沃尔沃集团（VOLVO）2025年第四季度及全年财报（英文版）（36页）.pdf

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1、 V O L V O G R O U P R E P O R T O N T H E F O U R T H Q U A R T E R A N D F U L L Y E A R 2 0 2 5Net sales SEK 123.8 billion(138.4)Adjusted operating income SEK 12.8 billion(14.0)The fourth quarter 2025In Q4 2025,net sales decreased by 11%and amounted to SEK 123.8 billion(138.4).Adjusted for curren

2、cy movements and the divestment of SDLG,net sales were on the same level as in the prior year.Both adjusted operating income1 and reported operating income amounted to SEK 12,769 M(14,039),corresponding to an operating margin of 10.3%(10.1).Currency movements had a negative impact on operating incom

3、e in an amount of SEK 2,072 M.Earnings per share amounted to SEK 4.73(5.28).Operating cash flow in the Industrial Operations amounted to SEK 19,319 M(24,270).The full year 2025Full year net sales amounted to SEK 479.2 billion(526.8).Adjusted operating income1 amounted to SEK 51,218 M(65,718),corresp

4、onding to an adjusted operating margin of 10.7%(12.5).Reported operating income amounted to SEK 48,506 M(66,611),corresponding to an operating margin of 10.1%(12.6).Earnings per share amounted to SEK 16.94(24.78).Operating cash flow in the Industrial Operations amounted to SEK 21,837 M(45,295).Retur

5、n on capital employed in the Industrial Operations amounted to 25.3%(35.8).The Board of Directors proposes an ordinary dividend of SEK 8.50 per share and an extra dividend of SEK 4.50 per share.138.4123.8Q4 2024Q1Q2Q3Q4 202514.012.810.1%10.3%Q4 2024Q1Q2Q3Q4 202535.8%25.3%Q4 2024Q1Q2Q3Q4 2025Fourth q

6、uarter Full yearSEK M unless otherwise stated2025202420252024Net sales 123,803 138,413 479,183 526,816 Adjusted operating income 12,769 14,039 51,218 65,718 Adjusted operating margin,%10.3 10.1 10.7 12.5 Operating income 12,769 14,039 48,506 66,611 Operating margin,%10.3 10.1 10.1 12.6 Income after