Volvo 2006 Annual Report Download - page 158

154 Financial information 2006
Eleven-year summary
Consolidated income statements
SEK M 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Net sales 156,060 183,625 212,936 125,019 130,070 189,280 186,198 183,291 211,076 240,559 258,835
Cost of sales (121,249) (138,990) (163,876) (99,501) (104,548) (155,592) (151,569) (146,879) (164,170) (186,662) (199,054)
Gross income 34,811 44,635 49,060 25,518 25,522 33,688 34,629 36,412 46,906 53,897 59,781
Research and development expenses (8,271) (8,659) (10,104) (4,525) (4,876) (5,391) (5,869) (6,829) (7,614) (7,557) (8,354)
Selling expenses (14,895) (17,160) (19,042) (8,865) (10,140) (15,766) (16,604) (16,866) (19,369) (20,778) (21,213)
Administrative expenses (6,685) (7,018) (8,091) (4,791) (4,974) (6,709) (5,658) (5,467) (5,483) (6,301) (6,551)
Other operating income and expenses (1,087) (3,141) (2,634) (611) 622 (4,096) (4,152) (1,367) (618) (588) (3,466)
Income (loss) from investments in
associated companies 314 2,929 444 567 444 50 182 200 27 (557) 61
Income from other investments 9,007 1,168 4,526 170 70 1,410 309 (3,579) 830 37 141
Income from divestment of
subsidiaries – – – 26,695 – – – – – – –
Restructuring costs – – (2,331) – – (3,862) – – – – –
Operating income (loss) 13,194 12,754 11,828 34,158 6,668 (676) 2,837 2,504 14,679 18,153 20,399
Interest income and similar credits 4,530 3,197 1,268 1,812 1,588 1,275 1,217 1,096 821 654 666
Interest expenses and similar charges (3,114) (2,699) (1,315) (1,505) (1,845) (2,274) (1,840) (1,888) (1,254) (972) (585)
Other fi nancial income and expenses (407) (76) (162) 131 (165) (191) (201) (55) (1,210) 181 (181)
Income (loss) after
fi nancial items 14,203 13,176 11,619 34,596 6,246 (1,866) 2,013 1,657 13,036 18,016 20,299
Income taxes (1,825) (2,583) (3,140) (2,270) (1,510) 326 (590) (1,334) (3,129) (4,908) (3,981)
Income (loss) for the period 12,378 10,593 8,479 32,326 4,736 (1,540) 1,423 323 9,907 13,108 16,318
Attributable to
Equity holders of the parent company 12,477 10,481 8,437 32,222 4,709 (1,467) 1,393 298 9,867 13,054 16,268
Minority interest (99) 112 42 104 27 (73) 30 25 40 54 50
12,378 10,593 8,479 32,326 4,736 (1,540) 1,423 323 9,907 13,108 16,318
Consolidated income statements with Financial Services reported in accordance with the equity method
SEK M 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006
Net sales 150,425 178,531 205,712 116,382 120,392 180,615 177,080 174,768 202,171 231,191 248,135
Cost of sales (135,027) (158,077) (92,772) (97,131) (149,477) (145,453) (141,256) (158,453) (180,823) (192,242)
Gross income 43,504 47,635 23,610 23,261 31,138 31,627 33,512 43,718 50,368 55,893
Research and development expenses (8,659) (10,104) (4,525) (4,876) (5,391) (5,869) (6,829) (7,614) (7,557) (8,354)
Selling expenses (16,763) (18,468) (8,117) (9,285) (14,663) (15,393) (15,891) (18,317) (19,616) (19,999)
Administrative expenses (6,889) (7,950) (4,632) (4,651) (6,474) (5,464) (5,259) (5,310) (6,147) (6,352)
Other operating income and expenses (3,015) (2,515) (587) 309 (3,071) (2,989) (540) 7 (397) (3,292)
Income from Financial Services 375 681 1,066 1,499 325 490 926 1,365 2,033 2,301
Income (loss) from investments in
associated companies 3,033 354 478 341 (86) 126 166 2 (568) 61
Income from other investments 1,168 4,526 170 70 1,408 309 (3,581) 828 37 141
Income from divestment of subsidiaries – – 26,695 – – – – – – –
Restructuring costs – (2,331) – – (3,862) – – – – –
Operating income (loss) 13,194 12,754 11,828 34,158 6,668 (676) 2,837 2,504 14,679 18,153 20,399
Eleven-year summary
The eleven-year summary presents each year in accordance with
General Accepted Accounting Practice for that year. Earlier years
are not restated when new accounting standards are applied. The
years 1996–2003 are accounted for in accordance with Swedish
GAAP for the respective year. As from 2004 the reporting is based
on IFRS. The transition to IFRS is described in note 3.