Increased sales and operating income

In the third quarter of 2011, net sales increased by 18% to SEK 14,958 M (12,710). Adjusted for currency movements, net sales increased by 27%. Sales were positively impacted by higher volumes due to a good momentum in many markets.

Operating income increased by 6% to SEK 1,403 M (1,330) and operating margin was 9.4% (10.5). Compared to the third quarter of 2010, operating income was negatively impacted by changes in currency exchange rates in an amount of SEK 400 M. In the third quarter of 2010, operating income included a positive impact of SEK 107 M from the divestment of Volvo Construction Equipment’s Turkish distribution network.

The value of the order book at September 30 was 30% higher than a year earlier.