Volvo 2003 Annual Report Download - page 4

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2
The Volvo Group year 2003
The Volvo Share
Shareholders
Due to the increase in international cross-
border trading of shares, Volvo has concen-
trated the trading of Volvo shares to the
stock exchanges in Stockholm, London and
New York (NASDAQ). In the fourth quarter of
2003, Volvo decided to apply for delisting of
its shares from the German stock exchanges
in Frankfurt, Hamburg and Düsseldorf. The
delisting is planned to be effective in the
latter part of 2004.
The dialogue with shareholders is of great
importance to Volvo. In addition to the
Annual General Meeting in April, a large
number of activities took place in 2003
aimed at the professional investment
community and Volvo’s private shareholders.
The Investors website on the Internet
(www.volvo.com) is an important tool that
makes it possible for all shareholders to
obtain relevant and timely information about
Volvo. In 2003, a new subscription service
was launched at the website, that enables all
shareholders to receive tailor-made informa-
tion from Volvo.
The Volvo share in 2003
The year 2003 was characterized by recov-
ering share prices on stock markets world-
wide. In the US, the Dow Jones Industrial
Average rose by 25% and NASDAQ
Composite closed 50% higher. In Sweden,
the Stockholmsbörsen All Share Index
increased by 30%.
At the end of 2003 Volvo’s market value
amounted to SEK 91 billion, seventh in size
on Stockholmsbörsen. The Volvo Series B
share rose by 55% in 2003, compared with
an increase of 27% on the MSCI Europe
Machinery Index. In 2003, the effective return
on the Volvo B share was 61%. Income per
share amounted to SEK 0.70 (3.30). Exclu-
ding write-down of shares, income per share
more than tripled to SEK 10.30 in 2003.
A total of 436 million Volvo shares were
traded on Stockholmsbörsen, which accounts
for the largest percentage of turnover, with
an average of 1.8 million Volvo shares traded
each day. During 2003, Volvo was the
eleventh most actively traded share in terms
of value on Stockholmsbörsen.
99 00 01 03
12.4 11.2 3.1 10.3
Net income* and cash dividend per share
Net income*,
SEK per share
Dividend,
SEK per share
7.0 8.0 8.0 8.0
02
3.3
8.0
99 00 01 03
3.2 5.1 4.5 3.6
02
5.6
Direct return*, %
* Dividend as percentage
of share price
*excluding divested
operations, restruc-
turing costs and
write-down of
shares.
Ownership, categories*, %
Non-Swedish owners, (52)
Savings funds, (10)
Private share-
holdings, (12)
Pension funds and insur-
ance companies (14)
Others, (12)
Ownership by country*, %
Sweden, (48.0)
France, (20.3)
US, (17.3)
UK, (6.0)
Switzerland, (2.2)
Others, (6.2)
* of capital, registered shares
* of capital, registered shares