Volvo Cars Q1 adjusted operating earnings rise as costs ease (updated)

Volvo Car AB

24/04/2024 06:12

(Adds details and quote in paragraphs 2-3)
       STOCKHOLM, April 24 (Reuters) - Swedish automaker Volvo
Cars  VOLCARb.ST  reported a rise in first-quarter adjusted
operating earnings on Wednesday, helped by lower material costs
and higher volumes.
    Volvo Cars said its operating income excluding joint
ventures, associates and one-offs rose 8% to 6.8 billion Swedish
crowns ($629.27 million) in the quarter from a year-ago 6.3
billion.
        "We remain firmly focused on achieving profitable growth
and we expect 2024 to be another solid year after the record
year of 2023," CEO Jim Rowan said in a statement.
  
        
  


($1 = 10.8061 Swedish crowns)

 (Reporting by Marie Mannes, editing by Stine Jacobsen)
 ((marie.mannes@thomsonreuters.com; +46 8 502 423 82;))