Volvo AB’s second-quarter operating profit rose, aided by a company program designed to lower operating costs.
Earnings before interest and taxes rose 9.2% to $521 million, Gothenburg, Sweden-based Volvo reported.
Second-quarter truck orders dropped 6% to 52,974 vehicles as deliveries rose 2.4% to 53,223, Volvo said. Orders for construction equipment declined 22%, and deliveries fell 18%. Net income climbed 23% to 2.47 billion kronor.
“With the closing of the second quarter, we are halfway in the strategy program that will continue until the end of 2015 and which shall increase the Volvo Group’s profitability. The program is progressing according to plan, and we are beginning to see positive effects from all the decisions we made in 2012 and 2013,” CEO Olof Persson said in a statement.