Volvo Group Reports Positive Q2

Publish date:

Volvo Group reported net sales of SEK90.6 billion in the second quarter, about $10.4 billion, an increase of 24 percent compared with the same quarter a year prior, when net sales were down 38 percent due to the Covid-19 pandemic.

“Demand for the Volvo Group’s products and services continued to be good. In a quarter when shortages of semiconductors as well as other production materials resulted in substantial production stoppages affecting both volumes and costs negatively, we achieved an adjusted operating margin of 10.7 percent,” CEO Martin Lundstedt said in a statement.


Lundstedt said Volvo Group “delivered solid performance while managing supply-chain challenges” that linger. He added that the company will continue to transition to sustainable solutions and that the “electrification of our transport and infrastructure industries are key components in the transition to a more sustainable society.”

Volvo Penta had a strong second quarter, posting net sales of SEK3.9 billion ($448 million), an increase of 58 percent. Broken down by division, sales of engines were up 82 percent, and related services saw a 45 percent increase.

The company said that its yacht and commercial segments appear to have fully recovered. For the quarter, orders increased by 102 percent to 12,857 units, and deliveries were up 68 percent to 11,674 units.


The group acquired Norwegian e-battery and e-driveline supplier ZEM during the quarter as part of the company’s plans to “expand and accelerate” its capabilities in marine electromobility.

In addition, its Assisted Docking system is available to boatbuilders for OEM installations. Last month, Italy-based Absolute Yachts said it was the first builder to offer Assisted Docking across its entire model range.


A Record Q2 for Brunswick

With strong global demand in all its business segments, Brunswick Corp. reported another stellar quarter, posting a 57 percent jump in net sales.

OneWater Adds PartsVu

The online marketplace for marine parts, accessories and electronics posted $25 million in sales over the last year.

Groupe Beneteau Updates Revenue Forecasts, More

The builder saw gains in its boat and luxury-home sectors and made several acquisitions, including a majority stake in Dream Yacht Group.

Golden Manufacturing Expands

The fabricator of aluminum boat lifts and aluminum and concrete floating docks adds 18,000 square feet to its Fort Myers, Fla., headquarters.

GetMyBoat Takes You to the Movies

The boat rental marketplace site teams with Disney’s Jungle Cruise for a contest to win a boat trip or movie tickets.

ConMar Adds to Sales Team

The manufacturers’ representatives add industry vet Brain Steele.

Will Canada Reopen to Boaters?

Set to open its borders to fully vaccinated U.S. residents next month, our neighbor to the north could be facing a strike by Canadian border guards and customs officials. Plus, the Great Lakes welcomes a newly designated marine sanctuary.