Volvo 2007 Annual Report Download - page 2

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A global group
2 Vision, mission and values
4 Group overview
6 Organized to drive synergies
8 CEO comment
10 Market overview
12 Strategy focusing on creating value
14 Products and services that create added value
16 Financial strategy
18 Taking the lead to reduce climate impact
22 Strategic position in Asia
26 Major opportunities in Eastern Europe
Board of Directors’ Report
30 The share
32 Sustainable development
36 Signifi cant events
40 Financial performance
43 Financial position
46 Cash-fl ow statement
48 Risk management
51 Business areas
52 Trucks
54 Volvo Trucks
56 Renault Trucks
58 Nissan Diesel
60 Mack Trucks
62 Construction Equipment
64 Buses
66 Volvo Penta
68 Volvo Aero
70 Financial Services
Corporate Governance Report
72 Report
78 Group Management
80 Board of Directors and auditors
Financial information
83 Income statements
84 Balance sheets
85 Changes in shareholders’ equity
86 Cash-fl ow statements
87 Notes to the consolidated fi nancial statements
132 Parent Company AB Volvo
146 Remuneration policy
147 Proposed disposition of unappropriated earnings
148 Audit Report for AB Volvo
149 Eleven-year summary
158 Customer offering
Flap Defi nitions
Annual General Meeting The Board of Directors’ Report comprises pages 16–17, 30–71 and 146–147.
This report contains ‘forward-looking statements’. Such statements refl ect management’s current expectations with respect to certain
future events and potential fi nancial performance. Although the Company believes that the expectations refl ected in such forward loo-
king statements are reasonable, no assurance can be given that such expectations will prove correct. Such statements are subject to risk
and uncertainties and such future events and fi nancial performance could differ materially from those set out in the forward looking state-
ments as a result of, among other factors, (i) changes in economic, market and competitive conditions, (ii) success of business and opera-
ting initiatives, (iii) changes in the regulatory environment and other government actions, (iv) fl uctuations in exchange rates and (v) business
risk management.
This report does not imply that the company has undertaken to revise these forward-looking statements, beyond what is required under
the company's registration contract with OMX Nordic Exchange Stockholm if and when circumstances arise that will lead to changes compa-
red to the date when these statements were provided.
The Volvo Group's formal fi nancial reports are presented on pages 16–17, 30–71 and 82–147 in the printed version and has been audited
by the company's auditors.
The Volvo Group is one of the
leading suppliers of commercial
transport solutions providing
products such as trucks, buses,
construction equipment, drive
systems for marine and industrial
applications as well as aircraft
engine components. The Volvo
Group also offers its customers
fi nancial services.
The Group has about 100,000
employees, production facilities in
19 countries, and sales activities in
some 180 countries.
During 2007, Volvo Group sales rose
10% to SEK 285.4 billion, with earnings
per share amounting to SEK 7.37.
The share is listed on the OMX Nordic
Exchange Stockholm.
Part of Board of Directors’ Report