Volvo 1998 Annual Report Download - page 101

1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Net sales 96,639 90,972 83,185 77,223 83,002 111,155 155,866 171,511 156,060 183,625 212,936
Cost of sales (66,143) (85,840) (115,092) (128,529) (121,249) (138,990) (163,876)
Gross income 16,859 25,315 40,774 42,982 34,811 44,635 49,060
Research and
development expenses (6,243) (4,438) (4,652) (7,343) (8,271) (8,659) (10,104)
Selling expenses (89,548) (86,155) (82,618) (78,059) (8,717) (11,480) (15,737) (17,418) (14,895) (17,160) (19,042)
Administrative expenses (4,151) (6,131) (7,711) (7,399) (6,685) (7,018) (8,091)
Other operating income 3,720 4,102 3,317 4,168 5,086 3,187 9,577
Other operating expenses (3,370) (5,455) (6,620) (5,966) (6,336) (6,567) (12,390)
Items affecting comparability 113 313 (2,450) — (1,450) (1,600) — 1,215 — — (2,331)
Operating income (loss) 7,204 5,130 (1,883) (836) (3,352) 313 9,371 10,239 3,710 8,418 6,679
Income from investments in
associated companies 120 (1,749) 5,861 2,119 314 2,929 444
Income from other
investments 157 444 1,667 788 9,007 1,168 4,526
Interest income and
similar credits 1,039 1,837 1,556 1,639 3,973 4,250 3,051 3,996 4,817 3,486 1,502
Interest expenses and
similar charges (5,111) (5,599) (3,608) (3,757) (3,271) (2,748) (1,375)
Other financial income and
expenses (536) (301) 36 (337) (374) (77) (157)
Income after financial items 8,243 6,967 (327) 803 (4,749) (2,642) 16,378 13,048 14,203 13,176 11,619
Taxes (3,200) (2,145) (719) (560) 138 (468) (2,783) (3,741) (1,825) (2,705) (2,939)
Minority interests in net income (103) (35) 26 439 1,291 (356) (365) (45) 99 (112) (42)
Profit (loss) for the year 4,940 4,787 (1,020) 682 (3,320) (3,466) 13,230 9,262 12,477 10,359 8,638
1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
Assets
Intangible non-current assets 297 429 318 373 298 2,284 4,545 5,626 2,277 3,284 5,778
Tangible non-current assets 15,610 19,449 19,897 18,549 20,130 28,157 28,196 27,941 31,426 44,294 58,492
Financial non-current assets 22,066 25,128 30,263 35,277 36,932 33,819 27,467 28,991 25,668 24,527 35,110
Non-current assets 37,973 45,006 50,478 54,199 57,360 64,260 60,208 62,558 59,371 72,105 99,380
Inventories 19,401 18,830 18,316 16,705 18,368 21,390 23,380 23,929 23,148 27,993 32,128
Current receivables 13,945 15,837 15,718 17,065 19,519 27,424 30,545 28,906 31,979 42,594 52,694
Marketable securities 11,264 13,096 12,301 14,477 14,950 13,123 15,878 15,817 21,577 10,962 7,168
Cash and bank accounts 4,368 5,374 5,284 4,302 6,810 8,319 8,571 7,489 5,084 9,641 13,056
Current assets 48,978 53,137 51,619 52,549 59,647 70,256 78,374 76,141 81,788 91,190 105,046
Assets 86,951 98,143 102,097 106,748 117,007 134,516 138,582 138,699 141,159 163,295 204,426
Shareholders’ equity and liabilities
Restricted equity 23,116 23,395 21,476 17,594 15,029 13,622 16,765 16,582 17,224 19,122 19,749
Unrestricted equity 10,124 14,244 13,815 16,270 14,692 13,466 26,567 34,618 40,652 41,309 48,307
Shareholders’ equity 33,240 37,639 35,291 33,864 29,721 27,088 43,332 51,200 57,876 60,431 68,056
Minority interests 484 414 300 4,986 3,919 6,686 838 605 504 899 860
Provisions 16,738 20,374 20,011 21,492 18,138 22,953 28,123
Non-current liabilities 53,227 60,090 66,506 67,898 13,822 14,153 11,996 16,885 18,189 23,135 26,012
Current liabilities 52,807 66,215 62,405 48,517 46,452 55,877 81,375
Shareholders’ equity and
liabilities 86,951 98,143 102,097 106,748 117,007 134,516 138,582 138,699 141,159 163,295 204,426
Assets pledged 1,997 2,427 2,417 2,641 4,114 4,613 6,527 5,434 6,503 6,743 5,388
Contingent liabilities 3,095 2,986 3,270 4,691 6,808 8,656 7,581 7,450 6,188 5,406 6,737
99
1 Effective January 1, 1997, the new Annual Accounts Act is being applied
by Swedish corporations and certain trading companies. Values for the
years 1992 through 1996 have been adjusted to conform with the new
principles and forms of presentation.
Income statements1SEK M
ELEVEN-YEAR SUMMARY FOR THE VOLVO GROUP
Balance sheets1SEK M