Volvo Group Q4 Adj. Operating Profit Rises; Adj. Net Sales Up 17%

The Volvo Group (VOLVY.PK) reported that its fourth quarter adjusted operating income increased to 12.17 billion Swedish kronor from 10.06 billion Swedish kronor, last year. Adjusted operating margin was 9.1% compared to 9.8%. The Group noted that its adjusted operating income excludes costs of 630 million kronor relating to claims arising from the European Commission's 2016 antitrust settlement decision.

Income for the period declined to 6.69 billion kronor from 8.07 billion kronor. Earnings per share was 3.26 kronor compared to 3.93 kronor.

Fourth quarter net sales increased by 31% to 134.3 billion kronor from 102.4 billion kronor. Adjusted for currency movements, the increase was 17%, of which vehicle sales increased by 19% and service sales by 11%.

The Board of Directors proposed an ordinary dividend of 7.00 Swedish kronor per share and an extra dividend of 7.00 kronor per share.

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