Volvo Says to Recognize SEK 4 Billion Provisions in Q1 Impacting Operating Income Because of Russia

Freitag, 08.04.2022 07:40 von PLX

• (PLX AI) – Volvo Financial impact on Volvo Group due to the war in Ukraine.
• • Volvo Group has total assets of approximately SEK 9 billion related to Russia
• • Volvo says SEK 6 billion is cash items that could be materialized over the coming years
• • Volvo says in first quarter 2022 assets amounting to approximately SEK 4 billion will be provided for and have a negative impact on operating income, primarily in Financial Services segment
• • Volvo says last year 3% of the Group’s net sales were attributable to Russia