Volvofinans Bank, half-owned by Volvo dealers and the other half by Volvo Cars, reported higher revenues and increased profits in the fourth quarter compared to the same period last year.
Total revenues amounted to 2,090 million kronor (1,889).
Operating profit before credit losses reached 247.1 million kronor (172.8).
Credit losses totaled 1.2 million kronor. Last year, credit losses were 5.7 million kronor.
Operating profit was 245.9 million kronor (167.2).
Net profit stood at 194.5 million kronor (-633.2).
"Looking ahead, we are optimistic about 2026. The Swedish economy is expected to pick up, even though geopolitical developments could reshape the macroeconomic outlook, both for Sweden and globally. Swedish households are driving growth as inflation falls and purchasing power strengthens. This creates favorable conditions for a growing market and a continued strong position for Ziklo Bank," said CEO Joel Graffman in a statement.
Volvo Car AB is a Sweden-based automotive brand. Volvo Car Group is focused on the design, engineering, manufacturing, distribution and sale of passenger cars, with particular focus on sustainability, fully electric cars and direct consumer relations, including subscription and other new mobility services. Volvo Car Group’s addressable market is the global premium passenger car market. Moreover, the Company’s intention is to be a pure electric car company and as a result it is undergoing a shift in its business model to a direct sales model in most of its markets. Volvo Cars’ commitment to electrification also results in the launch of Polestar, a progressive stand-alone electric performance car brand, in which Volvo Cars owns shares. Volvo Cars also holds shares in the automotive brand LYNK&CO, which focuses on young open-minded urban people through a flexible customer offering.
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