Volvo 2007 Annual Report Download - page 153
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Please find page 153 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. Financial information 2007 149
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 in the Annual Reports 2005
Consolidated income statements
SEK M 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Net sales 183,625 212,936 125,019 130,070 189,280 186,198 183,291 211,076 240,559 258,835 285,405
Cost of sales (138,990) (163,876) (99,501) (104,548) (155,592) (151,569) (146,879) (164,170) (186,662) (199,054) (219,600)
Gross income 44,635 49,060 25,518 25,522 33,688 34,629 36,412 46,906 53,897 59,781 65,805
Research and development expenses (8,659) (10,104) (4,525) (4,876) (5,391) (5,869) (6,829) (7,614) (7,557) (8,354) (11,059)
Selling expenses (17,160) (19,042) (8,865) (10,140) (15,766) (16,604) (16,866) (19,369) (20,778) (21,213) (26,068)
Administrative expenses (7,018) (8,091) (4,791) (4,974) (6,709) (5,658) (5,467) (5,483) (6,301) (6,551) (7,133)
Other operating income and expenses (3,141) (2,634) (611) 622 (4,096) (4,152) (1,367) (618) (588) (3,466) 163
Income (loss) from investments in
associated companies 2,929 444 567 444 50 182 200 27 (557) 61 430
Income from other investments 1,168 4,526 170 70 1,410 309 (3,579) 830 37 141 93
Income from divestment of subsidiaries – – 26,695 – – – – – – – –
Restructuring costs – (2,331) – – (3,862) – – – – – –
Operating income (loss) 12,754 11,828 34,158 6,668 (676) 2,837 2,504 14,679 18,153 20,399 22,231
Interest income and similar credits 3,197 1,268 1,812 1,588 1,275 1,217 1,096 821 654 666 952
Interest expenses and similar charges (2,699) (1,315) (1,505) (1,845) (2,274) (1,840) (1,888) (1,254) (972) (585) (1,122)
Other fi nancial income and expenses (76) (162) 131 (165) (191) (201) (55) (1,210) 181 (181) (504)
Income (loss) after fi nancial items 13,176 11,619 34,596 6,246 (1,866) 2,013 1,657 13,036 18,016 20,299 21,557
Income taxes (2,583) (3,140) (2,270) (1,510) 326 (590) (1,334) (3,129) (4,908) (3,981) (6,529)
Income (loss) for the period 10,593 8,479 32,326 4,736 (1,540) 1,423 323 9,907 13,108 16,318 15,028
Attributable to
Equity holders of the parent company 10,481 8,437 32,222 4,709 (1,467) 1,393 298 9,867 13,054 16,268 14,932
Minority interest 112 42 104 27 (73) 30 25 40 54 50 96
10,593 8,479 32,326 4,736 (1,540) 1,423 323 9,907 13,108 16,318 15,028
Consolidated income statements Industrial operations
SEK M 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Net sales 178,531 205,712 116,382 120,392 180,615 177,080 174,768 202,171 231,191 249,020 276,795
Cost of sales (135,027) (158,077) (92,772) (97,131) (149,477) (145,453) (141,256) (158,453) (180,823) (192,400) (214,160)
Gross income 43,504 47,635 23,610 23,261 31,138 31,627 33,512 43,718 50,368 56,620 62,635
Research and development expenses (8,659) (10,104) (4,525) (4,876) (5,391) (5,869) (6,829) (7,614) (7,557) (8,354) (11,059)
Selling expenses (16,763) (18,468) (8,117) (9,285) (14,663) (15,393) (15,891) (18,317) (19,616) (19,999) (24,671)
Administrative expenses (6,889) (7,950) (4,632) (4,651) (6,474) (5,464) (5,259) (5,310) (6,147) (6,481) (7,092)
Other operating income and expenses (3,015) (2,515) (587) 309 (3,071) (2,989) (540) 7 (397) (3,275) 249
Income from Financial Services 375 681 1,066 1,499 325 490 926 1,365 2,033 – –
Income (loss) from investments in
associated companies 3,033 354 478 341 (86) 126 166 2 (568) 61 428
Income from other investments 1,168 4,526 170 70 1,408 309 (3,581) 828 37 141 93
Income from divestment of subsidiaries – – 26,695 – – – – – – – –
Restructuring costs – (2,331) – – (3,862) – – – – – –
Operating income (loss) 12,754 11,828 34,158 6,668 (676) 2,837 2,504 14,679 18,153 18,713 20,583
and 2006. As from January 1, 2007, the benefi ts from the synergies
created in the business units are transferred back to the product
areas. Also, as from January 1, 2007, the responsibility for the Group’s
treasury operations and real estate has been transferred from Finan-
cial services, which, as from January 1, 2007, only are consolidated in
accordance with the purchase method. Comparison fi gures for 2006
have been recalculated.