STOCKHOLM (Reuters) – Sweden-based Volvo Cars reported a fall in fourth-quarter operating profit on Thursday and said it anticipated a turbulent 2025 with challenging market conditions.
Operating profit at the company, which is majority-owned by China’s Geely, was 3.9 billion Swedish crowns ($357 million) against a year-earlier 5.4 billion. The profit includes a 1.7 billion crown writedown related to its battery joint venture Novo Energy.
Excluding joint ventures and associates, operating profit was 6.3 billion crowns, down from 6.7 billion.
($1 = 10.9245 Swedish crowns)
(Reporting by Marie Mannes, editing by Anna Ringstrom)
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