The Volvo Group announced its financial results for the first fiscal quarter of 2026.
The group reported that net sales decreased 9% to SEK$110.8 billion ($11.9 billion) from SEK$121.8 ($13.1 billion) in the year-ago quarter. Adjusted operating income amounted to SEK$12.2 billion ($1.3 billion), down from SEK$13.3 billion ($1.4 billion) year-over-year.
Volvo Penta net sales totaled SEK$5.3 billion ($571.2 million) during the quarter, an increase of 5% from the prior-year period. Adjusted operating income grew 14% to SEK$1.04 billion ($112.1 million), and adjusted operating margin increased 1.5% year-over-year.
The company said order intake improved in the marine segment, supported by continued recovery in consumer sentiment. Demand in the yacht segment remained strong, while a slower start in North America led to somewhat lower order intake in the marine commercial segment.
“Volvo Penta had a good performance in both the industrial and marine segments, with organic sales growth of 13%,” Volvo Group president and CEO Martin Lundstedt said in the statement. “Volvo Penta has expanded its power generation offering for mission-critical applications, such as data centers. Both engine volumes and service sales were strong.”
Looking forward, the group cited performance risks related to “international tension and conflicts, including ongoing conflicts in the Middle East, as well as recent developments in global trade policies [also increasing] the risk of a broader economic slowdown.”
