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44 Volvo Group 2005
Board of Directors’ report
The Volvo
Group 2005
(0.7) 18.22.5
2.8
14.7
01 02 03 04 05
0
01 02 03 04 05
180.6 231.2174.8
177.1
202.2
Net sales1
SEK bn
Operating income1
SEK bn
In the Board of Directors’ Report
through page 79, Volvo Financial
Services is reported in accordance
with the equity method.
1 Years 2004 and 2005 are reported in accordance with
IFRS and 2001, 2002 and 2003 in accordance with prevail-
ing Swedish GAAP. See Note 1 and 3.