The company reported a rise to 6.96 billion kronor ($1.03 billion) in its fourth-quarter earnings before interest and taxes, compared to 5.52 billion kronor a year earlier. It also reported that its revenue went up 18 percent to 86.5 billion kronor and that  operating margin was 8 percent of sales. Volvo’s stock went up as much as 2.2 percent to 92.75 kronor. It was trading up 1.6 percent at 1:05 p.m. in Stockholm. There has been a gain of 22 percent in the stock this year and the company is being valued at 196.4 billion kronor.

 

Volvo does not plan to further reduce production or jobs after it scaled back manufacturing and did not extend contracts for hundreds of temporary workers in Sweden and in its Renault Trucks unit in France. The company said that it has the right balance between production and demand in U.S. and Europe currently.