Volvo Cars reports operating profit of SEK11bn in 2016
Net revenue for the period increased 10 per cent to SEK180.7bn compared to SEK164.0bn in 2015 while the operating profit margin improved significantly from 4 per cent in 2015 to 6.1 per cent in 2016.
The results provide the latest proof that Volvo’s ongoing financial and operational transformation is gathering pace. Global sales rose 6.2 per cent, underpinned by an 11.5 increase in China and an 18.1 rise in the US, Volvo’s two largest individual sales markets.
“Volvo is going from strength to strength,” said Håkan Samuelsson, president and chief executive. “The new models are successful, sales are at record levels and profits are up substantially reflecting the contribution of all our employees. On the back of these achievements, I foresee that 2017 will also be a record year in terms of sales.”
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