(RTTNews) – Volvo Automobile AB (VLVCY, VOLCAR-B.ST), a Swedish producer of luxurious autos, on Thursday introduced that it reported a web loss within the second quarter in comparison with the earlier yr.
The decline was largely pushed by lowered wholesale volumes and unfavorable forex impacts from a stronger Swedish krona through the quarter, although larger used automobile gross sales helped cushion the impact.
For the second quarter, web loss got here in at SEK 8.10 billion in comparison with web earnings of SEK 5.65 billion final yr.
Loss per share was SEK 2.53 versus earnings per share of SEK 1.79 within the earlier yr.
Two analysts, on common, had anticipated the corporate to report SEK 0.25 per share. Analysts’ estimates usually exclude particular gadgets.
EBITDA declined to SEK 7.55 billion from SEK 13.94 billion within the prior yr.
Working loss got here in at SEK 9.96 billion in contrast with working earnings of SEK 7.97 billion within the earlier yr.
Income decreased to SEK 93.49 billion from SEK 101.45 billion final yr.
Wanting forward, the corporate is specializing in boosting gross sales by increasing its EV lineup, together with the EX30 and upgraded EX90. Manufacturing has began in Ghent to cut back tariffs, and the ES90 and XC70 launches are deliberate for later this yr.
The corporate stated that the EX60 is on monitor for 2026, and the SEK 18 billion turnaround plan is already displaying outcomes.
On Wednesday, VOLCAR-B.ST closed buying and selling 3.14% lesser at SEK 17.76 on the Stockholm Inventory Trade.
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