Volvo Group – the first quarter 2013

The Volvo Group’s first quarter of 2013 was characterized by low sales volumes
and low capacity utilization, while we continued to keep a high pace in the work
to develop and launch new products. Net sales for the first quarter declined 25%
to SEK 58.3 billion, primarily as a result of the weak order intake in late
2012. The sales volumes were the lowest since the financial crisis and were on
the level of the first quarter of 2009. Then, the Volvo Group reported a loss of
SEK 4.5 billion, compared with a profit of SEK 0.5 billion for the first quarter
this year.

  ·
In the first quarter, net sales decreased by 25% to SEK 58.3 billion (77.8).
Adjusted for currency movements and acquired and divested units, net sales
decreased by 17%.

  ·
The first quarter operating income amounted to SEK 482 M (6,240).

  ·
Operating margin in the first quarter was 0.8% (8.0).

  ·
In the first quarter, diluted earnings per share were a negative SEK 0.15
(positive SEK 1.99).

  ·
In the first quarter, operating cash flow in the Industrial Operations was
negative in an amount of SEK 7.6 billion (negative SEK 4.9 billion).

  ·
Truck order intake increased by 30% compared to the fourth quarter of 2012.


“Despite uncertainty in the global economy, order intake has improved and we
have many new, competitive products on their way to the market. That being said,
the second quarter of 2013 will pose a challenge for us and our suppliers, with
respect to the changeover to new products and the ramp-up of the industrial
system to higher volumes. At the same time, we are focusing on our strategy with
all the important measures aimed at improving the overall profitability for the
Volvo Group.” Olof Persson, President and CEO.


For an English PDF version of the report, please click here: Volvo Group Q1 2013
PDF (http://www3.volvo.com/investors/finrep/interim/2013/q1/q1_2013_eng.pdf)

For an English web version of the report please click here: Volvo Group Q1 2013
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For a mobile version of the report please click here: Volvo Group Q1 2013
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Aktiebolaget Volvo  Contacts Investor Relations:
(publ) 556012-5790
Investor            Christer Johansson         +46 31 66 13 34
Relations, VHQ
SE-405 08           Patrik Stenberg                +46 31 66 13 36
Göteborg, Sweden
Tel +46 31 66 00    Anders Christensson       +46 31 66 11 91
00
www.volvogroup.com  John Hartwell                    +1 201 252 8844