Welcome to our dedicated page for Volvo Ab news (Ticker: VLVLY), a resource for investors and traders seeking the latest updates and insights on Volvo Ab stock.
The VOLVO AB UNSP/ADR (VLVLY) news page on Stock Titan aggregates company-related updates drawn from AB Volvo (Volvo Group) announcements and disclosures. Volvo Group describes itself as driving prosperity through transport and infrastructure solutions, with offerings that include trucks, buses, construction equipment, power solutions for marine and industrial applications, and financing and services that support customer uptime and productivity. These activities generate a steady flow of news across financial, operational, technological and sustainability topics.
Investors and followers of VLVLY can expect news on Volvo Group’s financial reporting, such as quarterly reports and the publication of its annual report. In these releases, the company comments on net sales, the balance between vehicle and service sales, operating income, and market conditions in regions like Europe and North America. Governance and shareholder-related news, including Annual General Meeting decisions on dividends, Board elections and auditor appointments, also feature prominently.
Beyond financial and governance updates, Volvo Group news highlights industrial and strategic developments. Examples include EU Innovation Fund support for the CarbonSmart Factory project at the Skövde engine plant, which targets substantial CO₂ emission reductions in manufacturing, and acquisitions within Volvo Construction Equipment’s retail operations in key European markets. The Group also reports on autonomous transport initiatives through Volvo Autonomous Solutions and safety-related achievements such as the Euro NCAP rating for Renault Trucks T, part of Volvo Group.
By following the VLVLY news feed, users can monitor how Volvo Group communicates about its heavy-duty truck manufacturing activities, broader transport and infrastructure solutions, sustainability projects, autonomous transport efforts and governance decisions. This page offers a centralized view of company-issued information relevant to investors, analysts and observers of the Volvo Group.
AB Volvo held an Extraordinary General Meeting on June 29, 2021, where it was resolved to distribute an extra SEK 9.50 per share to shareholders. The record date for the distribution was set for July 1, 2021. This decision reflects the company's commitment to returning value to its investors. The complete resolutions from the meeting will be available for review. The Volvo Group continues to focus on delivering sustainable transport and infrastructure solutions, with net sales of approximately SEK 338 billion in 2020.
Volvo Group's climate targets have been validated by the Science Based Targets initiative (SBTi) to align with the Paris Climate Agreement, aiming for a maximum temperature rise of 1.5°C. CEO Martin Lundstedt stated that the company leads industry standards with an ambitious emission reduction goal of 40% per vehicle km for trucks and buses by 2030. Additionally, Volvo commits to net-zero value chain emissions by 2040, ahead of the SBTi's deadline. The company covers 95% of sold products in its targets, exceeding SBTi requirements.
On June 3, 2021, AB Volvo announced its Extraordinary General Meeting to be held on June 29, 2021, conducted solely through advance voting due to COVID-19 restrictions. Shareholders must be registered by June 18, 2021, and must cast votes by June 28, 2021. The meeting agenda includes the election of a chairman, approval of minutes, and a proposed extraordinary dividend of SEK 9.50 per share, with distribution set for July 6, 2021. Further details are accessible on Volvo's website.
Volvo Penta has announced the acquisition of ZEM, a marine battery systems supplier based in Norway, to enhance its position in marine electromobility. ZEM, with over 12 years of experience, has developed battery solutions for various maritime applications. This acquisition aligns with Volvo's sustainability goals and aims to leverage ZEM's expertise to accelerate product development in electric and hybrid marine solutions. Though ZEM will continue to operate independently, this collaboration is expected to expand Volvo Penta's capabilities in a rapidly evolving market.
AB Volvo's Board of Directors has proposed a distribution of proceeds from the sale of UD Trucks, amounting to SEK 9.50 per share, which totals approximately SEK 19 billion. An Extraordinary General Meeting is scheduled for June 29, 2021, to vote on this proposal, with the record date for distribution set for July 1, 2021. The Board emphasizes that even after the distribution, the company remains financially robust, allowing for continued investments in future technologies aimed at sustainable transport solutions.
On April 29, 2021, Daimler Truck AG and Volvo Group launched their joint venture, cellcentric, aiming to become a leading manufacturer of hydrogen fuel-cell systems for long-haul trucks. This venture signifies a commitment to sustainable transport, with plans to begin production in 2025. The partnership advocates for a comprehensive EU hydrogen policy to accelerate technology adoption and proposes establishing 300 hydrogen refueling stations by 2025 and 1,000 by 2030 in Europe. The initiative is part of broader efforts to achieve CO2 neutrality by 2050.
Volvo Group has acquired a 60% stake in Designwerk Technologies AG, a Swiss engineering firm specializing in electromobility products. This strategic investment enhances Volvo's niche offerings within the electromobility ecosystem. Designwerk's expertise in low-volume production of electric trucks, mobile chargers, and high-voltage battery systems aligns with Volvo's aim for climate-neutral transportation solutions. The deal, expected to close shortly, will not significantly impact Volvo's earnings or financial position.
In Q1 2021, Volvo Group reported a net sales increase of 3% to SEK 94.0 billion, with a significant adjusted operating income of SEK 11.8 billion and an operating margin of 12.6%. Adjusted sales, accounting for currency effects, rose by 13%. The company faced a SEK 1.1 billion impact from currency fluctuations but achieved earnings per share of SEK 4.35. Notable developments include a joint venture with Daimler for fuel cells and the completion of the UD Trucks transaction with Isuzu. However, production is hampered by semiconductor shortages.
On April 20, 2021, Volvo Trucks announced the sales start of three new heavy-duty all-electric trucks, enhancing its electrification strategy for heavy road transport. The Volvo FH, FM, and FMX models will address the growing demand from transport companies aiming for sustainability. With the potential to electrify 45% of EU goods transport, Volvo aims for electric trucks to comprise half of its European sales by 2030. The company also plans future hydrogen fuel cell trucks for long-distance transport, marking a significant step towards cleaner logistics.
The Volvo Group has announced a Capital Markets Day scheduled for November 11, 2021. This event will showcase the company's strategic direction focused on performance improvement and transformation towards sustainable solutions, including battery and fuel cell vehicles. The event details, such as whether it will be virtual or in-person, will be communicated in advance. Volvo Group, headquartered in Gothenburg, Sweden, generated net sales of approximately SEK 338 billion in 2020 and employs nearly 100,000 people worldwide.
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