One of the reporting period’s most important and longed-for companies just released its report for the third quarter, namely Volvo. Here, we want investors to focus extra on order intake, profitability, the size of the cash register and the changeover.
Unfortunately, AB Volvo misses quite a few points in its report. Both turnover, operating profit and order intake were lower than analysts had expected.
Volvo CEO Martin Lundstedt – Comments:
“After a few years with markets at high levels in Europe and North America, volumes have decreased this year. There is some uncertainty surrounding the macroeconomic development in the short term and this is reflected in our forecasts with overall relatively unchanged markets for next year,” writes Volvo CEO Martin Lundstedt in the report.
Order intake was 43,234 trucks and the analysts had expected 46,949 trucks on average. In other words, a fairly steady boom.
Martin points out that we are currently in the midst of a great deal of temporary uncertainty around transport and infrastructure that may spill over into 2025 as well. In the longer term, however, you have to be positive, and Volvo is in a very good position there.
The dividend forecast for Volvo next year is around SEK 18/share. This corresponds to a dividend yield of 6.7%. I don’t think today’s report will change that forecast too much.
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