Volvo 2007 Annual Report Download - page 110
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Please find page 110 of the 2007 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.The Volvo Group
106 Financial information 2007
Notes to consolidated fi nancial statements
Changes in the Volvo Group’s holdings of shares and participations: 2006 2007
Balance sheet, December 31, preceding year 751 6,890
Change in Group structure – (5,535)
Acquisitions and divestments, net 5,809 907
Net of write-downs/revaluations (72) (15)
New issue of shares and shareholders’ contributions 45 155
Share of income in associated companies 55 108
Change in Group structure 0 0
Fair value of shares 392 (204)
Translation differences (30) (39)
Dividends (3) 0
Other (57) (48)
Balance sheet, December 31 6,890 2,219
Note 16 Long-term customer-fi nancing receivables
2006 2007
Installment credits 17,475 19,836
Financial leasing 13,980 20,298
Other receivables 634 352
Total 32,089 40,486
Effective interest rate for Long-term customer-fi nancing receivables was 7.45% as per December 31, 2007.
Long-term customer-fi nancing receivables maturities
2009 18,170
2010 12,824
2011 6,810
2012 2,066
2013 or later 616
Total 40,486
See notes 36 and 37 for fi nancial instruments and goals and policies
in fi nancial risk management.
Petro Stopping Centers
The company was divested in 2007.
Småföretagarinvest AB
The company was divested in 2007.
Nissan Diesel
Nissan Diesel is consolidated in the Volvo Group as of the fi rst quarter
of 2007.
On March 21, AB Volvo acquired 40 million shares, corresponding
to 13% of the shares, in the Japanese truck manufacturer Nissan
Diesel from Nissan Motor for approximately SEK 1,5 billion, with an
option to acquire Nissan Motor’s remaining 6% of the shares. During
the third quarter, AB Volvo exercised its option and purchased an
additional 6% of the shares in Nissan Diesel for approximately SEK
500 M. AB Volvo owned a total of 19% of the shares in the Japanese
truck manufacturer at December 31, 2006. In addition, AB Volvo
acquired all 57.5 million preference shares in Nissan Diesel from Nissan
Motor and Japanese banks for a total of SEK 3.5 billion. The book
value for the shares in Nissan Diesel was 5,445 at December 2006.
For the period ending March 31, 2007, the holding was reported as
an associated company, since according to Volvo’s assessment a
substantial infl uence existed. Executive Vice President of AB Volvo
and Deputy CEO of the Volvo Group, Jorma Halonen, was appointed
Chairman of the Board of Directors of Nissan Diesel in 2006. Volvo
reported its share in earnings of Nissan Diesel with a time-lag of one
quarter.
Deutz
During 2006 Volvo invested additionaly 95 in Deutz AG.