Truck-maker Volvo’s gains drop inspite of bigger sales

STOCKHOLM, Jan 26 ― Swedish truck-maker Volvo Group described today a marginally reduced earnings for 2022 even with climbing sales and warned of extra supply chain woes and vitality charges this calendar year.

The auto industry has been plagued by a lack of crucial sections, which includes semiconductors, due to the fact the world economic system emerged from Covid lockdowns in 2020.

“The circumstance in the global supply chain for components is nonetheless unstable, characterised by disruptions and unpredictability,” chief govt Martin Lundstedt mentioned in the company’s annual report.

“We will as a result keep on to have disturbances, stoppages and further expenditures,” he included.

For the complete 12 months, Volvo described web revenue of 473.5 billion Swedish kronor (RM197 billion), a 27-for each cent jump from 2021 and bigger than forecast by analysts surveyed by Bloomberg.

Web revenue fell from 32.8 billion kronor in 2021 to 32.7 billion kronor in 2022, below a Bloomberg forecast.

The organization also noted a substantial drop in web orders, slipping to 217.8 billion kronor in 2022 from 262.9 billion kronor in 2021.

“In get to deal with purchase e-book good quality and the price tag inflation, we have continued to be restrictive in slotting orders for production way too far into the long term,” Lundstedt reported. ― AFP

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