Volvo Group - six months ended June 30, 2007

Volvo Group - six months ended June 30, 2007

·  Net sales increased by 5% to SEK 71.4 billion (68.0) in the second quarter
Adjusted for changes in exchange rates, and acquired and divested units,net
sales decreased by 1%
·  Operating income decreased by 6% to SEK 6.119 M (6.539) in the second quarter
·  Income for the period decreased by 14% to SEK 4.030 M (4.680) in the second
quarter
·  Diluted earnings per share amounted to SEK 1.98 (2.31) in the second quarter
·  The Industrial Operation's operating cash flow amounted to SEK 6.1 billion
(6.0) in the second quarter
·  Nissan Diesel and Ingersoll Rand Road Development consolidated in the Volvo
Group for the first time in the second quarter

Volvo Group                                                  
                Second quarter                First six months
                   2007        2006        2007        2006       Change
Net sales
Volvo Group      71,446      67,994     132,482     130,729           1%
Operating
income
Volvo Group       6,119       6,539      11,447      11,969         (4%)
  Operating
income
Industrial
operations        5,698       6,055      10,631      11,081         (4%)
  Operating
income
Customer
Finance             421         484         816         888         (8%)
Operating
margin
Volvo Group         8.6         9.6         8.6         9.2             
Income
after
financial
items             5,970       6,457      11,377      11,929         (5%)
Income for
the period        4,030       4,680       7,786       8,678        (10%)
Diluted
earnings
per share,
SEK                1.98        2.31        3.83        4.27             
Return on shareholders'
equity last 12 months,
%                                          17.9        18.6  

Contacts
Investor Relations: 
Christer Johansson  +46 31 66 13 34
Joakim Wahlström    +46 31 66 11 91
Patrik Stenberg     +46 31 66 13 36
John Hartwell       +1 212 418 7432
Noah Weiss          +1 212 418 7431