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AB Volvo's earnings higher than expected
Thursday, 26 April 2012
The vehicle manufacturer AB Volvo reports a profit before tax of
Skr5.602 million for the first quarter of 2012. This compares with
profit of Skr5.847 million a year ago.
Analysts had on average expected a profit of skr5.114 million,
according to Reuters. Turnover amounted to Skr78.838 billion, compared
to Skr71.577 million a year earlier.
writes in the press release that during the first quarter of 2012, the
Volvo Group’s sales development continued to be strong. Net sales rose
by 10 percent to Skr78.8 billion and was the highest so far for a first
quarter. The operating income of Skr 6.2 billion was on par with the
year-earlier period, adjusted for the nonrecurring items that impacted
the first quarter of both this year and last year.
The first quarter operating income amounted to Skr 6,239 M (6,522)
including a negative impact of Skr 66 M related to a dispute with the
Environmental Protection Agency in the US. Compared to the first
quarter of 2011, changes in exchange rates had a positive impact of SEK
See details here plus comment from the CEO Olof Persson
By Scancomark.se Team
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