Volvo 1998 Annual Report Download - page 54

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52
1996 1997 1998
Net sales Note 3 156,060 183,625 212,936
Cost of sales (121,249) (138,990) (163,876)
Gross income 34,811 44,635 49,060
Research and development expenses ( 8,271) (8,659) (10,104)
Selling expenses (14,895) (17,160) (19,042)
Administrative expenses (6,685) (7,018) (8,091)
Other operating income and expenses Note 4 (1,250) (3,380) (2,813)
Items affecting comparability Note 5 ——(2,331)
Operating income Note 6 3,710 8,418 6,679
Income from investments in associated companies Note 7 314 2,929 444
Income from other investments Note 8 9,007 1,168 4,526
Interest income and similar credits 4,817 3,486 1,502
Interest expenses and similar charges (3,271) (2,748) (1,375)
Other financial income and expenses Note 9 (374) (77) (157)
Income after financial items 14,203 13,176 11,619
Taxes Note 10 (1,825) (2,705) (2,939)
Minority interests in net (income) loss Note 11 99 (112) (42)
Profit for the year 12,477 10,359 8,638
VOLVO GROUP
Consolidated income statements SEK M