AB Volvo Income Statement

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

Millions SEK. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	479,183	526,816	552,252	473,479	372,216
Revenue Growth (YoY)	-9.04%	-4.61%	16.64%	27.21%	9.98%
Cost of Revenue	362,314	382,767	402,414	361,741	282,463
Gross Profit	116,869	144,049	149,838	111,737	89,753
Selling, General & Admin	40,049	42,489	41,031	34,924	28,829
Research & Development	26,242	30,957	26,645	22,526	18,027
Other Operating Expenses	2,072	3,992	14,862	8,575	-177
Total Operating Expenses	68,363	77,438	82,538	66,025	46,679
Operating Income	48,506	66,611	67,301	45,712	43,074
Interest Income	1,909	2,688	2,690	1,008	358
Interest Expense	-1,819	-1,592	-1,684	-1,205	-1,167
Other Non-Operating Income (Expense)	-1,204	-497	-1,581	-437	926
Total Non-Operating Income (Expense)	-1,114	599	-575	-634	117
Pretax Income	47,391	67,210	66,726	45,077	43,190
Provision for Income Taxes	12,685	16,634	16,794	12,108	9,947
Net Income	34,456	50,389	49,825	32,722	32,787
Minority Interest in Earnings	251	186	107	247	456
Net Income to Common	34,456	50,389	49,825	32,722	32,787
Net Income Growth	-31.62%	1.13%	52.27%	-0.20%	69.72%
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)	16.94	24.78	24.50	16.09	16.12
EPS (Diluted)	16.94	24.78	24.50	16.09	16.12
EPS Growth	-31.64%	1.14%	52.27%	-0.19%	69.68%
Shares Outstanding	2,033	2,033	2,033	2,033	2,033
Free Cash Flow	27,251	32,552	8,276	12,788	15,530
Free Cash Flow Growth	-16.29%	293.33%	-35.28%	-17.66%	-4.80%
Free Cash Flow Per Share	13.40	16.01	4.07	6.29	7.64
Dividends Per Share	8.500	8.000	7.500	7.000	6.500
Dividend Growth	6.25%	6.67%	7.14%	7.69%	8.33%
Gross Margin	24.39%	27.34%	27.13%	23.60%	24.11%
Operating Margin	10.12%	12.64%	12.19%	9.65%	11.57%
Profit Margin	7.24%	9.60%	9.04%	6.96%	8.93%
FCF Margin	5.69%	6.18%	1.50%	2.70%	4.17%
EBITDA	71,992	89,159	88,528	66,441	61,794
EBITDA Margin	15.02%	16.92%	16.03%	14.03%	16.60%
EBIT	48,506	66,611	67,301	45,712	43,074
EBIT Margin	10.12%	12.64%	12.19%	9.65%	11.57%
Effective Tax Rate	26.77%	24.75%	25.17%	26.86%	23.03%

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.