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Volvo Q2: demand favourable, income down
01 Aug 2007
Net sales for the six months ended June 30, 2007, increased by 5% to SEK71.4bn. Adjusted for changes in exchange rates, and acquired and divested units, net sales decreased by 1%.
Volvo says its results reflect an anticipated weaker market in North America and Japan. The group's operating income decreased by 6% to SEK6.12m in the second quarter and income for the period decreased by 14% to SEK4.03m. Translated to diluted earnings per share, this amounted to SEK1.98.
Volvo Penta's business segment reports a continued good profitability, as sales development in Europe increased by 14% compared to the same period last year. In total, Volvo Penta sales rose by 10% to SEK3.22bn compared to the second quarter of 2006. The segment's operating margin stands at 13.8%.
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