Q1 2026 Volvo AB Earnings Call Transcript
Key Points
- Volvo AB (VLVLY) reported a solid adjusted operating income of SEK12.2 billion with a margin of 11%, demonstrating strong earnings resilience.
- The company saw a 14% year-over-year increase in order intake for Group Trucks, indicating strong customer confidence.
- Volvo AB (VLVLY) launched several new business offerings, including the next generation of battery electric trucks with significant range improvements.
- The service business grew by 6% organically, contributing to increased customer loyalty and resilience.
- Volvo AB (VLVLY) is well-positioned for future growth with strategic partnerships, such as Toyota joining the Cellcentric fuel cell joint venture.
- Truck deliveries decreased by 3% due to lower volumes in North America and South America.
- Orders for electric vehicles decreased by 22%, attributed to increased competition and market uncertainties.
- The company faced higher manufacturing costs due to under absorption from planned stop weeks in North America.
- Volvo AB (VLVLY) experienced a negative currency impact of SEK1.1 billion due to the appreciation of the Swedish krona.
- The company had to discontinue the loss-making Rokbak articulated hauler business, incurring one-time costs.
Good morning, and welcome to the Volvo Group first quarter press conference. Today, we'll listen to the presentation from Martin and Mats about the first quarter results, and then we will follow up with a Q&A session later on in this session.
So with that short introduction, I hand over to Martin.
Thank you for that, Johan. And also from my side, good morning to this quarter 1, 2026 press conference. Great to have you here.
First and foremost, the group and all colleagues and business partners delivered a solid result in the quarter with an adjusted operating income of SEK12.2 billion and a margin of 11% and continue to demonstrate strong earnings resilience despite that market volumes moderated compared to last year. And despite many moving parameters, as you're all aware of, such as geopolitical turmoil and tariffs.
Performance was good across all business areas
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