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Volvo – Three months ended March 31, 2004

 

 

 

 

 

 

 

 

    First three months

 

 

 

2004

2003

 

 

 

 

 

Net sales, SEK M

 

 

45,489

40,931

Operating income, SEK M*

 

 

2,219

909

Revaluation of shares in Scania AB

 

 

697

                    -

Operating income, SEK M

 

 

2,916

909

Income after financial items, SEK M

 

 

2,876

757

Net income, SEK M

 

 

2,248

506

Income per share, SEK*

 

 

3.70

1.20

Income per share, SEK

 

 

5.40

1.20

Return on shareholders' equity during most recent 12 months period, %

2.7

3.3

* Excluding revaluation of shares in Scania AB.

 

 

 

 

  • Net sales for the first quarter 2004 increased to SEK 45,489 M (40,931), reflecting strong organic growth
  • Net income increased to SEK 2,248 M (506) in the quarter
  • Income per share for the first three months was SEK 5.40 (1.20). Income per share for the most recent 12 -month period amounted to SEK 4.90
  • The Scania B shares sold to Deutsche Bank. The Annual General Meeting resolved to distribute the Scania A shares in the form of Ainax shares to the shareholders’ of AB Volvo. In total SEK 14.0 billion to be transferred to the shareholders
  • The Volvo Group expands in China. Agreement on engine manufacturing in place and truck plant opened
  • Cash flow after net investments excluding Financial Services improved to SEK 14.7 billion (negative: 2.2). The divestment of shares in Scania contributed SEK 14.9 billion.

For further information contact:
 
Investor Relations: Fredrik Brunell  +46 31 66 11 91
Christer Johansson +46 31 66 13 34
Patrik Stenberg +46 31 66 13 36
John Hartwell +1 212 418 7432

 

 

 

 

 

 

 

 

    First three months

 

 

 

2004

2003

 

 

 

 

 

Net sales, SEK M

 

 

45,489

40,931

Operating income, SEK M*

 

 

2,219

909

Revaluation of shares in Scania AB

 

 

697

                    -

Operating income, SEK M

 

 

2,916

909

Income after financial items, SEK M

 

 

2,876

757

Net income, SEK M

 

 

2,248

506

Income per share, SEK*

 

 

3.70

1.20

Income per share, SEK

 

 

5.40

1.20

Return on shareholders' equity during most recent 12 months period, %

2.7

3.3

* Excluding revaluation of shares in Scania AB.

 

 

 

 

  • Net sales for the first quarter 2004 increased to SEK 45,489 M (40,931), reflecting strong organic growth
  • Net income increased to SEK 2,248 M (506) in the quarter
  • Income per share for the first three months was SEK 5.40 (1.20). Income per share for the most recent 12 -month period amounted to SEK 4.90
  • The Scania B shares sold to Deutsche Bank. The Annual General Meeting resolved to distribute the Scania A shares in the form of Ainax shares to the shareholders’ of AB Volvo. In total SEK 14.0 billion to be transferred to the shareholders
  • The Volvo Group expands in China. Agreement on engine manufacturing in place and truck plant opened
  • Cash flow after net investments excluding Financial Services improved to SEK 14.7 billion (negative: 2.2). The divestment of shares in Scania contributed SEK 14.9 billion.

For further information contact:
 
Investor Relations: Fredrik Brunell  +46 31 66 11 91
Christer Johansson +46 31 66 13 34
Patrik Stenberg +46 31 66 13 36
John Hartwell +1 212 418 7432

 

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