Volvo Group – the first quarter 2015

In the first quarter of 2015 the effects of the Volvo Group’s strategic
efficiency-improvement program continued to generate results. In several areas
of the Group margins were improved, despite a negative market mix with
significantly lower volumes in Brazil for trucks and in China for construction
equipment.

  · In the first quarter net sales amounted to SEK 74.8 billion (65.6). Adjusted
for currency movements and acquired and divested units sales decreased by 1%.
  · Operating income amounted to SEK 7,066 M (2,588) excluding restructuring
charges of SEK 229 M (318). Operating income includes a positive impact of SEK
2,471 M from the sale of shares in Eicher Motors Limited. Currency exchange
rates had a positive impact of SEK 1,282 M.
  · Operating income excluding restructuring charges and the capital gain from
the sale of shares amounted to SEK 4,595 M (2,588), corresponding to an
operating margin of 6.1% (3.9).
  · Operating cash flow in the Industrial Operations amounted to SEK –1.7
billion (–9.0).
  · Net financial debt in the Industrial Operations amounted to 23% of equity.
  · Truck order intake increased by 3% while order intake of construction
equipment decreased by 24%.
  · Acquisition of 45% of Dongfeng Commercial Vehicles completed.

Press and Analysts Conference 09.00 AM CET. An on-line presentation of the
report, followed by a question-and-answer session will be webcast at 09.00 CEST.

Conference call for investors and analysts 3.00 PM CEST.

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
                    John Hartwell                   +1 201 252 8844
www.volvogroup.com
For more stories from the Volvo Group, please visit
http://www.volvogroup.com/globalnews.

The Volvo Group is one of the world’s leading manufacturers of trucks, buses,
construction equipment and marine and industrial engines. The Group also
provides complete solutions for financing and service. The Volvo Group, which
employs about 115,000 people, has production facilities in 19 countries and
sells its products in more than 190 markets. In 2012 the Volvo Group’s sales
amounted to about SEK 304 billion. The Volvo Group is a publicly-held company
headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic
Exchange Stockholm. For more information, please visit www.volvogroup.com or
www.volvogroup.mobi if you are using your mobile phone.
Volvo Group – the first quarter 2015

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