Volvo 2003 Annual Report Download - page 34
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32
The Volvo Group
Consolidated income statements
SEK M 2001 2002 2003
Net sales Note 4 189,280 186,198 183,291
Cost of sales (155,592) (151,569) (146,879)
Gross income 33,688 34,629 36,412
Research and development expenses (5,391) (5,869) (6,829)
Selling expenses (15,766) (16,604) (16,866)
Administrative expenses (6,709) (5,658) (5,467)
Other operating income and expenses Note 5 (4,096) (4,152) (1,367)
Income from investments in associated companies Note 6 50 182 200
Income from other investments Note 7 1,410 309 (3,579)
Restructuring costs Note 8 (3,862) – –
Operating income (loss) Note 4 (676) 2,837 2,504
Interest income and similar credits 1,275 1,217 1,096
Interest expenses and similar charges (2,274) (1,840) (1,888)
Other financial income and expenses Note 9 (191) (201) (55)
Income (loss) after financial items (1,866) 2,013 1,657
Income taxes Note 10 326 (590) (1,334)
Minority interests in net income (loss) Note 11 73 (30) (25)
Net income (loss) (1,467) 1,393 298
Net income (loss) per share, SEK (3.50) 3.30 0.70