Volvo 2003 Annual Report Download - page 90

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88
Eleven-year summary
Operating cash flow excluding Financial Services
SEKbn 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Operating income 12.9 12.8 12.4 11.1 6.4 5.2 (1.0) 2.3 1.6
Depreciation and amortization 4.8 4.4 5.0 6.4 3.1 3.8 7.0 7.8 7.2
Other items not affecting cash (4.0) (5.5) (0.5) (1.6) 0.0 1.0 4.1
Change in working capital (6.3) (11.1) 3.4 0.7 (1.7) (3.0) 6.0 0.4 0.7
Financial items and income taxes (0.5) (2.3) (1.7) (0.8) (2.3) (1.1) (0.7)
Cash flow from operating activities 11.4 6.1 16.3 10.4 5.6 3.6 9.7 10.4 12.9
Investments in fixed assets (6.4) (8.0) (9.5) (10.2) (4.7) (5.1) (7.7) (6.3) (5.8)
Investments in leasing assets (0.8) (0.8) (0.5) (0.9) (0.5) (0.6) (0.5) (0.1) (0.1)
Disposals of fixed assets and leasing assets 1.2 1.8 1.0 1.5 0.8 0.7 1.1 1.1 0.6
Customer-financing receivables, net – – 0.3 (0.3) 0.1 0.0 0.8 0.0 0.0
Operating cash flow 5.4 (0.9) 7.6 0.5 1.3 (1.4) 3.4 5.1 7.6
11999, excluding gain on sale of Volvo Cars of SEK 26.7 billion.
2Reported on a single line in 1993–1996.
Consolidated cash-flow statements
SEKbn 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Operating income 1(0.8) 16.9 13.3 13.2 12.8 11.8 7.5 6.7 (0.7) 2.8 2.5
Depreciation and amortization 3.8 5.1 5.6 5.4 6.8 9.6 5.2 6.3 10.0 10.8 10.2
Other items not affecting cash 2(3.5) (4.9) (0.3) (0.4) 0.5 2.0 4.9
Change in working capital 23.5 (8.9) (7.3) (11.2) 4.7 1.5 (1.0) (3.3) 6.4 1.0 0.4
Financial items and income tax 2(0.4) (2.0) (1.7) (1.3) (2.1) (1.3) (0.9)
Cash flow from
operating activities 6.5 13.1 11.6 7.4 20.4 16.0 9.7 8.0 14.1 15.3 17.1
Investments in fixed assets (3.5) (4.3) (6.5) (8.2) (9.9) (10.5) (4.9) (5.4) (8.1) (6.7) (6.0)
Investments in leasing assets (1.7) (2.5) (2.6) (3.9) (9.8) (12.7) (5.6) (5.7) (5.8) (5.2) (5.3)
Disposals of fixed assets
and leasing assets 0.8 1.4 1.3 2.0 1.8 2.6 1.6 2.1 2.6 3.2 2.9
Customer financing receivables, net 1.9 (1.5) (1.6) (4.8) (15.5) (12.8) (7.1) (4.5) (3.7) (5.7) (4.3)
Shares and participations, net 0.5 8.2 2.0 14.1 10.7 5.5 (25.9) (1.6) 3.9 (0.1) (0.1)
Acquired and divested subsidiaries
and other business units, net 0.4 – (4.4) (0.9) (1.3) (5.6) 31.0 0.0 13.0 (0.2) 0.0
Cash flow after net investments 4.9 14.4 (0.2) 5.7 (3.6) (17.5) (1.2) (7.1) 16.0 0.6 4.3
Increase (decrease) in loans (5.9) (8.3) 1.5 6.8 5.6 19.5 16.3 8.1 6.2 (0.1) 1.9
Loans to external parties, net (0.2) (0.9) (0.9) (1.9) (0.4) (0.3) (3.2) 0.3 0.2 1.7 0.9
Repurchase of own shares –––––––(11.8) (8.3) – –
Dividend to AB Volvo shareholders (0.6) (0.6) (1.5) (1.9) (2.0) (2.2) (2.6) (3.1) (3.4) (3.4) (3.4)
Other 0.2 (1.3) 0.7 (5.0) (5.9) (0.2) (0.1) 0.0 0.1 0.1 0.1
Change in liquid funds,
excluding translation differences (1.6) 3.3 (0.4) 3.7 (6.3) (0.7) 9.2 (13.6) 10.8 (1.1) 3.8
Translation differences on liquid funds 1.3 (0.3) (0.7) (0.3) 0.3 0.3 (0.2) 0.3 0.6 (0.7) (0.6)
Change in liquid funds (0.3) 3.0 (1.1) 3.4 (6.0) (0.4) 9.0 (13.3) 11.4 (1.8) 3.2