Volvo is a profitable manufacturer
Volvo Car Corporation has recorded in 2011 earnings before interest and taxes (EBIT) of 1,636 million SEK (184 million euros *). Sales, meanwhile, have increased by 20.3% to 449,255 units.
"I am delighted with the performance that we could realize the last year. Our trading position is positive and we started to transform the company into a prosperous premium car brand. At the same time, we remain exposed to external factors and must continue to focus on the implementation of our projects to achieve sustainable profitability for the future, "says Stefan Jacoby, President and CEO of Volvo Car Corporation.
Financials 2011
Volvo Car Corporation intends to practice transparency and openness in matters of operating results. Annual financial reports and intermediate will be published to communicate financial information and business performance of the company. These documents incorporate the comments of the CEO, a summary of business activities and development of steps and interim and annual financial statements.
Results for fiscal 2011
The strong product mix-work has contributed a turnover of 125.5 billion kroner (about € 14.11 billion euros *) and EBIT of SEK 1,636 million (approximately € 184 million * ) for 2011.'s profitability was impacted primarily by increased costs of research & development and industrial capacity to support development projects and new product strategy, especially in the second half. In addition, results were negatively affected by unfavorable exchange rates and the increase in the cost of raw materials.
Sales network have increased in 2011 by 20.3% to 449,255 units. All business areas have recorded significant growth with, in China, an increase of 54.4% over 2010. Always compared to 2010, rising 24.7% in the United States, 10.5% in Sweden and 10% in Europe. Penetration increases from one year to another in all major markets.
*: Rounded exchange rate 1 = 0.1125 euros Swedish crown
