Volvo 1999 Annual Report Download - page 56

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54
SEK M 1997 1998 1999
Net sales Note 3 183,625 212,936 125,019
Cost of sales (138,990) (163,876) (98,576)
Gross income 44,635 49,060 26,443
Research and development expenses (8,659) (10,104) (4,525)
Selling expenses (17,160) (19,042) (8,858)
Administrative expenses (7,018) (8,091) (5,723)
Other operating income and expenses Note 4 (3,380) (2,813) (783)
Items affecting comparability Note 5 — (2,331) 26,695
Operating income Note 6 8,418 6,679 33,249
Income from investments in associated companies Note 7 2,929 444 567
Income from other investments Note 8 1,168 4,526 170
Interest income and similar credits 3,486 1,502 2,049
Interest expenses and similar charges (2,748) (1,375) (1,565)
Other financial income and expenses Note 9 (77) (157) 126
Income after financial items 13,176 11,619 34,596
Taxes Note 10 (2,583) (3,140) (2,270)
Minority interests in net income Note 11 (112) (42) (104)
Net income 10,481 8,437 32,222
The Volvo Group
Consolidated income statements