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The Volvo Group multiplies its net profit in the first half of the year

18,008 million euros invoiced

Updated Tuesday, July 20, 2021 – 11:50

The 1,763 million represent 275% more than in the first half of 2020, which had exceptionally low results due to the start of the pandemic.

Martin Lundstedt, President and CEO of the Volvo Group. Volvo Manufacturing controls all processes Spain “Only 3% of Volvo’s sales are diesel”

The Volvo industrial group posted a net profit of 18,068 million Swedish crowns (about 1,763 million euros at the current exchange rate) during the first half of this year, which means multiplying by four (+ 275%) the results of the same period of 2020, when the coronavirus crisis had already affected most countries in the world.

Thus, the income of the company stood at 184,579 million Swedish crowns (18,008 million euros), a 12.1% ms than the 164,676 million crowns (16,066 million euros) that invoiced between January and June of the previous year.

In this way, the operating profit of the Volvo Group amounted to 23,451 million crowns (2,288 million euros), multiplying by three compared to the first six months of 2020, while its Adjusted operating profit was 21,551 million crowns (2,102 million euros), 106% more.

Sales and Orders

Among other information, the signature delivered 98,114 vehicles in the first semester, 34.7% more, while its total orders amounted to 143,422 units, 120% more.

Just in the second trimester, the Volvo Group’s net profit was SEK 9,064 million (€ 884 million), well above the SEK 44 million (€ 4.3 million) it earned between April and June 2020.

For its part, its revenues in the second quarter reached 90,561 million crowns (8,835 million euros), 23.7% more, after selling 45,670 vehicles, 63% more.

“During the second trimester, demand for the Volvo Group’s products and services remained good“, has claimed the president and CEO of the company, Martin Lundstedt, who has indicated that the semiconductor shortage forced to stop production, affecting volumes and costs.

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