Volvo doubles net profit in Q2 to $1.5 bln, up one and a half times to $1.5 bln

07/19/2024

The second-largest truck manufacturer in the world, Swedish Volvo AB, reported a rise in net profit for the second quarter despite a little decline in adjusted operating profit and nearly constant revenue.

Ian Muttoo

The company's press statement reads that net profit increased from SEK 10.82 billion to SEK 15.58 billion ($1.48 billion) during the April–June period of last year.

The adjusted operating profit decreased from SEK20.73 billion to SEK19.45 billion. On this measure, the profit margin decreased from 15.4% to 13.9%.

Volvo's revenue for the quarter was 140.25 billion kronor, down from 140.69 billion kronor the previous year.

source: ft.com