US - Volvo Cars/media/Files/V/Volvo-Cars-IR/result… · Cash Balance & Marketable Securities H1...
Transcript of US - Volvo Cars/media/Files/V/Volvo-Cars-IR/result… · Cash Balance & Marketable Securities H1...
• US – New plant in South Carolina announced
• Sweden – Three shifts in Torslanda, 1,500 new jobs
added
• New regional structure
• Consolidation of the Chinese industrial entities
• All-new XC90
• All-new XC90 excellent start
• Positive impact on profitability
• Delivery to customers
key events H1 2015
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• Sales slightly up
• Strong performance in Sweden and Western Europe
• US stabilizes
• China slowing down
• Improved Operating Income (EBIT) up to MSEK
1,660 (968)
• Good Cash Flow management
performance H1 2015 – strong Ebit
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• The Chinese industrial entities have been
incorporated into Volvo Car Group and are
fully consolidated from January 1, 2015
• Reflects Volvo Cars’ global operations
• Only OEM to consolidate
• Volvo Cars increased its ownership up to 50%
• Purchase price of BSEK 2.2
Chinese entities consolidated
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Financials h1 2015
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sales – slight improvement
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Retail sales
(number of cars sold) H1 2015 H1 2014 Change,%
Western Europe (excl. Sweden) 93,398 87,630 6.6
China 38,292 38,751 -1.2
Sweden 32,460 30,511 6.4
U.S. 29,367 29,331 0.1
Other markets 38,767 42,790 -9.4
Total 232,284 229,013 1.4
SEK millions H1 2015 H1 2014
Revenue 75,215 66,985
Gross Income 16,096 11,247
Operating Income (EBIT) 1,660 968
Operating Margin (%) 2.2 1.4
Net Income 877 265
Operating & Investing Cash Flow* -1,044 -5,504
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Financial highlights H1 2015
*Adjusted for investments in marketable securities
EBIT – Improvement driven by sales mix
290968
2,000
2,500
500
1,000
1,500
0
H1 2015 EBITMargin,
Exchange, Fixed
Cost and Other
Sales Mix
1,060
H1 2014 EBIT Volume
1,660-658
msek
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291
659
25,000
20,000
15,000
10,000
5,000
0
Cash Balance
& Marketable
Securities H1
2015
Cash Balance
& Marketable
Securities
FY2014
17,002
21,127
Exchange
on Cash
Financing
3,540
Marketable
Securities
Investing
-8,130
Operating
7,765
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CASH Flow – good management
VOLVO CAR GROUP; JAN-JUN 2015
msek
• Slight increase in Revenue
• Profitability improved
• EBIT Margin up from 1.4% to 2.2%
• Operating Income increased from MSEK 968 to
MSEK 1,660
• Good Cash Flow management for operating
and investing activities
Summary – Financials h1 2015
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• Sales growth close to 500,000 units
• Return to growth in the U.S.
• Positive impact from the XC90
• Substantial improvements in profitability
2015 Outlook – momentum continues
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Q&A
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