the third quarter was negative in an amount of SEK 0.4 billion (neg. SEK 0.7 billion)

Strengthened position in Asia through increased holdings in Nissan Diesel and an agreement to acquire 70% of Lingong, a Chinese manufacturer of wheel loaders.

As of January 1, 2005 AB Volvo complies with International Financial Reporting Standards (IFRS), previously known as IAS, as adopted by the European Union. In the comments on earnings, Volvo Financial Services is reported in accordance with the equity method.
Last Updated ( Wednesday, 25 October 2006 )
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