NEW YORK, March 7 (Reuters) - World No.2 truck maker Volvo on Friday repeated its goal of raising its operating margin by 3 percentage points by the end of 2015 through a programme of cost cuts, material from a presentation by the company.
In a slide headed “Deliver Profitability Improvement,” Volvo said its programme would have an “impact on operating margin of 3 percentage points by end of 2015, representing an improvement of SEK 9 billion based on 12 month rolling revenues of SEK 300 billion.”
Gothenburg-based Volvo set a target in 2012 to raise its operating margin by 3 percentage points by the end of 2015.
In the previous year, the company had an operating margin of 8.7 percent. In 2013, the operating margin was 2.9 percent.
Reporting by Lewis Krauskopf; Editing by Alistair Scrutton