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 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue	346,931	357,263	400,234	399,343	330,145	282,045
Revenue Growth (YoY)	-10.88%	-10.74%	0.22%	20.96%	17.05%	7.31%
Cost of Revenue	284,293	292,978	320,821	321,722	269,784	221,254
Gross Profit	62,638	64,285	79,413	77,621	60,361	60,791
Selling, General & Admin	32,752	33,689	37,447	38,595	32,485	28,698
Research & Development	19,396	18,694	16,983	12,884	11,514	12,714
Other Operating Expenses	-1,815	-831	-1,654	-967	-756	-46
Operating Expenses	50,333	51,552	52,776	50,512	43,243	41,366
Operating Income	12,305	12,733	26,637	27,109	17,118	19,425
Interest Expense	-3,118	-3,019	-2,935	-1,997	-1,045	-794
Interest & Investment Income	2,280	2,309	2,718	2,791	852	600
Earnings From Equity Investments	759	654	-4,722	-5,628	4,443	-951
Currency Exchange Gain (Loss)	-1,571	-1,571	487	-1,570	888	1,821
Other Non Operating Income (Expenses)	602	-259	534	349	-590	-440
EBT Excluding Unusual Items	11,257	10,847	22,719	21,054	21,666	19,661
Merger & Restructuring Charges	-82	-82	-	-	-	-
Impairment of Goodwill	-76	-76	-	-	-	-
Gain (Loss) on Sale of Investments	-	-	-	-	-822	-901
Asset Writedown	-11,355	-11,355	-	-194	-29	-
Pretax Income	-256	-666	22,719	20,860	20,815	18,760
Income Tax Expense	2,964	2,302	6,785	6,794	3,812	4,583
Earnings From Continuing Operations	-3,220	-2,968	15,934	14,066	17,003	14,177
Minority Interest in Earnings	3,800	3,142	-533	-1,013	-1,426	-1,631
Net Income	580	174	15,401	13,053	15,577	12,546
Preferred Dividends & Other Adjustments	-	-	-	-	-	360
Net Income to Common	580	174	15,401	13,053	15,577	12,186
Net Income Growth	-95.63%	-98.87%	17.99%	-16.20%	24.16%	115.05%
Shares Outstanding (Basic)	2,966	2,969	2,977	2,980	2,980	2,580
Shares Outstanding (Diluted)	2,969	2,971	2,978	2,980	2,980	2,580
Shares Change (YoY)	-0.28%	-0.24%	-0.07%	0.03%	15.49%	0.90%
EPS (Basic)	0.20	0.06	5.17	4.38	5.23	4.72
EPS (Diluted)	0.20	0.06	5.17	4.38	5.23	4.72
EPS Growth	-95.61%	-98.87%	18.04%	-16.22%	10.76%	106.87%
Free Cash Flow	12,348	11,800	22,113	24,382	19,815	18,500
Free Cash Flow Per Share	4.16	3.97	7.42	8.18	6.65	7.17
Gross Margin	18.05%	17.99%	19.84%	19.44%	18.28%	21.55%
Operating Margin	3.55%	3.56%	6.65%	6.79%	5.18%	6.89%
Profit Margin	0.17%	0.05%	3.85%	3.27%	4.72%	4.32%
Free Cash Flow Margin	3.56%	3.30%	5.53%	6.11%	6.00%	6.56%
EBITDA	22,914	23,298	36,367	37,197	25,819	27,418
EBITDA Margin	6.60%	6.52%	9.09%	9.31%	7.82%	9.72%
D&A For EBITDA	10,609	10,565	9,730	10,088	8,701	7,993
EBIT	12,305	12,733	26,637	27,109	17,118	19,425
EBIT Margin	3.55%	3.56%	6.65%	6.79%	5.18%	6.89%
Effective Tax Rate	-	-	29.87%	32.57%	18.31%	24.43%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.