Volvo Truck Half-Year Report 2023
All-time high profitability
- In Q2, net sales increased by 19% to SEK 93,748 M
- Adjusted operating income increased to SEK 14,950 M (9,551) with a margin of 15.9% (12.2)
- Deliveries increased by 5% while order intake decreased by 10%
In Q2 2023, the truck operation’s net sales amounted to SEK 93,748 M, which was 19% higher than in Q2 2022. Excluding currency effects, net sales increased by 12% with sales of vehicles increasing by 13% and sales of services by 8%.
Adjusted operating income increased to SEK 14,950 (9,551), corresponding to an adjusted operating margin of 15.9% (12.2). Adjusted operating income excludes costs of SEK 6,000 M relating to claims arising from the European Commission’s 2016 antitrust settlement decision. For more information, please see Legal Proceedings in Note 2. There were no adjustments in Q2 2022. For more information on adjusted operating income.
Compared with Q2 2022, the higher adjusted operating income is primarily an effect of price realization, which was partly offset by increased material costs and R&D expenses as well as lower production efficiency. Compared with Compared with Q2 2022, currency movements had a positive impact of SEK 633 M. Reported operating income amounted to SEK 8,950 M (9,551).