Volvo 2009 Annual Report Download - page 139

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Key ratios
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Gross margin, %120.3 19.3 17.2 17.9 19.2 21.6 21.8 22.7 22.6 21.3 13.9
Research and development
expenses as percentage of
net sales13.9 4.1 3.0 3.3 3.9 3.8 3.3 3.4 4.0 4.9 6.3
Selling expenses as percentage
of net sales17.0 7.7 8.1 8.7 9.1 9.1 8.5 8.0 8.9 8.7 11.4
Administration expenses as
percentage of net sales14.0 3.9 3.6 3.1 3.0 2.6 2.7 2.6 2.6 2.3 2.8
Return on shareholders’ equity, % 34.9 5.0 neg 1.7 0.4 13.9 17.8 19.6 18.1 12.1 (19.7)
Interest coverage, times123.1 4.5 neg 2.2 1.9 11.0 16.7 26.1 20.7 8.8 (4.7)
Self-financing ratio, % 29 39 92 110 152 163 116 189 153 5137
Self-financing ratio Industrial
operations, % 130 72 148 196 243 268 173 235 265 78 (16)
Financial position, Industrial
operations, SEK M 28,758 9,392 (7,042) (6,063) (2,426) 18 ,110 18,675 23,076 (4,305) (29,795) (41,489)
Net financial position as
percentage of shareholders'
equity , Industrial operations 29.3 10.6 (8.2) (7.7) (3.3) 25.8 23.7 29.2 (5.7) (39.7) (70.9)
Shareholders’ equity as
percentage of total assets 50.2 44.3 32.8 32.8 31.4 31.3 30.6 33.7 25.7 22.7 20.2
Shareholders’ equity as
percentage of total assets,
Industrial operations 67.3 60.8 41.8 42.4 40.5 40.0 40.4 40.6 30.8 28.4 23.8
Shareholders’ equity excluding
minority interest as percentage of
total assets 49.9 44.0 32.6 32.7 31.3 31.2 30.5 33.6 25.6 22.6 20.0
1 Pertains to the Industrial operations. For periods up to and including 2006, Financial Services is included and consolidated according to the equity method.
Exports from Sweden
SEK M 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
Volvo Group, total 52,719 46,251 50,394 52,730 49,300 62,653 71,133 80,517 88,606 96,571 41,829
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