AB Volvo (publ) (PRA: VOLVB)

AB Volvo Income Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Operating Revenue	499,834	528,752	456,124	358,779	324,486
Other Revenue	26,982	24,012	17,355	13,437	13,960
Revenue	526,816	552,764	473,479	372,216	338,446
Revenue Growth (YoY)	-4.69%	16.75%	27.21%	9.98%	-21.65%
Cost of Revenue	364,161	387,058	351,100	274,763	250,944
Gross Profit	139,716	145,418	105,871	87,304	75,106
Selling, General & Admin	39,029	37,722	31,933	26,434	28,896
Research & Development	30,957	26,645	22,526	18,027	16,798
Other Operating Expenses	971	917	4,498	1,500	995
Operating Expenses	70,957	65,284	58,957	45,961	46,689
Operating Income	68,759	80,134	46,914	41,343	28,417
Interest Expense	-1,592	-1,167	-1,205	-1,167	-1,349
Interest & Investment Income	2,706	2,690	1,140	358	299
Earnings From Equity Investments	-2,166	-2,568	-1,333	-54	1,749
Currency Exchange Gain (Loss)	-	-851	-331	-24	-227
Other Non Operating Income (Expenses)	-498	-729	-108	949	-292
EBT Excluding Unusual Items	67,209	77,509	45,077	41,405	28,597
Merger & Restructuring Charges	-	-2,570	-	157	-2,703
Gain (Loss) on Sale of Investments	-	-14	-	-15	-3
Gain (Loss) on Sale of Assets	-	-2,199	-	1,643	25
Legal Settlements	-	-6,000	-	-	-
Pretax Income	67,209	66,726	45,077	43,190	25,916
Income Tax Expense	16,634	16,794	12,108	9,947	5,843
Earnings From Continuing Operations	50,575	49,932	32,969	33,243	20,073
Minority Interest in Earnings	-186	-107	-247	-456	-755
Net Income	50,389	49,825	32,722	32,787	19,318
Net Income to Common	50,389	49,825	32,722	32,787	19,318
Net Income Growth	1.13%	52.27%	-0.20%	69.72%	-46.13%
Shares Outstanding (Basic)	2,033	2,033	2,033	2,033	2,033
Shares Outstanding (Diluted)	2,033	2,033	2,033	2,033	2,033
EPS (Basic)	24.79	24.51	16.10	16.13	9.50
EPS (Diluted)	24.78	24.50	16.09	16.12	9.50
EPS Growth	1.14%	52.27%	-0.19%	69.68%	-46.14%
Free Cash Flow	32,552	3,288	12,788	15,530	16,313
Free Cash Flow Per Share	16.01	1.62	6.29	7.64	8.02
Dividend Per Share	8.000	7.500	7.000	6.500	6.000
Dividend Growth	6.67%	7.14%	7.69%	8.33%	-
Gross Margin	26.52%	26.31%	22.36%	23.46%	22.19%
Operating Margin	13.05%	14.50%	9.91%	11.11%	8.40%
Profit Margin	9.56%	9.01%	6.91%	8.81%	5.71%
Free Cash Flow Margin	6.18%	0.59%	2.70%	4.17%	4.82%
EBITDA	78,683	86,461	52,854	46,811	32,665
EBITDA Margin	14.94%	15.64%	11.16%	12.58%	9.65%
D&A For EBITDA	9,924	6,327	5,940	5,468	4,248
EBIT	68,759	80,134	46,914	41,343	28,417
EBIT Margin	13.05%	14.50%	9.91%	11.11%	8.40%
Effective Tax Rate	24.75%	25.17%	26.86%	23.03%	22.55%

Source: S&P Capital IQ. Standard template. Financial Sources.