Volvo 1998 Annual Report Download - page 84

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PARENT COMPANY AB VOLVO
82
1996 1997 1998
Year’s operations
Income after financial items 915 17,772 25,546
Depreciation 17 11 19
Write-down on shareholdings 60 8,252 953
Gain on sales of shares — 102 (143)
Taxes 2—(816)
Decrease (increase) in current operating assets:
Receivables 1,573 (3,332) (23,745)
Increase (decrease) in current operating liabilities:
Accounts payable (16) 1 (2)
Amounts due to subsidiaries 8,438 (9,160) 4,784
Other current liabilities and other provisions (1,569) (156) 785
Net financing from year’s operations 9,420 13,490 7,381
Investments (increase)
Rights, net – – (52)
Property, plant and equipment, net (32) 56 (16)
Investments in shares and participations, net (12,551) 4,645 (7,215)
Long-term receivables, net 158 (623) (15)
Net after investments (3,005) 17,568 83
Financing, dividends, etc
Increase (decrease) in short-term loans 5,836 (7,067) 764
Increase (decrease) in long-term loans and provisions for pensions (2,561) 2,360 (1,946)
Increase in shareholders’ equity as a result of
conversions and new issue of shares — 116 –
Redemption of shares in AB Volvo — (5,807) –
Dividend paid to shareholders (1,854) (1,993) (2,208)
Increase (decrease) in liquid funds (1,584) 5,177 (3,307)
Liquid funds, January 1 1,590 6 5,183
Liquid funds, December 31 6 5,183 1,876
Liquid funds include Cash and bank accounts and Short-term investments in Group companies.
Cash flow analysis SEK M