Volvo Group shows strong performance in Q4 and FY 2021
By Bradley Osborne - 4th March 2022
Sweden – AB Volvo of Gothenburg, Sweden, a group of commercial vehicle manufacturing brands including Volvo Trucks, Volvo Buses, Mack Trucks, and Renault Trucks, announced a near 10% increase in its net sales for the year 2021, from SEK338.4bn in the year prior to SEK372.2bn.1 The group’s adjusted operating income for the year was SEK41bn (2020: SEK28.6bn), providing a margin of 11% (2020: 8.4%).
In the fourth quarter of 2021, Volvo achieved net sales of SEK102.4bn, a 13.3% increase on SEK90.4bn recorded in the same period of 2020 (if UD Trucks’ contribution is not counted). Volvo’s adjusted operating income for the quarter was SEK10.1bn, a 9.8% margin.
