Volvo Group - the second quarter 2021

GOTEBORG, Sweden, July 20: "During Q2 2021, demand for the Volvo Group's products and services continued to be good. Net sales amounted to SEK 90.6 billion and we delivered an adjusted operating income of SEK 9.7 billion. In a quarter when shortages of semiconductors as well as other production materials resulted in substantial production stoppages affecting both volumes and costs negatively, we achieved an adjusted operating margin of 10.7%," says Martin Lundstedt, President and CEO. In Q2 2021, net sales increased by 24% to SEK 90.6 billion (73.2). Adjusted for currency movements and the divestment of UD Trucks, net sales increased by 43%. Adjusted operating income amounted to SEK 9,730 M (3,272), corresponding to an adjusted operating margin of 10.7% (4.5). Reported operating income amounted to SEK 11,384 M (388). Currency movements had a negative impact on operating income of SEK 1,532 M. Earnings per share amounted to SEK 4.38 (-0.14). Operating cash flow in the Industrial Operations amounted to SEK 5,932 M (-5,718). On April 1, 2021, the Volvo Group divested UD Trucks. To facilitate the comparability of the Group's financial performance between the periods, certain items of interest are presented excluding UD Trucks. The proceeds from the divestment of UD Trucks, SEK 19 billion, were distributed to the shareholders in July. Volvo Group, Daimler Truck and the Traton Group signed a non-binding agreement to install and operate a high-performance public charging network across Europe. www.volvogroup.com

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