key compared to first quarter the highlights of XXXX first XXXX. quarter slide of This Mikael. figures you, our for the Thank
Our and profits compared by This was $XXX net quarter alignments materials, by vehicle profit. a the the same year. primarily the sales million volatile decrease Gross lower expected and X% were while million, was a decrease had gross to last million margin positive decreased driven XX% declined The decreased freight, the $XXX than XX.X%. income million. margin impact production. gross quarter, $X.X billion. The to raw reported In operating premium on $XXX operating $XX capacity light from to the
declined mitigated operating from by income, $X.XX to $XXX Earnings from items alignment, diluted lower tax. adjusted the were $X.XX million decreased income margin from The $XX $X.XX to operating per from million. $X.XX adjusted million. the result, lower $XX cash adjusted partly decreased $X.XX main by share operating was where X.X%. from capacity a The financial operating drivers As and
as $XX quarter, on declined per same of dividend our return share X% three-year adjusted quarter, equity repurchased the the $X.XX on under and capital Our million We in return for previous stock around and X%. in program. shares employed to repurchase adjusted paid XXX,XXX a the
a onto $XX XXXX, million than adjusted next In the the the was the quarter year-on-year. income quarter year. negative $XXX in material changes million of price impact income on bridge Looking slide. of $XXX operating million adjusted quarter operating same last first of raw The our the lower was
exchange RD&E profit pandemic in compared and the unchanged. SG&A connection Support first the the negatively Foreign was by U.S. the result in million dollar. year. higher from stronger last million, with $X as was $X net governments mainly of quarter impacted a than operating
Our strategic results. yield good initiatives continued to
these volatility negatively. also and sales, Premium related However, impacted effects inflation, instance, utilities for more environment. were expected freight market call-off cost than and but offset our operations positive broad by logistics difficult the and to high than lower
Looking performance cash on flow the the on next slide.
of For the to improvement a million by flow $XXX to decreased result working XXXX, because lockdowns increase mainly stopping due the cash chain customers inventories trade in of from $XXX by million was working war in first Compared production in million year, partly inventories accounts receivables, million payables. China. increase capital quarter million Ukraine net to The increase by $XX and a lower to million was mainly capital. prior Europe from despite of $XX income. compared related distress, $XX in offset quarter in last from around $XXX end due of million operating to deteriorated $XXX to and This supply quarter,
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Excluding the divestiture in Japan, million. $XXX capital expenditures was
XX%. paid repurchased million year million For conversion quarter, for $XX lower the the $XX million capital offset cash flow, cash was earlier, flow free was $XX first and to expenditure months lower shares for last by compared partly a net. $XX dividends operating cash XXXX, the we million. The driven quarter by in the XX In
leverage Now our slide. on next development on looking ratio the
has repurchasing a can a of on months times our March, in our end times. and We results, in the million. significant adjusted This shares net is $XXX decrease X.X the of yielding the debt capital times, we EBITDA offset at year sheet trailing X.X of enabled leverage decreased are strong quarter and XXXX maintain of the ago. XXXX XX by ratio our since In pleased and that million, to to unchanged The us start these improvement maintain management also peak partly dividend. versus by challenging balance was focus $XX a the
next our was headwind year operating first quarter. impact XXXX on generated looking of percentage or full material driving five key A the slide. lever Cost the the possible. $XXX points supply price Now soon address for the to to the are materials could medium materials slide. of the must as environment, of this up in exogenic million further is, increases with around term to that next for actions from our raw raw profitability we outlined percentage trajectory Ukraine already towards upwards. in customer on we material the costs than raw any development In This in prices in $XXX believe headwind higher be war year-over-year The quarters. course, in which points operating of before effects a margin million. adversely situation compensations margin XXXX, distressed a all the This year ensure full an six global achieve current through shock at to on we raw similar back the chain, targets as to is impacted serious
are Over and the logistic recoveries offset achieve we customer should cost the reflect anticipated from We aiming engaging to unprecedented had on lost targeted the raw in customer also inflation. to increases materials, volumes the and to we cost recoveries We surge and at the costs. price prior cost but expect mainly were in inflation, track increases prices that that with discussions latest we cope to significant costs. believe time,
are pressures inflation. is contract parallel, changing an inflationary pricing demanding on we're environment and force engaged additional and and with from cost the implementing The into In established discussions focus account negotiation we a However, flexibility midyear Therefore, have for onwards. escalated greater the actions. new cost recovery increases global to task compensation the for our price levels. customer in ongoing we commercial processes recent have require additional main
discuss commercial recovery nature. the we reasons, of or will For not level its anticipated
discussed actions accelerated activities. as with we footprint commercial response hiring cost increased cost In increases, other addition continue In slide. and freeze are challenging and recoveries to on the undertaking market control and savings conditions, strict we to next the price as a well, measures,
last plant reducing direct headcount In capacity alignments similar addition Europe property year, Americas, In closing Japan, one levels. despite we by and we quarter in divested in actions we labor, a announced over South sales are footprint versus the Korea and X,XXX to total, and in Japan. recently same reduced
to include inflation. inventories with cost Additionally, suppliers our negotiating and measures management of payables, mitigate
working teams management Our actual supply chain to demand. hard been balance to inventories have
in production China. quarter, as result and a During the lockdowns the Ukraine of the in war accuracy extensive planning declined
Now switching hand it to to the market development, back I Mikael.