Adjusted operating profit fell to SEK 12.2 billion, compared to SEK 13.3 billion a year earlier.
It was still higher than analysts' expectations.
Revenues decreased but order intake rose 14 percent.
We have strong order intake, not least in North America.
This will provide a better balance between sales and production going forward, according to Lundstedt, who sees opportunities for more employees in Sweden, where Volvo has by far the largest production globally.
The war in Iran and the skyrocketing energy prices have not yet had any consequences for the business, according to Lundstedt.
We haven't seen anything like this in terms of order intake or activity level.
When asked whether the energy crisis and geopolitical unrest could accelerate the somewhat sluggish pace of the transition towards more fossil-free transportation, he says:
I absolutely believe that this will lead to a desire for a more diverse mix of energy solutions.
