Volvo Car Corporation profitable in 2011
Volvo Car Corporation recorded an Earnings Before Interest and Taxes (EBIT) of 1 636 MSEK in 2011. Sales improved by 20.3 percent, to 449 255 units.
"I'm pleased looking back on our achievements during the past year. Our sales situation is positive and we have started the journey of turning the company into a successful luxury car brand. At the same time, we remain exposed to external factors and need to maintain focus in implementing our plans to secure sustainable profitability for the future", says Stefan Jacoby, President & CEO.
Financial report 2011
Volvo Car Corporation aims to be open and transparent around the business results. An annual and an interim financial report will be issued to disclose financial information and the business performance of the company. It contains CEO comments, a summary of the business and market development, as well as financial statements for the full-year and six-month period. The full 2011 Financial Report is available for download in PDF format here.
Full year 2011 results
A strong product and market mix contributed to a revenue of 125.5 BSEK and an EBIT of 1 636 MSEK for 2011. Profitability was mainly affected by increased research & development costs and industrial capacity to support expansion plans and the new product strategy, in particular in the second half of the year. Additionally, unfavourable exchange rates and higher raw material prices affected results negatively.
Retail sales in 2011 increased by 20.3 per cent to 449,255 units. Significant growth was recorded in all sales regions, with China demonstrating an increase of 54.4 per cent over 2010. US grew by 24.7 per cent, Sweden by 10.5 per cent, and Europe improved by 10 per cent compared to 2010. Market shares improved in all major markets compared to prior year.
Volvo Announces April Sales
ROCKLEIGH, N.J. (May 1, 2012) - Volvo Cars of North America, LLC, (VCNA) reported U.S. sales of 4,847 units, a 24.3 percent decrease from April 2011. Year-to-date sales are down 2.7 percent over the first four months of 2011.
The top seller for the month was the award-winning S60 sports sedan with 1,732 units sold, followed by the XC60 with 1,261 units sold.
New Volvo buyers benefit from Volvo's Safe + Secure Coverage Plan. A complimentary program, Safe + Secure wraps a comprehensive list of benefits into one package. Specifically, it provides:
- 5 years/50,000 miles of New Car Warranty
- 5 years/50,000 miles of Complimentary Factory Scheduled Maintenance
- 5 years/50,000 miles of Wear and Tear Coverage
- 5 years/Unlimited miles of Volvo On Call Roadside Assistance.
PUMA Points North
After a tense night with plenty of cloud activity and a few gybes this morning to set up the angle for the turning point at Recife on the coast of Brazil, PUMA Ocean Racing Powered by BERG has continued to hang on to the lead she claimed a 0400 GMT this morning.
Although Ken Read and his men have been able to put some distance between CAMPER Emirates Team New Zealand (Chris Nicholson/AUS) in second place and themselves, it is far from secure and the margin at 10.9 nautical miles is only just into double figures. Telefónica (Iker Martínez/ESP) moving into third place at 1600 GMT is once again proving a threat to the American lead, although they have replaced CAMPER as Abu Dhabi Ocean Racing’s sparring partner. The pair is neck and neck with Ian Walker and his crew on board Azzam as the windward boat.
CAMPER is 216 nm south east of Salvador De Bahia. “We’d be happy to be another 40 miles east than where we are now, but, at the same time, we are only 180 nm off the coast, so the breeze only has to shift 10 degrees further right and we’d be very happy with where we are,” said CAMPER navigator Will Oxley, looking into the fine detail. While the CAMPER team is happy with how their boat is performing, matching the rest of the fleet both in light airs and upwind, the crew of the trailing Groupama (Franck Cammas/FRA) are not quite so comfortable.
“We are putting a great deal of effort in, but it is failing to pay off,” said helmsman/trimmer Charles Caudrelier. The team are mystified as to why Groupama 4 is not performing and is now 75 nm in arrears.
“We’ve had a speed deficit during the start of this course, which means that we have fallen behind,” Caudrelier said. The crew has checked that nothing is wrapped around the appendages, even sending Caudrelier into the water to take a proper look, but nothing was found. “Right now, those at the front of the pack are tending to make good their escape, but we can’t really explain our deficit,” the Frenchman said.
With the trade winds yet to fully establish, there are still options for the French in the next day or so and Telefónica skipper Iker Martínez was quick to point out that although being the first boat to reach the trades normally gives a big advantage, it also depends on the stability and strength of the winds.
At 1900 GMT the five-boat fleet continued their compression as bows were pointed north, with a little over 1,000 nm covered since the leg start on April 22. From her windward position, PUMA’s Mar Mostro led CAMPER by 10.9 nm, with Telefónica 33.8 nm and Abu Dhabi 34.7 nm behind.