Volvo Group last week reported that fourth-quarter net sales increased by 18 percent to SEK 86.5 billion (about U.S. $12.84 billion) from SEK 73.4 billion in the year-ago period. For the full-year 2011, net sales increased by 17 percent to SEK 310.4 billion (U.S. $46.07 billion) from SEK 264.7 billion for full-year 2010.

The fourth-quarter operating income amounted to SEK 6.96 billion (U.S. $1.03 billion), an increase from SEK 5.52 billion in the year-ago period. Compared to the fourth quarter of 2010 changes in exchange rates had a negative impact of SEK 425 million (U.S. $63.1 million). The full-year operating income was the highest to date and amounted to SEK 26.9 billion (U.S. $3.99 billion), a significant increase from SEK 18.0 billion for full-year 2010.

“If we review the full-year 2011, the Volvo Group generated the highest net sales, the best operating income and the highest operating margin to date,” said Olof Persson, president and CEO .

The board of directors of Volvo Group proposed a dividend of SEK 3.00 per share (U.S. $0.45), an improvement from SEK 2.50 per share a year ago.

Volvo Group is based in Stockholm, Sweden.