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Friday, April 25, 2014
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Volvo Group – the third quarter 2013

26/10/2013 17:23 (180 Day 14:14 minutes ago)

The FINANCIAL -- During the third quarter, the Volvo Group’s net sales decreased by 5% to SEK 64.9 billion, according to AB Volvo.

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Operating income amounted to SEK 2,502 M excluding restructuring charges of SEK 104 M. Operating income was negatively impacted by changes in currency exchange rates as well as costs related to the launch of new trucks, changeovers to the new trucks in the industrial system and parallel production of new and old generations of trucks. Operating margin in the third quarter was 3.9% excluding restructuring charges, according to AB Volvo.

• In the third quarter, net sales decreased by 5% to SEK 64.9 billion compared to SEK 68.3 billion in the third quarter of 2012. Adjusted for currency movements and acquired and divested units net sales increased by 3%.

• The third quarter operating income amounted to SEK 2,502 M (3,480) excluding restructuring charges of SEK 104 M (560). Compared with the third quarter of 2012, changes in currency exchange rates had a negative impact of SEK 1,068 M.

• Operating margin in the third quarter was 3.9% (5.1) excluding restructuring charges.

• In the third quarter, earnings per share were SEK 0.68 (0.69).

• In the third quarter, operating cash flow in the Industrial Operations was negative in an amount of SEK 5.3 billion (neg. 7.2).

• As part of the previously announced Group-wide efficiency program, a directional decision has been made to rationalize white collars in staff and support functions by approximately 2,000 employees and consultants. This rationalization comprises a large part of the announced SEK 5 billion of restructuring costs and SEK

“The Volvo Group’s third quarter was characterized by the ongoing comprehensive product renewal in the Group’s truck program and the fact that we entered a new phase of the Group’s development focused on taking actions to streamline and enhance the efficiency of our operations. The product renewal is the largest in the history of the Volvo Group, and it means that we are going to enter 2014 with a highly competitive product range,” said Olof Persson, President and CEO.

 

 

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Politics
“The former Yugoslav Republic of Macedonia”: presidential election and early parliamentary elections

23/04/2014 16:38 (1 Day 14:59 minutes ago)

The FINANCIAL -- A 14-member delegation of the Parliamentary Assembly of the Council of Europe (PACE), led by Stefan Schennach (Austria, SOC), will travel to “the former Yugoslav Republic of Macedonia” from 25 to 28 April to observe the conduct of the presidential election (2nd round) and the early parliamentary elections, alongside observers from the OSCE’s Parliamentary Assembly and Office for Democratic Institutions and Human Rights (ODIHR), according to PACE.

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Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (5 Day 17:57 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).







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