Another truck and bus manufacturer Volvo AB (OMX: VOLV B) reported quarterly earnings this morning. Net sales were 79 billion Swedish kronor, up 15% from 69 billion in Q2 of 2010. Sales were up even more strongly (29%) when adjusted for currency movements and one-off items. Operating margin approached 10% and EPS amounted to 2.52 SEK. The share is up 5% at 107 SEK.
The effect of the earthquake in tsunami in Japan on Volvo’s business was around 400 million SEK. Market conditions have improved in Europe and softened in China construction where Volvo is market leader in wheel loaders and excavators. India’s growth rate has reduced as well. You can find the interim report from Volvo’s interim reports page.
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