From the depths of a pandemic-impacted second quarter, Sweden’s Volvo Group (OTC: VLVLY) finished 2020 with lower sales but a strong profit margin. New truck orders surged between the third and fourth quarters.
“We demonstrated that we have significantly improved our volume and cost flexibility, which were crucial factors behind our earnings resilience in 2020,” President and CEO Martin Lundstedt said.
Volvo revenues fell 22% — almost SEK 100 billion ($11.8 billion) — compared to a year earlier....
https://www.freightwaves.com/news/volvo-group-reports-lower-2020-sales-but-strong-profit-margins