In the second quarter of 2025, Volvo Group experienced a decline in net sales by 5% when adjusted for currency movements, reaching SEK 122.9 billion compared to SEK 140.2 billion the previous year. Martin Lundstedt, President and CEO, commented on the quarter, noting “a general stabilization of the European market and more of uncertainty and a wait-and-see mode among customers in North America.” Vehicle sales were down by 6% from Q2 2024 after currency adjustments, while service development remained strong.
The company reported an adjusted operating income of SEK 13.5 billion with an operating margin of 11.0%. In contrast, the reported operating income was SEK 9.961 billion with a margin of 8.1%. Currency movements negatively impacted operating income by SEK 2,310 million.
Earnings per share decreased to SEK 3.64 from SEK 7.65 in Q2 2024. Operating cash flow in Industrial Operations amounted to SEK 2,948 million, and return on capital employed was at 25.7%.
A press and analyst conference call is scheduled with an online presentation starting at 09:00 CEST.
For further information including an interview with CEO Martin Lundstedt, visit Volvo Group’s investor website.
This report was made public as required under EU regulations and the Securities Markets Act.
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