Volvo AB : 2023 shaping up well, 2024 more vague
>Very robust earnings and outlook for 2023; 2024 more vague - Volvo’s Q2 2023 earnings reported yesterday (first take here) were robust and above expectations for adjusted EBIT, but below for reported EBIT due to provisions for litigation and restructuring. In the short term, the group continues to see favourable momentum driven by ongoing supply chain improvement and still-robust backlogs. Beyond 2023, visibility is weaker in the face of early signs of a slowdown and...Volvo is a manufacturer of trucks, buses, construction equipment and marine and industrial engines. Co.'s activities are organized into six areas: Group Trucks, which sells and markets trucks under Eicher, Mack, Renault Trucks, UD Trucks and Volvo brands; Construction Equipment, which includes equipment for construction and related industries; Buses, which includes buses and bus chassis for city, intercity and coach traffic; Volvo Penta, which manufactures engines and drive systems for boats and commercial craft; Governmental Sales, which manufactures special-purpose vehicles; and Volvo Financial Services, providing customer financing and leasing, dealer financing and fee based products.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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