Business Segments AB Volvo

Equities

VOLV B

SE0000115446

Heavy Machinery & Vehicles

Market Closed - Nasdaq Stockholm Other stock markets 17:00:00 11/03/2026 GMT			5-day change	1st Jan Change
331.70 ^SEK	-0.60%		-0.39%	+12.10%

03-11	Carnegie All Cap rose 4.86 percent in February - strong reports boosted holdings	FW
03-11	Alfred Berg Sverige Gambak rose 4.20 percent in February - sold holdings in Volvo Cars, Camurus and Verisure	FW

Sales 2025 by Business Segment

Sales 2025 by Geography

Historical Breakdown of Revenue by Business Segments

Net Income: Breakdown by Business Segment

Breakdown by Business Segment (SEK)

Fiscal Period: December	2021	2022	2023	2024	2025
Heavy Duty Trucks
Industrial Operations - Trucks	231B	311B	373B	361B	323B
CAPEX	-10.71B	-14.29B	-	-	-
Operating Income	25.57B	33.82B	55.39B	45.83B	31.73B
Total Assets	371B	432B	440B	452B	401B
Interest Expense	-1.17B	-1.51B	-1.68B	-1.59B	-1.82B
Income Tax Expense	9.14B	11.21B	15.77B	15.54B	11.67B
CAPEX	-	-	-13.09B	-13.89B	-18.34B
EBT	39.9B	44.23B	63B	63.17B	43.52B
Gross Profit	84.01B	105B	142B	135B	108B
D&A	10B	11.52B	8.68B	9.16B	10.39B
Net Income	30.76B	33.02B	47.24B	47.63B	31.85B
Construction Machinery and Equipment
Industrial Operations - Construction Equipment	92.03B	100B	105B	88.3B	81.64B
CAPEX	-1.34B	-1.6B	-	-	-
Operating Income	12.23B	13.24B	16.99B	12.74B	10.86B
Personal Credit Agencies
Financial Services	13.44B	17.36B	24.01B	26.98B	26.47B
Total Assets	181B	235B	270B	298B	275B
Income Tax Expense	807M	901M	1.02B	1.09B	1.02B
CAPEX	-9.3B	-9.23B	-10.36B	-3M	-3M
EBT	3.29B	848M	3.72B	4.04B	3.87B
Gross Profit	5.74B	6.71B	7.63B	8.38B	8.35B
D&A	62M	78M	22M	26M	32M
Operating Income	3.28B	3.42B	3.86B	4.04B	3.92B
Net Income	2.48B	-53M	2.7B	2.95B	2.85B
Buses
Industrial Operations - Buses	13.65B	18.58B	22.42B	24.54B	25.07B
CAPEX	-347M	-492M	-	-	-
Operating Income	59M	353M	1.06B	2.23B	2.27B
Industrial Operations - Group Functions and Other	13.46B	16.38B	16.81B	16.55B	-
Operating Income	-2.26B	-2.91B	-2.95B	-2.94B	-
Sporting and Recreational Goods
Industrial Operations - Volvo Penta	14.44B	18.1B	21.01B	19.85B	20.6B
CAPEX	-750M	-900M	-	-	-
Operating Income	2.09B	2.53B	3.23B	3.42B	3.59B
Industrial Operations - Group Functions & Other Incl. Eliminations	-	-	-	-	6.74B
CAPEX	-590M	-825M	-	-	-
Operating Income	-	-	-	-	-1.4B
Eliminations	-3.4B	-4.16B	-5B	-4.88B	-
Total Assets	-36.36B	-37.67B	-36.05B	-34.95B	-27.57B
Interest Expense	4M	307M	518M	-	-
Income Tax Expense	-	-	-	-	-
CAPEX	21M	19M	61M	-	-
EBT	2M	2M	2M	-	-
Gross Profit	2M	2M	-	371M	258M
Operating Income	53M	12M	55M	32M	-
Net Income	1M	1M	2M	-	-
Reclassifications and Eliminations	-2.28B	-3.58B	-4.52B	-5.14B	-4.8B
Operating Income	2M	2M	2M	371M	258M
Net Income	-456M	-247M	-	-	-251M

Geographical Revenue Distribution History

Geographical breakdown of sales (SEK)

Fiscal Period: December	2021	2022	2023	2024	2025
Other Europe	99.59B	118B	149B	134B	115B
Total Assets	27.83B	34.74B	35.4B	38.05B	29.81B
USA	81.32B	115B	138B	134B	114B
Total Assets	20.52B	25.37B	25.47B	31.56B	26.49B
Asia (Excl. China)	-	41.96B	51.62B	43.34B	44.1B
Total Assets	-	3.35B	3.49B	3.74B	3.26B
France	30.81B	36.25B	46.06B	41.54B	35.21B
Total Assets	12.27B	14.44B	14.26B	15.41B	15.17B
Brazil	21.79B	37.2B	35.99B	43.33B	31.01B
Total Assets	1.58B	2.23B	3.46B	3.57B	3.81B
UK	17.51B	23.64B	28.09B	29.21B	27.88B
Total Assets	8.4B	7.28B	6.48B	6.4B	6.15B
North America (Excl. USA)	17.45B	21.66B	26.97B	28.3B	26.32B
Total Assets	1.94B	2.1B	1.93B	2.07B	6.04B
Spain	-	-	-	-	16.73B
Total Assets	-	-	-	-	8.64B
Africa and Oceania (Excl. Australia)	-	-	-	-	15.54B
Total Assets	-	-	-	-	1.41B
South America (Excl. Brazil)	8.63B	14.54B	13.18B	13.23B	15.43B
Total Assets	482M	554M	532M	562M	523M
Australia	-	-	-	-	14.97B
Total Assets	-	-	-	-	1.78B
Sweden	10.16B	12.79B	13.9B	11.73B	11.69B
Total Assets	26.44B	26.9B	31.94B	37.75B	43.62B
China	29.68B	22.43B	14.49B	15.44B	11.06B
Total Assets	2.31B	2.38B	1.99B	1.96B	505M
Africa and Oceania	-	29.03B	36.06B	32.84B	-
Total Assets	-	3.26B	3.05B	3.25B	-
Japan	5.93B	-	-	-	-
Total Assets	-	-	-	-	-
Asia (Excl. China & Japan)	27.55B	-	-	-	-
Total Assets	3.08B	-	-	-	-
Other Markets	21.8B	-	-	-	-
Total Assets	2.66B	-	-	-	-