On July 19, Volvo Car Group released its financial report for the second quarter and the first half of 2018. Volvo Car Group's operating profit in the second quarter reached 4.2 billion Swedish kronor, a year-on-year increase of 28.6%; the operating profit margin in the second quarter was 6.4%, higher than 6.3% in the same period last year. This is the best quarterly financial performance in the history of Volvo Car Group. In the first half of 2018, Volvo Car Group's operating profit reached 7.8 billion Swedish kronor, a year-on-year increase of 15.7%, also the best performance in the same period in history. The operating profit margin in the first half of the year was 6.4%. The company's total sales in the first half of the year reached 317,639 vehicles, a record high, a year-on-year increase of 14.4%. It is reported that relevant institutional investors valued Volvo at US$12 billion to US$18 billion, lower than Geely Auto's previous valuation of US$16 billion to US$30 billion. In May, Bloomberg reported that Geely Holding Group had selected Citigroup, Goldman Sachs and Morgan Stanley to help Volvo Cars with its IPO, which is expected to be launched as early as this fall. Geely Automobile previously said that Volvo's IPO would only be pushed forward if its valuation exceeded US$30 billion. The current valuation disagreement may cause Volvo to delay its IPO. Daimler trades at about 6.13 times earnings, while BMW trades at about 6 times, according to data compiled by Bloomberg. Volvo’s $12 billion valuation implies 7.5 times its 2017 operating earnings. Geely acquired Volvo Cars in 2010. After that, Volvo ushered in new development opportunities and regained its vitality. As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity. |
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