“In the third quarter, profitability improved slightly as better underlying performance offset the impact from lower volumes. Sales decreased by 6% to SEK 69 billion. The adjusted operating income amounted to SEK 4.8 billion, corresponding to an operating margin of 7.0% due to a positive cost development and a strong European truck market,” says Martin Lundstedt, President and CEO.
- In Q3 2016 net sales decreased by 6% to SEK 68.8 billion (73.3). When adjusted for currency movements and acquired and divested units the sales decrease was also 6%.
- Adjusted operating income in Q3 2016 amounted to SEK 4,846 M (5,087), corresponding to an operating margin of 7.0% (6.9). Adjusted operating income excludes a provision for the settlement with the European Commission of SEK 190 M in Q3 2016 and restructuring charges of SEK 434 M in Q3 2015.
- Currency movements had a negative impact on operating income of SEK 45 M.
- Operating cash flow in the Industrial Operations was positive in an amount of SEK 2.1 billion (neg. 3.3).