AB Volvo (VOLV_A) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to the Volvo Group second quarter press conference. Today we do as we always do. We listen to our president and CEO, Martin Lundstedt, and then follow up with Matt Sparkman, our CFO, and then finalize with the Q&A. With that, I leave it over to you, Martin. Thank you very much for that, Johan, and also welcome from my side. Even if it was a short introduction, I have to say it's always a little bit emotional to see our fantastic products in action. So second quarter 2026, and I would like to start by saying that the group and in reality, of course, all colleagues and business partners delivered very strong and solid results in the quarter with Just an operating income of 14.8 billion and a margin that expanded to 11.7%, demonstrating strong earnings resilience and growth despite the many moving parameters such as continuous geopolitical turmoil, tariffs as well as higher freight and material costs. Performance was good across business areas with high customer confidence in our products and services reflected in a strong order intake and low cancellations throughout the quarter. The group also launched several new business offerings as well as portfolio moves to further improve our competitive set. And I will get back to that during the course of this presentation. Quarterly order intake developed also positively with an increase year over year of 33% for group trucks as one example. And when it comes to the market forecast for the full year, we are for trucks continuing to revise slightly upwards Europe. while reiterating the forecast for North America, given that the first half year was relatively weak when it comes to deliveries into the market in North America and a catch-up will be needed there. But order intake has been strong as you hav...