Volvo 2003 Annual Report Download - page 1
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THE VOLVO GROUP
FINANCIAL REPORT
2003
The Volvo Group’s positive
trend continued in 2003 and
earnings, excluding write-down of
shares, more than
doubled. The improved
performance from the truck
operations in North America, a
strong earnings trend in Volvo
CE and another impressive result
from Volvo Penta contributed
to the improved
earnings. Cash flow
improved sharply. Income per
share increased to
SEK 10.30, excluding write-down
of shares.