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Volvo Group – report on operations 2008

The Volvo Group has been successful in its efforts to reduce its inventory. During the fourth quarter, the new truck inventory decreased by 13% and the inventory with new construction vehicles decreased by 19%, which contributed to reducing capital tied-up in inventory by approximately SEK 6 billion.

• In the fourth quarter net sales decreased by 9% to SEK 77 billion (85)
For the full year net sales increased by 6% to SEK 304 billion (285)

• The fourth quarter operating loss amounted to SEK 999 M (Income: 5,775)
For the full year operating income amounted to SEK 15,851 M (22,231)

• In the fourth quarter basic and diluted earnings per share amounted to a negative SEK 0.67 (Positive 2.00). Full-year earnings per share amounted to SEK 4.90 (7.37)

• In the fourth quarter working capital in the Industrial Operations was reduced by SEK 5.1 billion contributing to a positive operating cash flow of SEK 1.8 billion

• The Board of Directors proposes an ordinary dividend of SEK 2.00 per share

Find the full report under Interim reports

February 6, 2009

Contacts Investor Relations:
Christer Johansson, +46 31 66 13 34
Patrik Stenberg, +46 31 66 13 36
Anders Christensson, +46 31 66 11 91
John Hartwell, +1 212 418 7432