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Volvo AB (VOLVa.ST)

VOLVa.ST on Stockholm Stock Exchange

25 Oct 2016
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Latest Key Developments (Source: Significant Developments)

Platzer acquires property portfolio worth about SEK 2.8 bln from Volvo
Friday, 21 Oct 2016 02:00am EDT 

Platzer : Acquires property portfolio worth about 2.8 billion Swedish crowns ($315.20 million) from Volvo . Partially financed through a rights issue . Acquired properties are estimated to have an annual rental value of about 300 million crowns . Resolved, conditional on general meeting's approval, to carry out a new class B share issue of about 700 million crowns .Will also obtain new bank financing of up to 1.7 billion crowns.  Full Article

Volvo forecasts slower truck markets in Europe, North America in 2017
Friday, 21 Oct 2016 01:29am EDT 

Volvo : Volvo sees FY2017 european truck market of 280,000 units . Volvo sees FY2017 north american truck market of 215,000 units . Volvo sees FY2017 brazilian truck market of 35,000 units . Volvo sees FY2016 european truck market of 295,000 units versus previous forecast 290,000 units . Volvo sees FY2016 north american truck market of 240,000 units versus previous forecast 240,000 units . Volvo sees FY2016 brazilian truck market of 30,000 units versus previous forecast 30,000 units . Says volumes in our truck business were down in all markets except europe where activity remained high . Volvo sees FY2017 china construction equipment market flat to up 10 percent . Volvo sees fy2016 china construction equipment market -10 percent to unchanged versus previous forecast decline of 5-15 percent . Says production volumes have gradually been adjusted downwards to meet the lower demand and further steps will be taken . Says focus will be on the service business and continuous improvements . Says we see no immediate increase of demand and continue the internal work to focus on Volvo CE’s strongholds . Volvo Q3 trucks order intake 39,480 units versus mean forecast 39,139 units in reuters poll . Says given current market conditions we will continue to have strong focus on cost control and optimized utilization of our regional value-chains.  Full Article

Volvo Q3 adjusted operating profit matches forecasts
Friday, 21 Oct 2016 01:20am EDT 

Volvo AB : Q3 adjusted operating income in Q3 2016 amounted to SEK 4,846 m . Volvo AB says better underlying performance offset impact from lower volumes . Q3 sales decreased by 6% to sek 69 billion .Reuters poll: Volvo Q3 adjusted operating income seen at SEK 4.83 billion.  Full Article

Volvo says to make additional EUR 20 mln provision for EU anti-trust settlement
Tuesday, 19 Jul 2016 08:00am EDT 

AB Volvo :Says additional provision due to EU settlement will have a negative impact of EUR 20 mln (SEK 0.2 bln) on operating income in Q3 of 2016.  Full Article

Volvo Q2 core profit tops forecast, cuts N. America outlook
Tuesday, 19 Jul 2016 01:20am EDT 

AB Volvo : Q2 adjusted operating income amounted to SEK 6,130 mln vs year-ago 5,979 mln, corresponding to an operating margin of 7.8 pct vs year-ago 7.1 pct . Reuters poll: Volvo Q2 adjusted operating income seen at SEK 5.64 bln . Says Volvo CE continues to gain market shares in the heavy segment, particularly in Europe . Q2 sales decreased by 7 pct to SEK 78.9 billion . Repeats sees FY2016 European truck market of 290,000 units . Sees FY2016 North American truck market of 240,000 units vs pvs forecast 250,000 units . Repeats forecast for FY2016 brazilian truck market of 30,000 units . Q2 trucks order intake 45,422 units vs mean forecast 49,034 units in Reuters poll .Repeats FY2016 china construction equipment market seen contracting 5-15 pct.  Full Article

Truckmakers face fines from EU for price fixing - Bloomberg
Tuesday, 5 Jul 2016 12:45pm EDT 

:Truckmakers including Volvo AB and Iveco face fines from the European Union for charges of price fixing - Bloomberg, citing sources.  Full Article

Volvo CEO sees short-term Brexit effect, but no big lasting impact
Monday, 27 Jun 2016 10:24am EDT 

AB Volvo CEO Martin Lundstedt at webcast investor update in London: Asked about his view of customer behaviour in wake of UK Brexit vote: . "I think we will probably see some short-term reactions - that depends also on what sector you are into, what type of contracts you have" . "But I don't think it will have a big, lasting effect actually." Source: http://media.fronto.com/cloud/volvo/cap0627/ Further company coverage: [VOLVb.ST] ((niklas.pollard@thomsonreuters.com;)).  Full Article

Volvo Auto India says all Indian models comply with "stringent emission norms"
Wednesday, 25 May 2016 05:16am EDT 

Volvo Auto India: Volvo Auto India - All models in India are available in sub 2L engine options and comply with the most stringent emission norms .  Full Article

Volvo names Jan Ohlsson as head of Trucks Operations
Monday, 23 May 2016 04:20am EDT 

Volvo AB : Says Jan ohlsson appointed member of Volvo's Group Executive Board and Executive Vice President Group Trucks Operations, Volvo Group's global truck manufacturing organization .Says Ohlsson currently already serves as the Acting Head of Group Trucks Operations.  Full Article

Volvo completes sale of IT operation
Friday, 1 Apr 2016 02:30am EDT 

Volvo AB:Has completed the final agreement with HCL Technologies for the sale of its external IT operation and related assets and the outsourcing of its IT infrastructure.  Full Article

UPDATE 2-Volvo expects slower 2017 as demand in Europe cools

* Cost cuts help cushion hit from lower volumes (Adds CEO, analyst comment, share, Daimler)