Volvo reports another record-breaking quarter as profits rise by 77.5%

Oct 27, 2017   OEM

Volvo Cars, the premium car maker, reported its financial result for the third quarter and first nine months of 2017, on October 27.

Highlights from the financial report include the following:

Third quarter:

Operating profit of SEK 3.7 billion ($442 million), an increase of 77.5% compared with Q3 2016
Net revenue up to SEK 48.9 billion, up 18.4% versus Q3 2016
Net income of SEK 2.5 billion, an increase of 89.4% compared with Q3 2016
EBIT margin of 7.5%, versus 5.0% in the third quarter of 2016
Global third-quarter retail sales up 10.6% to 135,831 cars.

First nine months:

First nine months operating profit of SEK 10.445 billion, an increase of 36.4% compared with the same period in 2016
Net revenue for first nine months of SEK 149.250 billion, up 18.9% versus first nine months of 2016
First nine months net income of SEK 7.262 billion, an increase of 42.% year-on-year
EBIT margin of 7.0%, compared with 6.1% in the first nine months of 2016
Global retail sales for first nine months up 9.0% to 413,472 cars.

Outlook:

The company expects to report a fourth consecutive global sales record for the full year.

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