Volvo AB : Strong top line, but margins impacted by inflationary pressures
>Robust revenues - Volvo has just reported its Q3 results with net sales coming in at SEK 114.9bn, +35% y-o-y on the back of easy comps (note that supply shortages peaked in Q3 21), and down “just” -3% q-o-q despite an unfavourable seasonal effect (scheduled summer shutdowns), thereby beating consensus expectations (Visible Alpha consensus SEK 107bn) but in line with our figures (SEK 114bn). Business remained particularly strong in North America (SEK 35bn, +49% y-o-y...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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