Volvo 2001 Annual Report Download - page 2

Contents
Directions and strategies
2Business structure
Volvo is one of the world’s leading manufactu-
rers of heavy commercial vehicles and diesel
engines. The Group is organized in eight busi-
ness areas: Volvo, Renault and Mack Trucks,
Buses, Construction Equipment, Volvo Penta,
Volvo Aero and Financial Services.
4Comments by the Chief
Executive Officer
Large structural changes,
business cycle management
and extensive product renewal
dominated the Volvo Group´s
activities during 2001.
6Strategy and Business
environment
Volvo’s vision is to be valued
as the world’s leading provider
of commercial transport solu-
tions.
12 The Volvo share
The shareholder dialogue is of high importance,
and the internet is an important two-way com-
munication tool which makes it possible to
obtain fast and relevant information.
36 Buses
Volvo Buses has renewed its
entire product range in less
than four years. Most of the
new models are based on TX,
the company´s product platform for intercity
buses and tourist coaches.
39 Construction Equipment
A number of new products
were successfully launched in
2001, including new articulat-
ed haulers, a new wheel loader
and a completely new range of backhoe loa-
ders.
42 Volvo Penta
Volvo Penta has extended its
product range in all business
segments through a number
of successful introductions
during the past years.
45 Volvo Aero
During 2001, Volvo Aero sig-
ned important agreements
with Rolls-Royce, American
Airlines, the Swedish Space
Corporation and Pratt & Whitney.
48 Financial Services
Financial services are a signifi-
cant part of Volvo’s strategy
for becoming the world’s lea-
ding provider of transport
solutions.
50 Group Management
52 Board of Directors and Auditors
Financial information
54 Consolidated income statements
55 Consolidated balance sheets
56 Consolidated cash flow statements
57 Notes to consolidated financial
statements
86 Parent Company AB Volvo
97 Proposed disposition of
unappropriated earnings
98 Auditors’ report for AB Volvo
99 Eleven-year summary
Production sites
Definitions and Reader’s guide
Annual General
Meeting, Volvo’s
Nomination
Committee and
Publication dates
Board of Director’s report
14 The year 2001
The acquisition of Renault Trucks and Mack
Trucks is a radical change, a milestone in the
development of the Group.
16 Financial performance
19 Financial position
20 Cash flow statement
22 Volvo in society
Volvo has a history of corpo-
rate citizenship based on its
three core values: Quality,
Safety and care for the
Environment.
24 Customers
By creating value for our customers we create
value for our shareholders.
26 Employees
Competence is a key success factor in today’s
business, the competence of our employees is
the competence of Volvo.
28 Clean and safe products
30 Environmental management
30 Production and environment
Volvo has production sites on
all continents. All production
plants must comply with Volvo’s
minimum requirements on
environmental performance,
regardless of location and size.
31 Financial risk management
32 Global Trucks
The Volvo Group’s purchase
of Mack Trucks and Renault
Trucks in 2001 created
Europe’s largest and the worl-
d’s second largest producer
of heavy trucks with a broad
product program.