Volvo Group Capital Markets Day - Gearing up for growth

Rhea-AI Summary

Volvo Group held its Capital Markets Day at the Volvo Trucks Customer Center in Virginia, USA, where CEO Martin Lundstedt outlined the company's strategic direction. The Group aims to improve performance and strengthen earnings resilience while continuing investments in growth and transformation. Operating from a strong financial position, Volvo plans to increase market shares, particularly in North America, and expand its global service business. The company emphasizes its commitment to sustainable transport solutions across all technologies - internal combustion, battery-electric, and fuel cell-electric vehicles.

Positive

• Strong net financial position
• Leading market positions in multiple markets
• Growing service business with untapped potential
• Expansion opportunities in North America
• Diverse product portfolio across multiple transport technologies

Negative

• None.

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GOTHENBURG, Sweden, Nov. 14, 2024 /PRNewswire/ -- Today, November 14, 2024, the Volvo Group held its Capital Markets Day at the Volvo Trucks Customer Center in New River Valley, Virginia, USA. At the event, President and CEO Martin Lundstedt together with Group Management presented the strategic direction to improve the Group's performance and to strengthen earnings resilience across the business cycle while continuing to invest and accelerate growth through the transformation.

"We are focused on delivering on our strategic agenda – evolving our performance culture based on a decentralized organization with those closest to the customer empowered to make decisions and driving continuous improvement across the Group," says Martin Lundstedt.

The Volvo Group is maneuvering from a position of strength based on a strong net financial position, a broad customer base with long-standing relationships, leading market positions in many markets and a growing service business. Moving forward, there are substantial growth opportunities by increasing market shares, especially in North America, and by exploiting untapped potential in the service business globally. Furthermore, the transformation presents growth prospects for the Group through an increased value proposition to customers.

"By navigating the transformation with flexibility and maneuverability, we will ensure that we can adapt to shifts in the market and seize new opportunities. In this changing landscape, leveraging partnerships will accelerate our innovation efforts, and portfolio optimization and disciplined capital allocation will help to drive value creation and earnings resilience. The Volvo Group's strategy is clear – it is all about continuing to win today and tomorrow," says Martin Lundstedt.

The Volvo Group has its strongest product, services and solutions lineup ever and aims to transform the transport and infrastructure industries to a more sustainable future irrespective of technology – internal combustion engines, battery-electric vehicles or fuel cell-electric vehicles.

"Regardless of the speed of the transformation, the Volvo Group is geared up to deliver continued strong earnings and cashflow as a base for providing good total shareholder returns," says Martin Lundstedt.

The Capital Markets Day was webcast. A replay and the presentation material will be available at www.volvogroup.com.

November 14^th, 2024

Journalists wanting further information, please contact:
Claes Eliasson, Head of Media Relations
+46 76 553 7229
press@volvo.com

For more information, please visit volvogroup.com 
For frequent updates, follow us on X: @volvogroup

The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2023, net sales amounted to SEK 553 billion (EUR 48 billion). Volvo shares are listed on Nasdaq Stockholm.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ab-volvo/r/volvo-group-capital-markets-day---gearing-up-for-growth,c4066743

The following files are available for download:

https://mb.cision.com/Main/39/4066743/3115783.pdf	Volvo Group Capital Markets Day - Gearing up for growth
https://news.cision.com/ab-volvo/i/cmd-2-2024-1860x1050,c3352169	CMD 2 2024 1860x1050

FAQ

What are Volvo Group's (VLVLY) main growth strategies announced at the 2024 Capital Markets Day?

Volvo Group's growth strategies include increasing market shares in North America, expanding global service business, leveraging partnerships for innovation, and maintaining portfolio optimization with disciplined capital allocation.

How is Volvo Group (VLVLY) approaching the sustainable transport transformation?

Volvo Group is pursuing a technology-agnostic approach, developing solutions across internal combustion engines, battery-electric vehicles, and fuel cell-electric vehicles to transform transport and infrastructure industries sustainably.

What is Volvo Group's (VLVLY) current financial position as of November 2024?

According to the Capital Markets Day presentation, Volvo Group maintains a strong net financial position with established customer relationships and leading market positions in many markets.