Volvo Car Ab Class B · OMXSTO:VOLCAR_B
Volvo Car Ab Class B — Q2 2024 Earnings Presentation
24 slides from Volvo Car Ab Class B's earnings presentation, Jul 18, 2024
Slide 1: Camm
Camm ara) MLB O90
Slide 2: Q2 highlights
| | | | . | Growth Market Share : | | | Gross Margin Strong double-digit retail sales growth Highest in Europe for Volvo Cars Highest gross margin in 7 years EX30 among top 3 BEVs in Europe Highest ever gross margin on BEVs EBIT Highest ever core EBIT and margin Electrified Highest share of Electrif
Slide 3: Overall retail sales growth and margins
15% Overall retail sales growth 22.8% 20% Strong gross margins Highest ever gross margins on BEVs i | 8.1% 8.2 48% Highest ever core SEK billion highest Electrified share of sales EBIT margin ever core EBIT BEV share of sales 26% a Ps Volvo Car Group Results Presentation Q2 2024
Slide 4: Electrified share of sales by quarter
48 20% 41 41 41 20 39 36 22 16% 34 15% 31 13% 20 15 25 23 23 23 20 21 9% 10 7% 24 6% 18 5% 26 18 18 21 5 3% 16 13 16 7 7 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 2022 2023 2024 PHEV Fully electric cars
Slide 5: Volvo Car Group Results Presentation Q2 2024
Volvo Car Group Results Presentation Q2 2024
Slide 6: Bi-directional charging
VoLuvoao BI-DIRECTIONAL CHARGING Volvo Car Group Results Presentation Q2 2024
Slide 7: New benefits to drivers
VoLvo Which will enable new benefits to drivers Home energy management m g al y Safety & security Speed & handling | / | Advanced driver } Assistance systems / Autonomous driving Volvo Car Group Results Presentation Q2 2024
Slide 8: Volvo Car Group Results Presentation Q2 2024
Volvo Car Group Results Presentation Q2 2024
Slide 9: Q2 — Key financials
Q2 — Key financials Cash flow from operating and investing activities (bn SEK) Revenue (bn SEK) Retail sales (k UNITS) EBIT / margin (bn SEK/%) ™@ Contract manufacturing G%) 8.0 205 102 101 179 0.7 4.9% ai Q2 Q2 Q2 Q2 QZ G2 200d" G2" 7 a2 2004 a2 a2 2023 2024 2023 2024 2023 oo 2024 ee 2023 2024 asso
Slide 10: Revenue bridge (bn SEK)
REVENUE BRIDGE (Bn sek) 102.2 27 101.5 0.7 — —— Revenue Contract | Revenue excl Volume Sales mix Deferred Foreign Other" Revenue excl Contract Revenue 2023 Q2 manufacturing Contract andpricing revenue —_exchange Contract manufacturing 2024 Q2 manufacturing rates manufacturing 41) including sale ofic
Slide 11: JV & Associates bridge
JV & Volume Sales mix Foreign Other1 JV & Associates and pricing exchange Associates rates
Slide 12: Q2 - BEV margins
voLvoao Q2 - BEV margins Volvo Car Group. Results Presentation Q2 2024
Slide 13: Q2 - Solid liquidity level
Q2 - Solid liquidity level Cash flow from operating and investing activities 0.1bn SEK Undrawn credit facilities ) Marketable securities Hl cash Liquidity EBITDA Networking Other —_— Investments Financing? _Liquidity March capital! working June 2024 capital? 2024 1) Change in inventories, accounts r
Slide 14: Capital allocation enabling future success
votuwvo Capital allocation enabling future success Cell to body NOVO. Mega casting E-motor Manufacturing Daqing Factory Taizhou Factory Charleston Factory Kosice Factory Platforms CMA (Gen 1) SEA SPA1 SPA2 (Gen 2) SPAS (Gen 3) 2015 Volvo Car Group Results Presentation Q2 2024
Slide 15: o o o o o o
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Slide 16: Looking ahead
Looking ahead ° O° 0 OIRO”. GeO RF Higher short-term uncertainties due to macroeconomic challenges j and tariffs will impact coming quarters Strong balanced lineup of premium cars — BEV, PHEV and MHEV jj First customer deliveries of the EX90 during Q3 “A 7 EX30 localised in Ghent during 2025 Remain
Slide 17: Capital Markets Day
Capital Markets D o 5 September in Got Focus on Volvo Cars’ commercial & brand s Sign-up at: investors.
Slide 18: Appendix
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Slide 19: Quarterly EBIT by period
8,423 8,216 6,038 10,801 6,315 6,428 6,148 6,677 6,795 5,528 5,714 5,668 4,316 3,887 7,969 5,877 3,513 5,100 4,993 5,388 4,706 4,815 4,612 4,458 3,329 3,708 3,443 2,050 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Volvo Cars excl. JV
Slide 20: Green Financing Framework loans
Loans agreed to solely finance eligible projects in accordance with the Green Financing Framework
Slide 21: Quarterly performance 2020-2024
Quarterly performance 2020-2023 (MSEK) 2020 2020 2020 2020 2021 2021 2021 2021 2022 2022 2022 2022 2023 2023 2023 2023 2024 2024 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 Revenue 56,517 55,242 65,763 85,311 68,593 72,538 60,838 80,076 74,269 71,300 79,329 105,247 95,705 102,152 92,045 10
Slide 22: Financial net, tax and earnings per share
votLuwvoao Financial net, tax and earnings per share Apr-Jun Apr-Jun MSEK 2024 2023 Operating income 7,969 4,993 Interest income and similar credits 590 598 Interest expenses and similar charges -602 -192 Other financial income and expenses -135 -26 Income/(loss) before tax 7,822 Income tax -2,168 I
Slide 23: EBITDA and operating cash flow
+11% +15% +21% 705 661 699 709 +14% 399 642 615 330 572 253 274 263 282 273 359 445 469 525 538 209 462 198 185 161 47 94 77 1 45 Coupe 89 101 98 99 98 96 24 82 37 2017 2018 2019 2020 2021 2022 2023 2017 2018 2019 2020 2021 2022 2023 (BN SEK) 39.2 12.7 12.9 32.1 10.9 11.4 11.4 11.5 % of Revenue 10.2
Slide 24: votLlvo
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