– We now have a normalization of the market with partially declining volumes, but despite that we are performing sales that are in line with the previous year, continues Lundstedt.
AB Volvo reports a profit before tax of SEK 13.8 billion for the first quarter of the year. This can be compared with the profit of SEK 13 billion during the corresponding quarter last year.
The adjusted operating profit fell marginally to SEK 18.2 billion from SEK 18.6 billion a year earlier. Analysts had expected a decline to 17.2 billion, according to Bloomberg.
Turnover fell marginally to 131.2 billion kroner from 131.3 a year earlier. This can be compared with an average forecast of ¥129.5 billion.
Order intake during the first quarter of the year fell to 48,701 trucks against 60,040 a year earlier. The delivery volume during the quarter fell to 55,470 compared to 61,531 a year earlier.
“It is in line with the expectations we had. We have had a ketchup effect after the pandemic, now we see a normalization of the market as we expected. We make adjustments after that.â€
Analysts had on average expected an order intake of roughly 50,300 trucks and a delivery volume of roughly 56,800 trucks during the quarter, according to Bloomberg.
– It is in line with the expectations we had. We have had a ketchup effect after the pandemic, now we see a normalization of the market as we expected. We make adjustments after that. It is rather a normalization to good levels, says Lundstedt.
The company leaves an unchanged forecast for Europe, North America and China, while seeing a decline in India and a weak rise for the Brazilian market.
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