(Stockholm) The Swedish truck manufacturer Volvo Group published results for 2021 on Friday, up sharply compared to 2020, despite a fourth quarter affected by the shortage of semiconductors which continues to weigh on its activity and rising costs. .
Posted yesterday at 7:45 a.m.
The annual net profit of the world number 2 in the sector amounted to some 32.8 billion crowns (3.1 billion euros), up 70% compared to 2020, and the turnover, at 372 billion, increased by 10%.
Performance above the consensus of sector analysts polled by Bloomberg.
“As economic activity rebounded from the challenges of 2020, growing transportation volumes and improving construction activity increased our customers’ fleet utilization, which returned to before COVID-19,” CEO Martin Lundstedt said in the group’s annual report.
The last quarter also exceeded expectations, with a net profit of 8 billion crowns (-13% over one year), where analysts had expected 7.4 billion. Over the period, the turnover is on the other hand up by 5.6%, to 102 billion.
“We have had additional costs to manage production due to supply chain disruptions as well as higher costs for materials and freight,” said the group, which expects “pressures inflationary continues.
At 10 a.m., Volvo shares fell 3.6% to 206.7 crowns in a market down 0.61%.
For 2022, Volvo has maintained its sales forecast in its main markets.