Volvo Car AB (publ.) (VLVOF)

Volvo Car AB (publ.) Income Statement

Financials in millions SEK. Fiscal year is January - December.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	357,263	400,234	399,343	330,145	282,045
Revenue Growth (YoY)	-10.74%	0.22%	20.96%	17.05%	7.31%
Cost of Revenue	293,042	320,807	321,722	269,784	221,254
Gross Profit	64,221	79,427	77,621	60,361	60,791
Selling, General & Admin	33,689	37,447	38,595	32,485	28,698
Research & Development	26,067	16,983	12,884	11,514	12,714
Other Operating Expenses	816	-1,654	-967	-756	-46
Operating Expenses	60,572	52,776	50,512	43,243	41,366
Operating Income	3,649	26,651	27,109	17,118	19,425
Interest Expense	-1,251	-2,935	-1,997	-1,045	-794
Interest & Investment Income	1,929	2,718	2,791	852	600
Earnings From Equity Investments	654	-4,722	-5,628	4,443	-951
Currency Exchange Gain (Loss)	-	487	-1,570	888	1,821
Other Non Operating Income (Expenses)	-1,647	534	349	-590	-440
EBT Excluding Unusual Items	3,334	22,733	21,054	21,666	19,661
Gain (Loss) on Sale of Investments	-	-	-	-822	-901
Asset Writedown	-4,000	-14	-194	-29	-
Pretax Income	-666	22,719	20,860	20,815	18,760
Income Tax Expense	2,302	6,785	6,794	3,812	4,583
Earnings From Continuing Operations	-2,968	15,934	14,066	17,003	14,177
Minority Interest in Earnings	3,142	-533	-1,013	-1,426	-1,631
Net Income	174	15,401	13,053	15,577	12,546
Preferred Dividends & Other Adjustments	-	-	-	-	360
Net Income to Common	174	15,401	13,053	15,577	12,186
Net Income Growth	-98.87%	17.99%	-16.20%	24.16%	115.05%
Shares Outstanding (Basic)	2,969	2,977	2,980	2,980	2,580
Shares Outstanding (Diluted)	2,971	2,978	2,980	2,980	2,580
Shares Change (YoY)	-0.24%	-0.07%	0.03%	15.49%	0.90%
EPS (Basic)	0.06	5.17	4.38	5.23	4.72
EPS (Diluted)	0.06	5.17	4.38	5.23	4.72
EPS Growth	-98.87%	18.04%	-16.22%	10.76%	106.87%
Free Cash Flow	11,800	22,113	24,382	19,815	18,500
Free Cash Flow Per Share	3.97	7.42	8.18	6.65	7.17
Gross Margin	17.98%	19.84%	19.44%	18.28%	21.55%
Operating Margin	1.02%	6.66%	6.79%	5.18%	6.89%
Profit Margin	0.05%	3.85%	3.27%	4.72%	4.32%
Free Cash Flow Margin	3.30%	5.53%	6.11%	6.00%	6.56%
EBITDA	19,423	38,939	37,197	25,819	27,418
EBITDA Margin	5.44%	9.73%	9.31%	7.82%	9.72%
D&A For EBITDA	15,774	12,288	10,088	8,701	7,993
EBIT	3,649	26,651	27,109	17,118	19,425
EBIT Margin	1.02%	6.66%	6.79%	5.18%	6.89%
Effective Tax Rate	-	29.87%	32.57%	18.31%	24.43%

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.