Volvo Ab Class A · OMXSTO:VOLV_A
Volvo Ab Class A — Q2 2026 Earnings Presentation
19 slides from Volvo Ab Class A's earnings presentation, Sep 7, 2026
Slide 1: Volvo Group: Built for resilience and growth
Volvo Group Built for resilience and growth Business Update following Q2 2026 Business Update post Q2 2026 2026 -09 -07 1
Slide 2: A winning recipe for the future
A winning recipe for the future CUSTOMER TCO, UPTIME & DECENTRALIZED FOR TRUST PRODUCTIVITY SPEED AND EXECUTION Excelling on the basics will still make us unique Business Update post Q2 2026 2
Slide 3: We drive performance using our toolbox
We drive performance using our toolbox Decentralized decisions Flexibility tools Price discipline Increased service business Cost control Business Update post Q2 2026 3
Slide 4: The Volvo Group strategic direction is clearly defined and put into execution
The Volvo Group strategic direction is clearly defined and put into execution… • Secure strong positions in key markets with focus on North America • Reaching the full potential of the service business • Lead the transformation in our industries • Drive product leadership and synergies across the Gr
Slide 5: Driving growth – capitalizing on investments made
Driving growth – capitalizing on investments made Four key levers 700 Net sales, BSEK Growing global transport demand 600 Historical CAGR: 5.3% Targeting specific regions and growth segments 500 Driving sales through market share gains 400 Increasing content and service value through total offer 300
Slide 6: Our strategy serves both our customers and our financial performance well
… and our strategy serves both our customers and our financial performance well Adjusted operating income* Margin SEK bn 100 16% 80 10,9% 12% 60 8,2% 8% 40 51 4% 20 20 0 0% Business Update post Q2 2026 2026 -09 -07 6 *Reported operating income 201 5 – 2021, Adjusted operating income 2022 – 2026
Slide 7: Our service business brings us closer to our customers and adds earnings resilience
Our service business brings us closer to our customers and adds earnings resilience VOLVO GROUP SERVICE SALES SEK bn (incl. Financial Services) 140 126 120 24/7/36 100 77 80 60 40 20 0 Business Update post Q2 2026 2026 -09 -07 7
Slide 8: Group Trucks delivered resilient performance in 2025
Group Trucks delivered resilient performance in 2025 despite lower market volumes, tariffs and geopolitical uncertainty Africa & South Europe North America Asia Oceania America World Net 2025 49% 27% 8% 6% 11% 100% sales Volvo Trucks 66% Renault Trucks 19% Mack Trucks 16% Truck JVs Not material Tran
Slide 9: Investments laying the foundation to strengthen resilience and business growth
Investments laying the foundation to further strengthen resilience and business growth R&D GROSS, INDUSTRIAL CAPEX INVESTMENTS, INDUSTRIAL OPERATIONS, BSEK OPERATIONS, BSEK 32 30 29 25 19 18 18 16 13 14 11 8 9 5 2019 2020 2021 2022 2023 2024 2025 2019 2020 2021 2022 2023 2024 2025 Business Update po
Slide 10: Capital allocation for resilience, growth and shareholder returns
Capital allocation for resilience, growth and shareholder returns FORWARD -LEANING INVESTMENTS STRONG RETURN ON CAPITAL INTO TECHNOLOGY, INNOVATION, EMPLOYED INDUSTRIAL AND COMMERCIAL SYSTEMS ATTRACTIVE SHAREHOLDER RETURNS 36% Ordinary dividend 37% Extra dividend 27% Proceeds from UD divestment 28%
Slide 11: Market forecast as of 26Q2: Trucks
TRUCKS Market forecast as of 26Q2 NORTH AMERICA HD EUROPE HD 2025: 258' 2025: 296' Forecast 2026: 265' Forecast 2026: 315' BRAZIL HD INDIA HD+MD CHINA HD+MD 2025: 87' 2025: 378' 2025: 903' Forecast 2026: 80' Forecast 2026: 400' Forecast 2026: 880' Volvo Group | Second quarter 2026 2026 -07 -17 11
Slide 12: Market forecast as of 26Q2: Construction Equipment
CONSTRUCTION EQUIPMENT Market forecast as of 26Q2 NORTH AMERICA* Forecast: 2026: 0% to +10% EUROPE Forecast: 2026: 0% to +10% SOUTH AMERICA Forecast: 2026: -5% to +5% ASIA ( excl. CHINA) Forecast: 2026: -10% to 0% CHINA Forecast: 2026: +5% to +15% Volvo Group | Second quarter 2026 2026 -07 -17 12
Slide 13: Leveraging CAST globally
Leveraging CAST globally CAB OVER ENGINE CONVENTIONAL VOLVO CE TRUCK BUSES ALLIANCES VOLVO PENTA Business Update post Q2 2026 CAST – Common Architecture , Shared Technology 13
Slide 14: Application excellence | Tailor-made equipment | At scale
Application excellence | Tailor -made equipment | At scale TCO UPTIME PRODUCTIVITY
Slide 15: Business Update post Q2 2026
9.8% 9.0% 6.5% 6.3% 2.4% Business Update post Q2 2026 2026 -09 -07 15
Slide 16: Business Update post Q2 2026
Business Update post Q2 2026 2026 -09 -07 16
Slide 17: Volvo vs MSCI World Machinery Index
Volvo vs MSCI World Machinery Index 2016 Jan – 2026 August Business Update post Q2 2026 2026 -09 -07 17
Slide 18: Disclaimer
Disclaimer This presentation has been prepared by AB Volvo ( publ ) (the "Company” and together with its subsidiaries, the "Volvo Group") for information and background purposes only. This presentation is not, and should not be construed as, a prospectus or offering document, an d h as not been revi
Slide 19: Business Update post Q1 2026
Business Update post Q1 2026 2026 -09 -07 19