Volvo Car AB (publ.) (STO: VOLCAR.B)

Volvo Car AB (publ.) Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	397,556	399,343	330,145	282,045	262,833	274,117
Revenue Growth (YoY)	0.61%	20.96%	17.05%	7.31%	-4.12%	8.50%
Cost of Revenue	314,240	321,722	269,784	221,254	216,813	222,047
Gross Profit	83,316	77,621	60,361	60,791	46,020	52,070
Selling, General & Admin	38,350	38,595	32,485	28,698	24,457	26,992
Research & Development	15,669	12,884	11,514	12,714	11,362	11,446
Other Operating Expenses	333	-991	-756	-46	531	-86
Operating Expenses	54,352	50,488	43,243	41,366	36,350	38,352
Operating Income	28,964	27,133	17,118	19,425	9,670	13,718
Interest Expense	-2,586	-1,997	-1,045	-794	-1,167	-1,227
Interest & Investment Income	2,786	2,791	852	600	550	572
Earnings From Equity Investments	-3,545	-5,628	4,443	-951	-352	-168
Currency Exchange Gain (Loss)	-1,594	-1,594	888	1,821	-1,065	460
Other Non Operating Income (Expenses)	676	501	-590	-440	-33	-187
EBT Excluding Unusual Items	24,701	21,206	21,666	19,661	7,603	13,168
Gain (Loss) on Sale of Investments	-152	-152	-822	-901	1,943	-
Asset Writedown	-194	-194	-29	-	-	-
Pretax Income	24,355	20,860	20,815	18,760	9,546	13,168
Income Tax Expense	7,426	6,794	3,812	4,583	1,758	3,565
Earnings From Continuing Operations	16,929	14,066	17,003	14,177	7,788	9,603
Minority Interest in Earnings	-922	-1,013	-1,426	-1,631	-1,954	-2,488
Net Income	16,007	13,053	15,577	12,546	5,834	7,115
Preferred Dividends & Other Adjustments	-	-	-	360	126	-
Net Income to Common	16,007	13,053	15,577	12,186	5,708	7,115
Net Income Growth	29.09%	-16.20%	24.16%	115.05%	-18.00%	4.02%
Shares Outstanding (Basic)	2,978	2,980	2,980	2,580	2,500	50
Shares Outstanding (Diluted)	2,980	2,980	2,980	2,580	2,557	50
Shares Change (YoY)	0.01%	0.02%	15.49%	0.90%	5013.88%	-
EPS (Basic)	5.37	4.38	5.23	4.72	2.28	142.30
EPS (Diluted)	5.37	4.38	5.23	4.72	2.28	142.30
EPS Growth	29.03%	-16.22%	10.76%	106.87%	-98.40%	4.02%
Free Cash Flow	17,721	24,382	19,815	18,500	24,299	20,567
Free Cash Flow Per Share	5.95	8.18	6.65	7.17	9.50	411.34
Dividend Per Share	-	-	-	-	-	2.900
Dividend Growth	-	-	-	-	-	-89.55%
Gross Margin	20.96%	19.44%	18.28%	21.55%	17.51%	19.00%
Operating Margin	7.29%	6.79%	5.18%	6.89%	3.68%	5.00%
Profit Margin	4.03%	3.27%	4.72%	4.32%	2.17%	2.60%
Free Cash Flow Margin	4.46%	6.11%	6.00%	6.56%	9.25%	7.50%
EBITDA	39,518	35,989	25,819	27,418	18,144	22,895
EBITDA Margin	9.94%	9.01%	7.82%	9.72%	6.90%	8.35%
D&A For EBITDA	10,554	8,856	8,701	7,993	8,474	9,177
EBIT	28,964	27,133	17,118	19,425	9,670	13,718
EBIT Margin	7.29%	6.79%	5.18%	6.89%	3.68%	5.00%
Effective Tax Rate	30.49%	32.57%	18.31%	24.43%	18.42%	27.07%

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