Volvo Group posted solid Q1 sales and operating income despite ongoing supply chain interruptions and taking a $423 million charge for suspending its business in Russia.
The Gothenborg, Sweden-based truck, bus and construction equipment maker reported a 12% improvement in net sales to SEK 105.3 billion Swedish Krona ($11.1 billion). Adjusted operating income was SEK 12.7 billion ($1.34 billion). Adjusted operating margin was 12%.
Operating cash flow was negative SEK 5.4 billion because of...