Llistosella, who assumed the CEO role in January 2023, has been instrumental in driving the company's BOOST 2026 strategy, focusing on profitability, sustainable growth, and long-term value creation.

Decreased sales in 2024, with 460,409 trucks and buses sold compared to a record 526,053 in 2023, a 12% decrease. Revenues were down EUR 1.2 billion in 2024 posting EUR 54.1 billion (2023: EUR 55.9 billion). Adjusted Group EBIT in 2024 declined by 14.97% to EUR 4,667 million compared with EUR 5,489 million in the previous year.

With their 2024 financial results freshly published and a pivotal year behind them, we interviewed Patrick Yau, Director of Investor Relations at Ceres, to explore the company’s evolving strategy, commercial vehicle ambitions, and whether their “asset-light, IP-heavy” approach will carry the day in a volatile green energy market.

Marcopolo launched several new models in 2024 including Volare Fly 12 work commuter bus, Volare Attack Hybrid on an Agrale chassis, and started delivery of the Attivi e-bus built on its own e-chassis.

In total Volvo delivered 1,429 vehicles in Latin America during 2024 with Chile (238 and Peru (162) being the main continental export markets.

A key driver behind this performance was a record order intake of GBP 112.8 million, fuelled by agreements with two new manufacturing licensee partners, Delta Electronics and Denso, and an electrolyser system partner, Thermax Ltd. These strategic partnerships signal strong future revenue streams for Ceres.

The Volvo Group - which includes Renault Trucks, Mack Trucks, Prevost, and Nova Bus - saw a slight decline in its financial results across the board, with its net sales falling by 3% to SEK527bn (approximately EUR46bn) in 2024.

The financial results of Traton - which includes the MAN, Scania, International, and Volkswagen Truck & Bus brands - remained steady compared to the year before, with sales revenues improving by just 1% from EUR46,872m in 2023 to EUR47,473m in 2024.

The company recorded a 28% rise in profitability from 2023, and turnover rose from EUR 106 million in 2023 to EUR 161 million in 2024, an increase of 52 percent!

The group - including the DAF, Kenworth, and Peterbilt truck brands - achieved total revenues of USD33,663.8m in 2024.

Annual revenue declined by 32% from 2023 figures (USD 102.368 million) to USD 69.731 million. The net loss in 2024 (USD 324.245 million) almost doubled from 2023 (USD 177.716 million).

The company announced its 2024 financial report, with record full-year sales of USD 3.2 billion (2023: USD 3 billion), which increased the Earnings Per Share (EPS) to a record USD 8.31, up 12 percent from 2023. 2024 net income was USD 731 million, compared with 2023 figures of USD 673 million.