Volvo Cars' Third-Quarter 2017 Operating Profit Rises 77.5 Per Cent To Sek 3.7 Billion

October 27, 2017 by Volvo

Volvo Cars, the premium car maker, today reports its financial result for the third quarter and first nine months of 2017. Highlights from the financial report include the following:

Third quarter:

•Operating profit of MSEK 3,669, an increase of 77.5 per cent compared with Q3 2016

•Net revenue up to MSEK 48,880, up 18.4 per cent versus Q3 2016

•Net income of MSEK 2,513, an increase of 89.4 per cent compared with Q3 2016

•EBIT margin of 7.5 per cent, versus 5.0 per cent in the third quarter of 2016

•Global third-quarter retail sales up 10.6 per cent to 135,831 cars

First nine months:

•First nine months operating profit of MSEK 10,445, an increase of 36.4 per cent compared with the same period in 2016

•Net revenue for first nine months of MSEK 149,250, up 18.9 per cent versus first nine months of 2016

•First nine months net income of MSEK 7,262, an increase of 42.1 per cent year-on-year

•EBIT margin of 7.0 per cent, compared with 6.1 per cent in the first nine months of 2016

•Global retail sales for first nine months up 9.0 per cent to 413,472 cars

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Outlook:

•The company expects to report a fourth consecutive global sales record for the full year

The full financial report can be found HERE (http://www.newspress.co.uk/downloads/original/517907/215863_Volvo_Car_Group_Interim_report_third_quarter_and_first_nine_months_2017.pdf) and on the Volvo Cars Investor Relations website. (https://investors.volvocars.com/)