×

Volvo – Definitive report on 2003 operations

This definitive report on Operations 2003 has been updated to reflect changes in Volvo’s holding in Scania and the effects from a revaluation of the holding in Henlys Group Plc.

 

2003

2002

2003

2002

 

 

 

 

 

Net sales, SEK M

48 733

45 877

174 768

177 080

Operating income*, SEK M

1 766

823

6 534

2 837

Write-down of shares**, SEK M

(4 030)

-

(4 030)

-

Operating income (loss), SEK M

(2 264)

823

2 504

2 837

Income (loss) after financial items, SEK M

(2 441)

737

1 657

2 013

Net income (loss), SEK M

(2 886)

638

298

1 393

Sales growth, %

6.2

(5.7)

(1.3)

(2.0)

Income per share*, SEK

2.70

1.50

10.30

3.30

Income (loss) per share, SEK

(6.90)

1.50

0.70

3.30

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

0.4

1.7

  *) Excluding write-down of shares in Scania AB and Henlys Group Plc during the fourth quarter 2003.

**) Write-down of shares in Scania AB amounting to SEK 3,601 M and Henlys Group Plc amounting to SEK 429 M.

  • Net sales for the fourth quarter 2003 amounted to SEK 48,733 M (45,877).
  • Net loss amounted to SEK 2,886 M (income: 638) in the fourth quarter.
  • Income per share for the fourth quarter was a negative SEK 6.90 (income: 1.50). Income per share for the year amounted to SEK 0.70 (3.30).
  • Operating income for the fourth quarter included a write-down of shares in Scania AB and Henlys Group Plc amounting to SEK 3,601 M and SEK 429 M respectively.
  • Cash flow after net investments excluding Financial Services improved to SEK 7.8 billion (4.9) in the fourth quarter.
  • The Board of Directors proposes that a cash dividend of SEK 8.00 per share be paid for 2003. In addition it proposes that 99% of the shares in the wholly owned company, Ainax, be distributed to the shareholders of AB Volvo. The value of the Ainax shares corresponds to a value of SEK 14:40 per Volvo share based on the Scania A closing price of SEK 223:50 at March 12, 2004.

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

 

 

 

Download full report

English 

English 

Swedish 

Swedish