THE FOURTH QUARTER 2024

• In Q4 2024, net sales decreased by 6% and amounted to SEK 138.4 billion (148.0). Adjusted for currency movements, net sales decreased by 6%.
• Adjusted operating income amounted to SEK 14,039 M (18,472), corresponding to an adjusted operating margin of 10.1% (12.4). There were no adjustments in Q4 2024. In Q4 2023, negative effects of SEK 1,490 M were excluded from adjusted operating income.
• Reported operating income amounted to SEK 14,039 M (16,982), corresponding to an operating margin of 10.1% (11.4).
• Currency movements had a negative impact on operating income amounting to SEK 44 M.
• Earnings per share amounted to SEK 5.28 (5.93).
• Operating cash flow in the Industrial Operations amounted to SEK 24,270 M (22,655).

THE FULL YEAR 2024

• Full year 2024 net sales amounted to SEK 526.8 billion (552.3).
• Adjusted operating income amounted to SEK 65,718 M (78,155), corresponding to an adjusted operating margin of 12.5% (14.0).
• Reported operating income amounted to SEK 66,611 M (67,301), corresponding to an operating margin of 12.6% (12.1).
• Earnings per share amounted to SEK 24.78 (24.50).
• Operating cash flow in the Industrial Operations amounted to SEK 45,295 M (45,821).
• Return on capital employed in the Industrial Operations amounted to 35.8% (36.7).
• The Board of Directors proposes an ordinary dividend of SEK 8.00 per share and an extra dividend of SEK 10.50 per share.

Press and Analyst Conference Call. An online presentation of the report, followed by a question and answer session will start at 09.00 CET. Link to webcast: https://qreport.volvogroup.com.

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

January 29, 2025

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 below, at 07.20 CET on January 29, 2025.

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
press@volvo.com

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

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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 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm.