Volvo showed accelerating rates of decline for Q2 compared to Q1 16 while we had expected a moderation. Consolidated revenue fell by 5.6% to SEK151bn in H1 which is marginally below our projected SEK155bn. However, EBIT of SEK9.1bn (-35%) is clearly lower than our anticipated SEK10.7bn. The truck division showed a 5.0% delivery fall to 98,780 vehicles while divisional revenue fell by 7.7% to just above SEK100bn. Consequently, the ASP fell by 2.9% to SEK1,016k. Finally, cash from operations (b
19 Jul 2016
Rather poor H1 16 numbers might require further restructurings
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Rather poor H1 16 numbers might require further restructurings
Volvo AB Class B (VOLVB:PRA) | 0 0 1.2% | Mkt Cap: 328,497m
- Published:
19 Jul 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Volvo showed accelerating rates of decline for Q2 compared to Q1 16 while we had expected a moderation. Consolidated revenue fell by 5.6% to SEK151bn in H1 which is marginally below our projected SEK155bn. However, EBIT of SEK9.1bn (-35%) is clearly lower than our anticipated SEK10.7bn. The truck division showed a 5.0% delivery fall to 98,780 vehicles while divisional revenue fell by 7.7% to just above SEK100bn. Consequently, the ASP fell by 2.9% to SEK1,016k. Finally, cash from operations (b