Refile: BRIEF-Volvo Cars Q3 Revenue At SEK 66.9 Bln
REFILE-BRIEF-Volvo Cars Q3 Revenue At SEK 66.9 Bln Refiles to change source to Volvo Cars
Oct 23 (Reuters) - Volvo Cars VOLCARb.ST:
Q3 ADJUSTED EBIT MARGIN -5.6%
Q3 ADJUSTED EBIT SEK -3,700 MILLION
Q3 BASIC EPS SEK -1.63
Q3 EBIT SEK -5,600 MILLION
Q3 EBIT MARGIN -8.4%
Q3 REVENUE SEK 66,900 MILLION
Q3 OPERATING INCOME WAS SEK -5.6 BN (SEK 6.4 BN IN Q3 2025)
Q3 FREE CASH FLOW OF SEK -8.9 BILLION (SEK -4.3 BILLION IN Q3 2025)
RESULT REFLECTS A FURTHER DETERIORATING EXTERNAL ENVIRONMENT, LED BY MARKET DEVELOPMENTS IN CHINA AND US
REMOVED FORWARD-LOOKING STATEMENTS FOR THE REMAINDER OF THE YEAR
VOLVO CARS' REVENUES IN CHINA FELL BY ALMOST 50 PER CENT YEAR-ON-YEAR
IN US, VOLVO CARS SAW CONTINUED NEGATIVE EFFECTS FROM TARIFFS AND REMOVAL OF CONSUMER INCENTIVES FOR ELECTRIFIED CARS, WHICH PRESSURED MARGINS
VOLVO CARS AIMS TO REDUCE AN ADDITIONAL SEK 5 BILLION IN INDIRECT SPEND AND VARIABLE COSTS
US MARKET IS AFFECTED BY CONTINUED NEGATIVE EFFECTS FROM TARIFFS AS WELL AS THE REMOVAL OF INCENTIVES FOR ELECTRIFIED CARS
ACTIONS WILL LEAD TO A STRUCTURAL REDUCTION OF 2,500 JOBS GLOBALLY, OF WHICH 2,000 ARE BASED IN SWEDEN
WEAK PERFORMANCE IN THE US AND CHINA MEANS THAT HALF OUR BUSINESS WAS NOT CONTRIBUTING TO PROFITABILITY
FULL FINANCIAL EFFECTS OF THESE MEASURES WILL BE REALISED BY END OF 2027
COMPANY'S OVERALL INDIRECT SPEND WILL BE ALMOST 25 PER CENT LOWER VERSUS FY 2024
EUROPE’S CAR MARKET HAS BEEN MORE STABLE AND WAS THEREFORE THE SOLE POSITIVE CONTRIBUTOR TO OUR OPERATIONAL PERFORMANCE
IN 2027, VOLVO CARS WILL REVEAL THREE OF THESE NEW CARS
DUE TO NEW INDUSTRIAL TECHNOLOGY SUCH AS CELL-TO-BODY IT IS TAKING LONGER THAN PLANNED TO RAMP UP PRODUCTION, BUT VOLVO CARS IS STEADILY IMPROVING BUILT VOLUMES
Source text: ID:nWkr79nBLt
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