Volvo AB : Q4 broadly in line, sharp margin normalisation in Construction Equipment
>Q4 broadly in line, trucks solid, sharp erosion in CE and Penta - Volvo just reported Q4 results which came in broadly in line with expectations. In detail, Q4 revenues came in at SEK 148bn, +10% y-o-y (+8% lfl), ahead of expectations (css SEK 138bn, ODDO BHF SEK 139bn). Adj. EBIT came in at SEK 18.4bn, +51% y-o-y, -4% q-o-q, slightly ahead of consensus (SEK 17.7bn) but slightly below our own figures (SEK 19.2bn), with a margin of 12.4% down from 14.6% over 9M and be...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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