In the first quarter of 2015 the effects of the Volvo Group’s strategic efficiency-improvement program continued to generate results. In several areas of the group margins were improved, despite a negative market mix with significantly lower volumes in Brazil for trucks and in China for construction equipment.
- In the first quarter net sales amounted to SEK 74.8 billion (65.6). Adjusted for currency movements and acquired and divested units sales decreased by 1%.
- Operating income amounted to SEK 7,066 M (2,588) excluding restructuring charges of SEK 229 M (318). Operating income includes a positive impact of SEK 2,471 M from the sale of shares in Eicher Motors Limited. Currency exchange rates had a positive impact of SEK 1,282 M.
- Operating income excluding restructuring charges and the capital gain from the sale of shares amounted to SEK 4,595 M (2,588), corresponding to an operating margin of 6.1% (3.9).
- Operating cash flow in the Industrial Operations amounted to SEK –1.7 billion (–9.0).
- Net financial debt in the Industrial Operations amounted to 23% of equity.
- Truck order intake increased by 3% while order intake of construction equipment decreased by 24%.
- Acquisition of 45% of Dongfeng Commercial Vehicles completed.
