Volvo Car B

Volvo Car AB (publ) repurchased 2,014,873 series B shares between 12 August and 16 August 2024 as part of a repurchase program aimed at ensuring future delivery of shares to participants in its Performance Share Plans and Employee Share Matching Plans. The program allows for a maximum repurchase of 6,500,000 series B shares up to SEK 300 million. The repurchases were conducted in compliance with EU regulations and executed by Skandinaviska Enskilda Banken AB on Nasdaq Stockholm. Following these acquisitions, Volvo Cars holds 2,014,873 series B shares out of a total of 2,979,524,179 series B shares. For further details, contact Volvo Cars Media Relations or Investor Relations. In 2023, Volvo Car Group achieved a record core operating profit of SEK 25.6 billion, with revenue reaching SEK 399.3 billion and global sales hitting 708,716 cars. Founded in 1927 and listed on Nasdaq Stockholm, Volvo Cars aims to become a fully electric car maker by 2030 and achieve net-zero greenhouse gas emissions by 2040. As of December 2023, the company employed approximately 43,400 full-time employees, with its main operations based in Gothenburg, Sweden, and production plants in multiple locations worldwide.

Volvo Car AB:s styrelse har beslutat att återköpa upp till 6 500 000 egna aktier, i linje med ett bemyndigande från årsstämman den 26 mars 2024. Syftet med återköpsprogrammet är att stödja framtida aktieleveranser till deltagare i bolagets prestationsaktie- och aktiematchningsprogram. Programmet kommer att genomföras enligt EU:s marknadsmissbruksförordning och Safe Harbor-förordningen, och hanteras av Skandinaviska Enskilda Banken AB (SEB), som agerar oberoende av Volvo Cars. Företaget äger för närvarande inga egna stamaktier. För mer information kan media och investerare kontakta Volvo Cars Media Relations eller Investor Relations. För helåret 2023 rapporterade Volvo Car Group ett rekordhögt rörelseresultat på 25,6 miljarder SEK och en omsättning på 399,3 miljarder SEK, med en global försäljning av 708 716 bilar. Volvo Cars, grundat 1927, är ett välkänt bilmärke med försäljning i över 100 länder och är noterat på Nasdaq Stockholm. Företaget strävar efter att tillverka enbart elbilar till 2030 och att nå nettonollutsläpp av växthusgaser till 2040. I december 2023 hade Volvo Cars cirka 43 400 heltidsanställda, med huvudkontor och flera produktionsanläggningar i olika delar av världen.

Volvo Car AB's Board has decided to repurchase its own shares, as authorized by the Annual General Meeting on March 26, 2024. This repurchase aims to support the delivery of shares to participants in the company's Performance Share Plans and Employee Share Matching Plans from 2022 and 2023. The repurchase will comply with the Market Abuse Regulation (EU) No 596/2014 and the Safe Harbour Regulation (EU) No 2016/1052, and will be managed by Skandinaviska Enskilda Banken AB (SEB), which will make independent trading decisions. Volvo Cars currently has 2,979,524,179 series B shares and does not hold any own shares as of this announcement. In 2023, Volvo Car Group achieved a record core operating profit of SEK 25.6 billion and a record revenue of SEK 399.3 billion, with global sales reaching 708,716 cars. Founded in 1927, Volvo Cars is a well-known brand with sales in over 100 countries and is listed on the Nasdaq Stockholm exchange under the ticker "VOLCAR B". The company aims to become a fully electric car maker by 2030 and achieve net-zero greenhouse gas emissions by 2040. As of December 2023, Volvo Cars employed approximately 43,400 full-time employees, with main operations in Gothenburg, Sweden, and production plants in multiple global locations.

Volvo Car AB (publ) meddelar att konverteringsperioden för svenska depåbevis (SDB:er) till amerikanska depåbevis (Polestar ADS:er av serie A) noterade på Nasdaq New York avslutas den 13 augusti 2024. Innehavare av SDB:er uppmanas att anmäla om konvertering i god tid innan detta datum. Efter konverteringsperiodens slut kommer alla icke-konverterade SDB:er att automatiskt inlösas och de underliggande Polestar ADS:erna säljas på Nasdaq New York, med utbetalning av likviden förväntad omkring den 27 augusti 2024. Mer information och detaljerade instruktioner finns på Volvo Cars hemsida. Volvo Cars, grundat 1927, är ett globalt erkänt bilmärke med ambitionen att tillverka enbart elbilar till 2030 och nå nettonollutsläpp av växthusgaser år 2040. Företaget har cirka 43 400 heltidsanställda och produktionsanläggningar i flera länder. Informationen i detta dokument är endast avsedd som bakgrundsinformation och utgör inte ett erbjudande om värdepapper.

Volvo Car AB (publ) reminds shareholders that the conversion period for Swedish Depository Receipts (SDRs) into American Depository Shares (Polestar Class A ADSs) will expire on August 13, 2024. Holders of SDRs should apply for conversion well in advance. After the expiration, any unconverted SDRs will be automatically redeemed and sold on Nasdaq New York, with proceeds paid to holders around August 27, 2024. Detailed information and instructions are available on Volvo Cars’ website. Volvo Cars emphasizes that this document is for informational purposes only and does not constitute an offer for securities. The company also highlights its commitment to becoming a fully electric car maker by 2030 and achieving net-zero greenhouse gas emissions by 2040. For further information, contact Volvo Cars Media Relations or Investor Relations.

Volvo Cars rapporterar ett rekordhögt rörelseresultat på 8,2 miljarder SEK för andra kvartalet 2024, en ökning med 28 procent jämfört med samma period 2023. EBIT-marginalen steg till 8,1 procent från 6,3 procent året innan. Förbättringen tillskrivs prisdisciplin, kostnadskontroll och försäljningstillväxt. Global försäljning ökade med 15 procent till 205 400 bilar, där elektrifierade bilar ökade med 43 procent. Bruttomarginalen steg till 22,8 procent, med en rekordhög bruttomarginal på 20 procent för helt elektriska bilar. Omsättningen minskade marginellt till 101,5 miljarder SEK på grund av minskade intäkter från kontraktstillverkning och normalisering av försäljning till biluthyrningsföretag. VD Jim Rowan framhöll företagets stabila operativa momentum och ökade marknadsandelar i Europa och USA. Volvo Cars fortsätter att investera i nya modeller och förbättringar av befintliga. Företaget förväntar sig en försäljningsvolymökning på 12–15 procent för 2024, trots makroekonomiska och geopolitiska osäkerheter. Volvo Cars förväntar sig neutralt fritt kassaflöde för 2024 och 2025, med starka kassaflöden från 2026.

Volvo Cars reported an operating profit (EBIT), excluding joint ventures and associates, of SEK 8.2 billion for Q2 2024, the highest ever for a single quarter and a 28% increase from Q2 2023. The core EBIT margin rose to a record 8.1%, up from 6.3% the previous year, driven by pricing discipline, cost control, and sales growth. Global retail sales increased by 15% to 205,400 cars, with electrified car sales (plug-in hybrids and electric vehicles) up 43%. Plug-in hybrids and fully electric vehicles made up 48% of global sales, with fully electric vehicles accounting for 26%. The EX30 small SUV and XC60 plug-in hybrid were top sellers in Europe. Gross margins increased to 22.8%, with EV gross margins reaching 20%. Revenue for the quarter was SEK 101.5 billion, slightly down from SEK 102.2 billion last year, due to reduced contract manufacturing income and normalized rental company sales. Core revenues remained stable. CEO Jim Rowan highlighted the company's strong performance and ability to create value despite geopolitical and economic challenges. Volvo Cars increased its market share in Europe and the US and maintained its position in China. The company is focusing on a balanced portfolio of fully electric, plug-in hybrid, and mild hybrid models to bridge towards full electrification. Production of the EX90 electric SUV began in South Carolina, with customer deliveries expected in Q3 2024. The EX30 will also be produced in Ghent, Belgium, starting in 2025, to mitigate potential EU tariffs on Chinese-made EVs. Volvo Cars expects retail sales to grow by 12-15% in 2024, barring major disruptions, and aims for neutral cash flow in 2024 and 2025, with strong cash flows expected from 2026 onwards. The company continues to invest in new models and improvements, with further details to be shared during its Capital Markets Day in September. Volvo Cars remains committed to becoming a fully electric car maker by 2030 and achieving net-zero greenhouse gas emissions by 2040.

Volvo Cars meddelar att Polestars preliminära resultat för 2023, inklusive nedskrivningar på cirka 450 MUSD, kommer att ha en icke-materiell nettoeffekt på Volvo Cars finansiella resultat. Justeringar baserade på Volvo Cars ägarandel i Polestar kommer att inkluderas i resultatet för det andra kvartalet 2024. Dessa justeringar kompenseras till stor del av positiva effekter från minskningen av Volvo Cars ägarandel i Polestar till 18 procent. Volvo Cars rapporterade ett rekordhögt rörelseresultat på 25,6 miljarder SEK och en omsättning på 399,3 miljarder SEK för 2023. Företaget planerar att enbart tillverka elbilar 2030 och strävar efter nettonollutsläpp av växthusgaser år 2040.

Volvo Cars announced that the overall impact of Polestar's 2023 financial and operational results on its financial outcomes will be minimal. This is due to the combination of Polestar's results and a change in Volvo Cars' ownership percentage in Polestar. Polestar reported impairment charges of approximately $450 million, which were not known to Volvo Cars when it reported its 2023 full-year results. Volvo Cars will adjust its second quarter 2024 results based on its 48.3% ownership of Polestar at the end of 2023. This adjustment will be largely offset by positive effects from the distribution of Polestar shares and a reduced ownership to 18% as of May 8, 2024. The total net effect of these adjustments is expected to be non-material for Volvo Cars and will be included in its second quarter 2024 results, to be released on July 18, 2024. For further information, contact Volvo Cars Media Relations or Investor Relations. In 2023, Volvo Car Group achieved a record core operating profit of SEK 25.6 billion and revenue of SEK 399.3 billion, with global sales reaching 708,716 cars. Founded in 1927, Volvo Cars aims to become a fully electric car maker by 2030 and achieve net-zero greenhouse gas emissions by 2040. As of December 2023, the company employed around 43,400 full-time employees and has production plants in multiple countries, including Sweden, Belgium, the US, and China.

Volvo Car AB (publ) announced a distribution of shares in Polestar Automotive Holding UK PLC to its shareholders, which temporarily increased the number of shares and votes in Volvo Cars. Following a share split and automatic share redemption, the total number of shares and votes returned to 2,979,524,179 as of 31 May 2024. This action was resolved during the Annual General Meeting on 26 March 2024 and finalized by the Board on 5 April 2024. Detailed information is available on Volvo Cars' website. Additionally, Volvo Cars reported a record core operating profit of SEK 25.6 billion and revenue of SEK 399.3 billion for 2023, with global sales of 708,716 cars. Volvo Cars, founded in 1927 and listed on Nasdaq Stockholm, aims to become a fully electric car maker by 2030 and achieve net-zero greenhouse gas emissions by 2040. As of December 2023, it employed approximately 43,400 people, with major operations in Gothenburg, Sweden, and production plants in multiple countries.