Volvo 1998 Annual Report Download - page 62

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60
NOTE S
For practical reasons, most of the associated companies are in-
cluded in the Volvo Group accounts with a certain time lag, normally
one quarter.
1 In December 1998, the holding in ABB Olofström Automation
AB was divested.
2 In December 1997 Volvo do Brasil acquired the outstanding
shares of Transbanco Banco de Investimento SA. The com-
pany’s balance sheet was consolidated in the Volvo Group as of
December 31, 1997.
Volvo’s share of income in associated companies before taxes, is shown below:
Income (loss) Dividends received
1996 1997 1998 1996 1997 1998
Netherlands Car BV (334) (128) 232 – — —
Bilia AB 11 122 131 23 32 35
Xian Silver Bus Corp — 20 16———
AVC Intressenter AB 381 23 6 — — 506
Autonova AB (84) (45) 0 – — –
Sales-financing companies
AB Volvofinans 66 82 87467
VOCS Finance Ltd 31 47 16 – 84 85
Other companies 47 16 (25) 4 23 1
Holdings no longer reported as
equity method investments
ABB Olofström Automation AB1–25––––
Pripps Ringnes AB 263 — – 88 — –
Transbanco Banco de Investimento SA 2(133) (278) – — — –
Other companies 42 — (3) — — –
Subtotal 290 (116) 460 119 145 634
Gain (loss) on sale of shares
in associated companies
Pripps Ringnes AB — 3,027 —
Other companies 24 18 (16)
Subtotal 24 3,045 (16)
Total income from investments
in associated companies 314 2,929 444
Income from investments in associated companies Note 7