Volvo Truck Q3 Report 2023

• In Q3, net sales increased by 13% adjusted for currency and amounted to SEK 89,848 M
• Adjusted operating income increased to SEK 14,038 M (7,307) with a margin of 15.6% (9.7)
• Order intake decreased by 27% while deliveries increased 4%

In Q3 2023, the truck operation’s net sales amounted to SEK 89,848 M, which was 20% higher than in Q3 2022. Excluding currency effects, net sales increased by 13% with sales of vehicles increasing by 16% and sales of services by 5%.

In Q3 2023, adjusted operating income increased to SEK 14,038 (7,307), corresponding to an adjusted operating margin of 15.6% (9.7). Adjusted operating income excludes a negative effect of SEK 640 M from a loss on the divestment of the Russian entities. For more information on adjusted operating income, see note 6.

Compared with Q3 2022, the higher adjusted operating income is an effect of price realization whereas higher production costs as well as increased R&D and selling expenses had a negative impact. Compared with Q3 2022, currency movements had a positive impact of SEK 872 M.

Reported operating income amounted to SEK 13,397 M (7,539).