Volvo Aero reports lower profitability during first quarter

Volvo Aero released that sales during the first quarter decreased by 14% to SEK 1,640 million compared to SEK 1,910 million in the prior year. Adjusted for currency fluctuations and the divestment of Volvo Aero Services, sales during the first quarter increased by 12%. Operating income decreased to SEK 28 million (prior year 152 million) mainly due to the weak US dollar. The result was also affected by manufacturing disturbances and supplier issues. Operating margin amounted to 1.7% (prior year 8.0%).