Volvo 2005 Annual Report Download - page 15
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...creates a stronger
Volvo Group
The actions taken by the Volvo Group within the framework of its long-term strategy have in
all significant respects been successful. They have resulted in an improved cash flow and a
financial strength that can be used for business opportunities and substantial investments
in product and market development for the future.
Operating income1
SEK bn
Operating cash fl ow1, 2
SEK bn
1 Years 2004 and 2005 are reported in accordance with IFRS and 2001, 2002 and 2003 in accor-
dance with prevailing Swedish GAAP. See Note 1 and 3.
2 Excluding Financial Services.
01 02 03 04 05 01 02 03 04 05
(0.7) 2.8 2.5 14.7 18.2 3.4 5.1 7.6 11.4 6.8
Volvo Group 2005 11