Q1 2025 Volvo AB Earnings Call Transcript
Key Points
- Volvo AB (VLVLY) maintained market leadership in Europe with a truck market share exceeding 20%, reaching 20.1%.
- Order intake for full electric vehicles increased by 138%, driven by Renault Trucks and SDLG machines in China.
- Volvo AB (VLVLY) reported a strong financial position with a net cash position of SEK77.9 billion.
- Volvo Buses launched the new Volvo 7800 Electric in Mexico, marking the first electric bus model manufactured in the country.
- Volvo Financial Services reported stable earnings with new business volumes reaching SEK24.9 billion.
- Net sales declined by 7% year-over-year, with vehicle sales dropping by 8% due to lower volumes.
- The North American market faced increased uncertainty, leading to a reduction in the forecast from 300,000 to 275,000 units.
- Volvo Trucks in North America experienced under-absorption in production due to the changeover to a new truck platform.
- Construction Equipment sales were down 10% due to lower volumes in Europe and North America.
- The adjusted operating income was negatively impacted by reduced volumes and negative product and brand mix within Construction Equipment.
Good morning, and welcome to the Volvo Group first-quarter press conference. Today, we'll do as always; we'll listen to the presentations by Martin and Mats, and then we'll follow up with a Q&A session.
So with that, I hand over to Martin.
Thank you, Johan. Thank you for that. And also from my side, welcome, everyone, to this quarter one 2025 presentation.
And I would like to start with saying that it has been a rather eventful time here. That is not a, so to speak, exaggeration. But as we conclude the first quarter also, I would like to take the opportunity to thank everyone that has been involved: customers, business partners, and colleagues. It's more important than ever to work closely together. And that is a strong asset that we have, that we have very close relations.
And overall, the underlying activities in many markets during the quarter have been, as a
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