• In Q4 2023, net sales increased by 10% to SEK 148.1 billion (134.3). Adjusted for currency movements, the increase was 8%.

• Adjusted operating income amounted to SEK 18,384 M (12,171), corresponding to an adjusted operating margin of 12.4% (9.1). Adjusted operating income excludes negative effects of SEK 1,490 M.

• Reported operating income amounted to SEK 16,894 M (11,541).

• Currency movements had a positive impact on operating income of SEK 1,106 M.

• Earnings per share amounted to SEK 5.93 (3.26).

• Operating cash flow in the Industrial Operations amounted to SEK 22,655 M (18,918).

• Full year net sales were SEK 552.8 billion (473.5).

• Adjusted operating income amounted to SEK 77,638 M (50,467) with an adjusted operating margin of 14.0% (10.7).

• Reported operating income amounted to SEK 66,784 M (45,712).

• Earnings per share were SEK 24.50 (16.09).

• Operating cash flow in the Industrial Operations amounted to SEK 45,821 M (35,327).

• Return on capital employed in the Industrial Operations amounted to 36.7% (27.4).

• The Board of Directors proposes an ordinary dividend of SEK 7.50 per share and an extra dividend of SEK 10.50 per share.

Press and Analyst Conference Call
An on-line presentation of the report, followed by a question and answer session will be webcasted starting at 09.00 CET. Link to webcast: https://qreport.volvogroup.com.

More information, including an interview with CEO Martin Lundstedt, is available on https://www.volvogroup.com/en/investors.html

January 26, 2024

Aktiebolaget Volvo (publ) 556012-5790  

Investor Relations  
SE-405 08 Göteborg, Sweden  
Tel +46 31 66 00 00  
www.volvogroup.com  

Contact Media Relations:  
Claes Eliasson            +46 765 53 72 29
function.press@volvo.com  

Contacts Investor Relations:  
Johan Bartler              +46 739 02 21 93  
Anders Christensson   +46 765 53 59 66  

This information is information that AB Volvo (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07.20 CET on January 26, 2024.

For more information, please visit volvogroup.com 
For frequent updates, follow us on X: @volvogroup (https://twitter.com/volvogroup)

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2022, net sales amounted to SEK 473 billion (EUR 45 billion). Volvo shares are listed on Nasdaq Stockholm.