Volvo 2004 Annual Report Download - page 54
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52 The Volvo Group
Consolidated income statements
SEK M 2002 2003 2004
Net sales Note 4 186,198 183,291 210,401
Cost of sales (151,569) (146,879) (163,947)
Gross income 34,629 36,412 46,454
Research and development expenses Note 4 (5,869) (6,829) (7,233)
Selling expenses (16,604) (16,866) (19,099)
Administrative expenses (5,658) (5,467) (5,494)
Other operating income and expenses Note 5 (4,152) (1,367) (1,285)
Income from investments in associated companies Note 4, 6 182 200 27
Income from other investments Note 7 309 (3,579) 830
Operating income Note 4 2,837 2,504 14,200
Interest income and similar credits 1,217 1,096 820
Interest expenses and similar charges (1,840) (1,888) (1,231)
Other financial income and expenses Note 8 (201) (55) (1,210)
Income after financial items 2,013 1,657 12,579
Income taxes Note 9 (590) (1,334) (3,184)
Minority interests in net income Note 10 (30) (25) (40)
Net income 1,393 298 9,355
Net income per share, SEK 3.32 0.71 22.35
Diluted earnings per share, SEK 3.32 0.71 22.33
Financial Information