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>> REPORT ON THE THIRD QUARTER 2021 D RESERVED PARKING ELECTRIC VEHICLES ONLY In Q3 2021 , net sales increased by 11 % to SEK 85.3 billion ( 76.9 ) . Adjusted for currency movements and the divestment of UD Trucks , net sales increased by 20 % . Adjusted operating income² amounted to SEK 9,403 M ( 7,217 ) , corresponding to an adjusted operating margin of 11.0 % ( 9.4 ) . Reported operating income amounted to SEK 9,403 M ( 7,508 ) . SEK M unless otherwise stated Net sales Net sales excluding UD Trucks ¹ Adjusted operating income 2 Adjusted operating margin , % Operating income Operating margin , % A Volvo VNR Electric charging at Manhattan Beer Distributors ' warehouse in The Bronx , New York , USA . 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 , % ¹ Return on equity , % 4 VOLVO GROUP Net order intake , number of trucks Net order intake excluding UD Trucks ¹ L 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 . T730 >>> VNR ☎ Currency movements had a positive impact on operating income of SEK 126 M. Earnings per share amounted to SEK 3.47 ( 2.81 ) . Operating cash flow in the Industrial Operations amounted to SEK -5,735 M ( 11,712 ) . Return on capital employed in the Industrial Operations amounted to 25.6 % ( 13.2 ) . Third quarter 2021 85,258 85,258 9,403 11.0 51,118 51,118 43,984 43,984 VOLVO 2020 7,508 9,403 11.0 9.8 9,433 7,640 7,109 5,903 3.47 2.81 -5,735 11,712 20,738 18,085 76,852 71,548 7,217 9.4 57,530 53,097 37,709 33,868 20,848 19,774 First nine months 2021 2020 269,838 241,528 264,400 225,346 30,955 17,629 11.5 7.3 32,854 15,270 12.2 6.3 32,988 14,040 25,177 10,714 12.19 4.97 5,861 1,877 42.5 62.3 25.6 13.2 24.0 12.2 194,540 122,436 189,523 111,026 142,098 110,507 138,104 100,073 92,474 68,168 79,699 69,028