Volvo 2006 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2006 Volvo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 170

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170

90 Financial information 2006
The Volvo Group
The effects of major acquisitions and divestments of subsidiaries in
each year have been excluded from other changes for the balance
sheet items in the cash-fl ow statement. The effects of currency
movements in translation of foreign Group companies have also
been excluded since these effects do not affect cash fl ow. Cash and
cash equivalents include cash and bank balances.
Consolidated cash-flow statements
SEK M 2004 2005 2006
Operating activities
Operating income 14,679 18,153 20,399
Depreciation and amortization Note 14 10,003 9,894 12,384
Other items not affecting cash Note 30 (30) 413 652
Changes in working capital:
(Increase)/decrease in receivables (4,017) (1,253) (475)
(Increase)/decrease in customer
fi n a nce receivables Note 30 (7,382) (7,773) (5,188)
(Increase)/decrease in inventories (2,243) (2,438) (3,111)
Increase/(decrease) in liabilities
and provisions 4,797 (983) 1,106
Interest and similar items received 1,047 2,430 737
Interest and similar items paid (335) (2,341) (585)
Other fi nancial items (25) (70) (29)
Income taxes paid (1,194) (2,023) (4,388)
Cash fl ow from operating activities 15,300 14,009 21,502
Investing activities
Investments in fi xed assets (7,405) (10,271) (9,969)
Investments in leasing assets (4,360) (4,549) (4,611)
Disposals of fi xed assets and
leasing assets 2,444 2,646 3,240
Shares and participations, net Note 30 15,064 336 (5,817)
Acquired and divested subsidiaries
and other business units, net Note 4, 30 (141) 650 510
Interest-bearing receivables including
marketable securities (6,413) (811) (1,359) (12,547) 7,650 (8,997)
Cash fl ow after net investments 14,489 1,462 12,505
Financing activities
Increase/(decrease) in bond loans
and other loans Note 30 (8,840) 3,564 (2,609)
Cash dividend to AB Volvo
shareholders’ (3,356) (5,055) (6,775)
Repurchase of own shares (2,532) (1,764) –
Dividends to minority shareholders (9) (28) (7)
Other 38 (14,699) 15 (3,268) 35 (9,356)
Change in cash and cash equivalents,
excluding translation differences (210) (1,806) 3,149
Translation difference on cash and cash equivalents (205) 1,128 (505)
Change in cash and cash equivalents (415) (678) 2,644
Cash and cash equivalents,
January 1 Note 22 9,206 8,791 8,113
Cash and cash equivalents,
December 31 Note 22 8,791 8,113 10,757