Volvo Cars, the premium car maker, today reports its financial result for the third quarter and first nine months of 2017.
Highlights from the financial report include the following:
Third quarter:
Operating profit of MSEK 3,669, an increase of 77.5 per cent compared with Q3 2016
Net revenue up to MSEK 48,880, up 18.4 per cent versus Q3 2016
Net income of MSEK 2,513, an increase of 89.4 per cent compared with Q3 2016
EBIT margin of 7.5 per cent, versus 5.0 per cent in the third quarter of 2016
Global third-quarter retail sales up 10.6 per cent to 135,831 cars
First nine months:
First nine months operating profit of MSEK 10,445, an increase of 36.4 per cent compared with the same period in 2016
Net revenue for first nine months of MSEK 149,250, up 18.9 per cent versus first nine months of 2016
First nine months net income of MSEK 7,262, an increase of 42.1 per cent year-on-year
EBIT margin of 7.0 per cent, compared with 6.1 per cent in the first nine months of 2016
Global retail sales for first nine months up 9.0 per cent to 413,472 cars
Outlook:
The company expects to report a fourth consecutive global sales record for the full year