Volvo released dismal Q1 16 numbers. The group’s revenue fell by 4% to SEK71.7bn, EBIT was down by 22% to SEK5.3bn and cash from operations (based on the management’s definition) moved from +SEK1.9bn to -SEK6bn. Net profit was down by 11% to SEK3.8bn, but this moderate fall is the result of a SEK885m disposal gain stemming from the sale of the group’s IT operation. We found no full-year 2016 guidance in Volvo’s quarterly report.
22 Apr 2016
US truck market continues to collapse
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US truck market continues to collapse
Volvo AB Class B (VOLVB:PRA) | 0 0 1.2% | Mkt Cap: 328,497m
- Published:
22 Apr 2016 -
Author:
Hans-Peter Wodniok -
Pages:
2
Volvo released dismal Q1 16 numbers. The group’s revenue fell by 4% to SEK71.7bn, EBIT was down by 22% to SEK5.3bn and cash from operations (based on the management’s definition) moved from +SEK1.9bn to -SEK6bn. Net profit was down by 11% to SEK3.8bn, but this moderate fall is the result of a SEK885m disposal gain stemming from the sale of the group’s IT operation. We found no full-year 2016 guidance in Volvo’s quarterly report.