Press release
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may 02, 2018 - Volvo Cars
Volvo Cars’ first-quarter 2018 operating profit rises 3.6 per cent to SEK 3,616 million
Volvo Cars, the premium car maker, today reports its financial result for the first quarter of 2018. Highlights from the financial report include the following:
First quarter:
- Operating profit of MSEK 3,616, an increase of 3.6 per cent compared with Q1 2017
- Net revenue up to MSEK 56,813, up 18.9 per cent versus Q1 2017
- Net income of MSEK 2,558 , a decrease of 1.8 per cent compared to Q1 2017
- EBIT margin 6.4 per cent, versus 7.3 per cent in Q1 of 2017
- Global first-quarter retail sales up 14.1 per cent to 147,407 cars
Outlook for 2018:
- Volvo expects the worldwide passenger car market to grow and the premium segment to continue to develop positively
- Volvo Cars expects continued growth in revenue and retail sales supported by our renewed product portfolio, as well as incremental sales of the XC40
- Volvo expects profits to remain strong based on an improved model mix following the completion of the roll out of SPA cars and the introduction of the XC40
- Profit is expected to be partly impacted by increased expenses related to continued focus on marketing, R&D and digitalisation
The full financial report can be found on the Volvo Cars Investor Relations website.
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