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Volvo Cars reports operating profit of SEK 14.2bn for 2018

Volvo Cars has reported an operating profit of SEK14.2 billion for 2018, an increase of 0.9 per cent compared with 2017.

Net revenue increased strongly by 21 per cent to SEK252.7 billion, on the back of the company’s best ever annual sales of 642,253 cars, an increase of 12.4 per cent compared to 2017.

The operating profit margin for the full year was 5.6 per cent, down from 6.7 per cent last year.

“This result is in line with our expectations, but does not totally live up to our longer-term ambitions. Revenue growth and sales in 2018 were healthy, but profitability was affected by external factors such as tariffs and increasing price competition in several markets,” said Håkan Samuelsson, president and chief executive.

 

“For 2019, we see another year of volume growth as we continue to benefit from our strong product program and increased capacity.” he added. “But we have to be realistic and acknowledge that margins will remain under continued pressure.”

Operating profit for the fourth quarter was SEK4.5 billion, an increase of 25 per cent compared to the same period last year.

Net revenue in the fourth quarter increased by 20 per cent to SEK73.0 billion, as retail sales rose 7.3 per cent to 169,700 cars. The operating profit margin for the period was 6.2 per cent, up from 5.9 per cent the same period last year.

Full details of the company’s financial results are available by following this link.

PASSENGER CARS

Sitra

Building No. 4018, Road No. 469,
Block No. 604, Al-Qarya.
Post Box No. 3044
Tel : (+973) 17 736 222
Fax: (+973) 17 736 669
Opening Hours:
Sat-Thu
8.00 AM to 7.00 PM

Sanad

Building No. 1266, Road No. 4130,
Block No. 921, Sanad – Buhair.
Post Box No. 3044
Tel : (+973) 17 621 162
Fax: (+973) 17 626 933
Opening Hours:
Sat-Thu
8.00 AM to 7.00 PM

COMMERCIAL VEHICLES

Nuwaidrat

Building No. 1489, Road No. 2630,
Block No. 626, Nuwaidrat,
Sh.Jaber Subah Highway, Sitra
Tel: (+973) 17 702 111
Fax: (+973) 17 702 704
Opening Hours:
Sat-Thu
8.00 AM to 7.00 PM

SERVICE CENTRES

Ma'ameer – Service

Building 22, Road 15, Block 635, Ma’ameer
Tel: (+973) 17 702 121
Fax: (+973) 17 701 551
Opening Hours (Commercial):
Sat-Thu 8:00am - 5:00pm

Opening Hours (Passenger):
Saturday – Wednesday from 7:00 AM – 6:00 PM
Thursday from 7:00 AM – 5:00 PM

Parts Ma'ameer

Building 551, Road 3417, Block 634, Ma’ameer
Tel: (+973) 17 706 050
Fax: (+973) 17 264 996
Opening Hours:
Sat-Thu 8:00am - 5:00pm

Motorcity Parts Salmabad

Building 1051, Road 419, Block 704, Salmabad
Tel: (+973) 17 141 179
Fax: (+973) 17 879 190
Opening Hours:
Sat-Thu 8:00am - 5:00pm

Motorcity Parts Muharraq

Building 1239, Road 10, Block 215, Muharraq
Tel: (+973) 17 330 111
Fax: (+973) 17 340 140
Opening Hours:
Sat-Thu 8:00am - 5:00pm

 
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