Volvo Group - Six months ended June 30, 2008

Volvo Group - Six months ended June 30, 2008

In the second quarter:

• Net sales increased 13% to SEK 80.4 billion (71.4) in the second quarter
• Operating income rose 17% to SEK 7,186 M (6,119)
• Basic and diluted earnings per share rose by 28% to SEK 2.53 (1.98)
• Operating cash flow in Industrial operations amounted to SEK 4.9 billion (6.1)


Volvo Group                                                   
                  Second quarter              First six months
                    2008        2007        2008        2007   Change, %
Net sales
Volvo Group,
SEK M             80,426      71,446     157,109     132,482          19

Operating
income Volvo
Group, SEK M       7,186       6,119      13,673      11,447          19

Operating
income
Industrial
operations,
SEK M              6,799       5,698      12,905      10,631          21

Operating
income
Customer
Finance, SEK M
                    387         421         768         816         (6)

Operating
margin Volvo
Group, %             8.9         8.6         8.7         8.6           1

Income after
financial
items, SEK M       7,481       5,970      13,622      11,377          20

Income for
the period,
SEK M              5,149       4,030       9,364       7,786          20

Diluted
earnings per
share, SEK          2.53        1.98        4.60        3.83  

Return on
shareholders'
equity, %                                   20.5        17.9


Contacts Investor Relations:
Christer Johansson      +46 31 66 13 34
Patrik Stenberg	      +46 31 66 13 36
Anders Christensson     +46 31 66 11 91
John Hartwell 	      +1 212 418 7432

www.volvogroup.com