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>> REPORT ON THE SECOND QUARTER 2021 ^ In Q2 2021 , net sales increased by 24 % to SEK 90.6 billion ( 73.2 ) . Adjusted for currency movements and the divestment of UD Trucks , net sales increased by 43 % . >> Adjusted operating income² amounted to SEK 9,730 M ( 3,272 ) , corresponding to an adjusted operating margin of 10.7 % ( 4.5 ) . >> Reported operating income amounted to SEK 11,384 M ( 388 ) . VOLVO SEK M unless otherwise stated Net sales Net sales excluding UD Trucks ¹ Adjusted operating income 2 Adjusted operating margin , % VOLVO GROUP Currency movements had a negative impact on operating income of SEK 1,532 M. Earnings per share amounted to SEK 4.38 ( -0.14 ) . Operating income Operating margin , % Income after financial items Income for the period . Earnings per share , SEK Operating cash flow in Industrial Operations Net financial position in Industrial Operations , SEK bn 3 Return on capital employed in Industrial Operations , % 4 Return on equity , % 4 Net order intake , number of trucks Net order intake excluding UD Trucks ¹ Deliveries , number of trucks Deliveries excluding UD Trucks ¹ Net order intake , number of construction equipment Deliveries , number of construction equipment 1 For more information , please see Appendix UD Trucks . 2 For information on adjusted operating income , please see note 7 . 3 Excluding post - employment benefits and lease liabilities . 4 12 months rolling . The new Renault Trucks T for long - haul applications . Operating cash flow in the Industrial Operations amounted to SEK 5,932 M ( -5,718 ) . On April 1 , 2021 , the Volvo Group divested UD Trucks . To facilitate the comparability of the Group's financial performance between the periods , certain items of interest are presented excluding UD Trucks.¹ The proceeds from the divestment of UD Trucks , SEK 19 billion , were distributed to the shareholders in July . Volvo Group , Daimler Truck and the Traton Group signed a non - binding agreement to install and operate a high - performance public charging network across Europe . Second quarter 2021 2020 90,561 73,227 90,561 67,930 9,730 3,272 10.7 4.5 11,384 12.6 11,265 9,064 4.38 5,932 388 0.5 -90 44 -0.14 -5,718 57,961 26,507 57,961 23,861 45,670 28,033 45,670 24,849 36,120 26,706 30,657 29,084 First six months 2021 2020 184,579 164,676 179,142 153,798 21,551 11.7 10,412 6.3 23,451 12.7 23,555 18,068 8.72 11,596 67.3 23.4 22.6 7,762 4.7 71,736 61,614 6,400 4,810 2.16 -9,835 50.6 15.3 13.6 143,422 64,906 138,405 57,929 98,114 72,798 94 , 120 66,205 47,320 49,254