Volvo Car Ab Class B · OMXSTO:VOLCAR_B
Volvo Car Ab Class B — Q2 2026 Earnings Presentation
20 slides from Volvo Car Ab Class B's earnings presentation, Jul 17, 2026
Slide 1: Report Q2 2026
Report Q2 2026 17 July, 2026 Håkan Samuelsson, President & CEO Erik Severinson, Chief Commercial Officer Fredrik Hansson, Chief Financial Officer
Slide 2: Slide 2
Slide 3: Report Q2 2026
Report Q2 2026 17 July, 2026 Håkan Samuelsson, President & CEO Erik Severinson, Chief Commercial Officer Fredrik Hansson, Chief Financial Officer
Slide 4: Challenging business environment
Volvo Car Group Results Presentation Q2 2026 Q2 2026 01 Challenging business environment • Sharp decline for total market in China • Low consumer confidence 02 Financially tough quarter 03 Focusing on what we can influence 4
Slide 5: Growing through electrification
Volvo Car Group Results Presentation Q2 2026 Growing through electrification 14% 25% 52% 2.5x Q2 BEV Growth Q2 BEV Share Q2 Electrification Share YTD Electrification vs. ICE Growing faster than Best-in-class Best-in-class Market Share market Growing in electrified segment 5
Slide 6: EX60 with game-changing HuginCore
Volvo Car Group Results Presentation Q2 2026 EX60 with 01 02 03 game-changing Start of customer deliveries in Sweden Ramp-up of production in H2 to Strong growth in customer orders led HuginCore is meet strong demand by Sweden, Germany here and Belgium 6
Slide 7: Key highlights
Volvo Car Group Results Presentation Q2 2026 Key highlights 01 03 Granted specific XC70 gaining share in authorisation on ICTS China’s highly competitive from the US PHEV segment 02 04 Signed MoU with Rolling out next gen Belgium govt to AI, assistant Gemini improve competitiveness of Volvo Car Gent
Slide 8: Good progress on cost savings
Volvo Car Group Results Presentation Q2 2026 Good progress on cost savings 01 Delivered SEK 8 bn cost savings vs. SEK 5 bn full year target 02 Further focus on cost savings in H2 8
Slide 9: Strategy update
Volvo Car Group Results Presentation Q2 2026 Strategy update From a premium car brand to the leading premium car brand. 01 Most ambitious product plan in Volvo Cars’ history 02 Regional structure 03 Very unique synergies 04 More than just a hardware car Join us on 17 September. 9
Slide 10: Volvo Cars: Europe resilient, US turning around but very tough in China
Volvo Car Group Results Presentation Q2 2026 Volvo Cars: Europe resilient, US turning around but very tough in China Europe United States China 01 Resilient sales performance 01 Signs of recovery in May and 01 Sales affected due to severe in a very competitive market June market downturn 02 Maintain
Slide 11: Executing on our Commercial strategy
Volvo Car Group Results Presentation Q2 2026 Executing on our Commercial strategy Resilient performance in A more efficient commercial Europe with electrification. machine. EX30 EX60 EX90 Regionalised Care live in Commercial Record sales First deliveries Doubled Q2 structure in Sweden performance in
Slide 12: Financial update
Report Q2 2026 Financial update 12
Slide 13: Q2 financial summary
Volvo Car Group Results Presentation Q2 2026 Q2 financial summary Retail sales Wholesales Revenue EBIT Cash flow (k UNITS) (k UNITS) (bn SEK) (bn SEK/%) from operating and investing activities (bn SEK) +10.8 bn -6% -6% -17% -9.4 bn 0.8 182 180 93 (1.1%) 4.2 172 169 78 -10.0 (-10.6%) -5.2 Q2 Q2 Q2 Q2
Slide 14: Revenue impacted by lower volumes and one-offs
Volvo Car Group Results Presentation Q2 2026 Revenue impacted by lower volumes and one-offs Revenue bridge, in billion SEK 93.5 -3.3 77.7 -5.1 -3.1 -1.8 -2.5 Revenue Sales of Volume Sales mix Foreign Other Revenue Q2 2025 subscription car and pricing exchange rates Q2 2026 portfolios 14
Slide 15: EBIT headwind offset by cost actions
Volvo Car Group Results Presentation Q2 2026 EBIT headwind offset by cost actions EBIT bridge Q2, in billion SEK 2.9 (3.1%) 3.1 12.9 0.8 2.0 -1.5 -0.2 (1.1%) -1.1 -0.4 -1.1 -2.9 -10.0 (-10.6%) EBIT Items EBIT Volume Sales mix Variable cost¹ Indirect spend² Capitalised D&A Foreign Other EBIT Q2 2025
Slide 16: Additional cost and cash action already reached in H1
Volvo Car Group Results Presentation Q2 2026 Additional cost and cash action already reached in H1 EBIT bridge YTD, in billion SEK 4.5 4.9 12.9 (2.7%) 0.1 2.4 -2.5 -1.0 3.8 -0.9 (1.6%) -1.7 -4.8 YTD saving higher than SEK 5 bn challenge -8.0 (-4.5%) EBIT Items EBIT Volume Sales mix Variable cost¹ In
Slide 17: Cash flow impacted by planned inventory build-up
Volvo Car Group Results Presentation Q2 2026 Cash flow impacted by planned inventory build-up Cash flow bridge, in billion SEK Cash flow from operating and Undrawn credit facilities 69.9 investing activities -5.2 bn SEK Cash 63.6 23.5 7.1 3.3 22.2 0.3 -8.3 -7.3 46.4 41.4 Liquidity EBITDA Investments
Slide 18: Looking ahead – Expected recovery in H2
Volvo Car Group Results Presentation Q2 2026 Looking ahead – 01 Significantly stronger sales in H2 vs H1 expected 04 Continued focus on cost reduction and indirect spend Expected reduction beyond plan recovery in H2 02 H2 growth to be led by Europe; US to continue recovery; China is challenging 05 S
Slide 19: Disclaimer
Disclaimer • By accessing this document, the person to whom it is reliance on this document and any such liability is provided (the “Recipient”) agrees to be bound by the expressly disclaimed. Analyses and opinions contained following obligations and limitations. herein may be based on assumptions t
Slide 20: Modest net cash and prudent maturity profile
Modest net cash and prudent maturity profile 63.6 Maturity profile and debt composition (BN SEK) 22.2 Net cash 10.1 Total debt 1% 31.3 28% debt composition 41.4 71% 6.6 6.8 7.8 6.0 0.1 5.5 0.5 5.5 5.5 0.9 0.9 0.9 0.6 Loans 0.2 5.5 0.4 2.3 0.3 0.3 1.1 1.3 Green bond Liquidity 2026 2027 2028 2029 2030