“For the full year 2023, we increased net sales by almost SEK 80 billion to SEK 553 billion and the adjusted operating income to SEK 77.6 billion (50.5), with an adjusted operating margin of 14.0% (10.7). Return on capital employed in the Industrial Operations increased to 36.7% (27.4). We also generated a strong operating cash flow of SEK 45.8 billion (35.3) and ended the year with a net cash position of SEK 83.4 billion in the Industrial Operations, pension and lease liabilities excluded. Thanks to our strong finances, we can continue to provide a good return to our shareholders and at the same time invest in and seize opportunities in the ongoing industry transformation to more sustainable solutions. The Board of Directors proposes an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share,” says Martin Lundstedt, President and CEO.
The fourth quarter 2023
- In Q4 2023, net sales increased by 10% to SEK 148.1 billion (134.3). Adjusted for currency movements, the increase was 8%.
- Adjusted operating income amounted to SEK 18,384 M (12,171), corresponding to an adjusted operating margin of 12.4% (9.1). Adjusted operating income excludes negative effects of SEK 1,490 M.
- Reported operating income amounted to SEK 16,894 M (11,541).
- Currency movements had a positive impact on operating income of SEK 1,106 M.
- Earnings per share amounted to SEK 5.93 (3.26).
- Operating cash flow in the Industrial Operations amounted to SEK 22,655 M (18,918).
The full year 2023
- Full year net sales were SEK 552.8 billion (473.5).
- Adjusted operating income amounted to SEK 77,638 M (50,467) with an adjusted operating margin of 14.0% (10.7).
- Reported operating income amounted to SEK 66,784 M (45,712).
- Earnings per share were SEK 24.50 (16.09).
- Operating cash flow in the Industrial Operations amounted to SEK 45,821 M (35,327).
- Return on capital employed in the Industrial Operations amounted to 36.7% (27.4).
- The Board of Directors proposes an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share.
SOURCE: Volvo Group
