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VOLVO CAR GROUP – FINANCIAL REPORT jan-dec 2013
HÅKAN SAMUELSSON, PRESIDENT & CEO HANS OSCARSSON, CFO
Volvo Car Group – highlights 2013
• Full-year operating income of 1,919 MSEK
• Strong performance in the Chinese market
• Launch of six renewed models and Drive-E
• Cost control
• Retail sales flat
• Industrial footprint established in China
2
Industry trends 2013
3
3
Industry development* (total passenger cars 000’s)
2013 2012 Change,%
China 17,145 14,972 14.5%
USA 15,520 14,313 8.4%
EU 20 12,004 12,265 -2.1%
of which Sweden
270 280 -3.7%
• Growth in Chinese and US car market
• Car sales declined in Europe
• Swedish car market declined
*Preliminary figures
Volvo car Group – sales performance 2013
• China: Significant growth and increased market share
• USA: Sales decline also due to limited product portfolio
• Europe: Market share flat in a slightly decreasing market
• Sweden: Increased market share and thereby securing position as market leader
Retail sales (number of cars sold)
2013 2012 Change,%
China 61,146 41,989 45.6%
USA 61,233 68,079 -10.1%
Europe (EU20) 226,095 227,027 -0.4%
Of which Sweden 52,260 51,832 0.8%
Rest of World 79,366 84,856 -6.5%
Total 427,840 421,951 1.4%
4
Volvo Car Group – Financial highlights 2013
SEK millions
(unless otherwise stated) 2013 2012
Revenue 122,245 124,547
Gross Income 20,311 19,947
Operating Income (EBIT) 1,919 66
Operating Margin (%) 1.6% 0.1%
Net Income 960 -542
Operating & Investing Cash Flow 21 -4,929
5
Volvo Car Group – Net Revenue 2013 vs. 2012
0
20 000
40 000
60 000
80 000
100 000
120 000
140 000
2013 2012
Revenue (msek)
122,245 124,547PositiveSales mix
NegativeVolume
Exchange rates
6
Volvo Car Group – Operating income 2013 vs. 2012
7
PositiveSales mixLower cost
levels
NegativeVolume
Exchange rates
0
500
1 000
1 500
2 000
2 500
Operating income (EBIT) (msek)
1,919
66
2013 2012
Volvo Car Group – Cash flow 2013 vs. 2012
-6 000
-5 000
-4 000
-3 000
-2 000
-1 000
0
1 000
Cash Flow - operating & investing (msek)
21
-4,929
2013
2012
8
• Increased operating income
• Continued investments in
transformation programme
Volvo Car Group – Financial summary 2013
• Result – a turnaround from the half year loss
• Operating income (EBIT) of SEK 1,919 million
• Positive sales mix as well as cost focus
• Continued investments to safeguard
transformation journey
• Financing in place
9
Volvo Car Group – Outlook 2014
• Stay in black and sales growth
• Turnaround in US
• Launch of the all new XC90 on SPA
• Our transformation plan is working
10