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VOLVO VOLVO GROUP REPORT ON THE FIRST QUARTER 2021 RENAULT TRUCKS ZE ZE RENAULT ROSE 330 - HZ T Renault Trucks to extend its electric range and offer electric trucks for each market segment from 2023 . >>>> In Q1 2021 , net sales increased by 3 % to SEK 94.0 » Earnings per share amounted to SEK 4.35 ( 2.30 ) . billion ( 91.4 ) . Adjusted for currency movements , net sales increased by 13 % . » Operating cash flow in the Industrial Operations amounted to SEK 5,665 M ( -4,117 ) . » Adjusted operating income¹ amounted to SEK 11,821 M ( 7,140 ) , corresponding to an adjusted operating margin of 12.6 % ( 7.8 ) . >>>> Volvo Group and Daimler Truck AG completed creation of fuel - cell joint venture cellcentric . >>> >>> Reported operating income amounted to SEK 12,067 M ( 7,374 ) . On April 1 , Volvo Group and Isuzu Motors completed the UD Trucks transaction as part of the strategic alliance . >>> Currency movements had a negative impact on operating income of SEK 1,125 M. >>> Shortage of semiconductors impacting production . SEK M unless otherwise stated Net sales Adjusted operating income 1 Adjusted operating margin , % Operating income First quarter 2021 2020 94,018 91,449 11,821 12.6 7,140 7.8 12,067 7,374 Operating margin , % 12.8 8.1 Income after financial items 12,290 6,490 Income for the period 9,004 4,766 Earnings per share , SEK 4.35 2.30 Operating cash flow in Industrial Operations 5,665 -4,117 Net financial position in Industrial Operations , SEK bn 2 . 74.8 74.7 3 3 Return on capital employed in Industrial Operations , % ` Return on equity , % 17.1 23.9 16.4 22.0 Net order intake , number of trucks Deliveries , number of trucks Net order intake , number of construction equipment Deliveries , number of construction equipment 1 For information on adjusted operating income , please see note 7 . 2 Excluding post - employment benefits and lease liabilities . 3 12 months rolling . 35,616 20,614 30,957 20,170 85,461 38,399 52,444 44,765