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Manufacturers of heavy-duty trucks have struggled with a global shortage of crucial components such as semiconductors, broader supply chain issues and strained freight capacity as a result of the COVID-19 pandemic and Russia’s war on Ukraine.
Adjusted operating profit at Volvo, a rival of German brands such as Daimler (OTC:DDAIF) Trucks, rose to 12.2 billion Swedish crowns ($1.19 billion) from 10.1 billion crowns a year earlier and an average forecast of 12.5 billion crowns from analysts in a Refinitiv poll.
Chief Executive Martin Lundstedt said the business continued to be affected by a volatile supply chain for components as well as its supplier base being under financial pressure from high energy prices and input costs.
“We will therefore continue to have disturbances, stoppages and extra costs in the production of trucks and in other parts of the group,” his statement said.
The world’s second-biggest truck manufacturer proposed an ordinary annual dividend of 7.00 crowns per share and a extra dividend of the same amount.
($1 = 10.1895 Swedish crowns)
