Volvo 2009 Annual Report Download - page 2

A global group
2 CEO comment
4 Close to customers
6 Vision, mission and values
7 Strategy focusing on creating value
8 Particular focus 2010–2012
10 Strength factors
12 The Volvo Group’s product offering
14 Leading products …
16 … and world-class services
18 2009 was a dramatic year
Board of directors’ report
20 Signifi cant events
23 Financial performance
26 Financial position
28 Cash-fl ow statements
30 Financial strategy
32 The share
34 Risks and uncertainties
37 Group Segments
38 Trucks
39 Volvo Trucks
40 Renault Trucks
40 UD Trucks
41 Mack Trucks
41 VE Commercial Vehicles
42 Buses
44 Construction Equipment
46 Volvo Penta
48 Volvo Aero
50 Financial Services
52 Sustainable development
Corporate Governance Report
56 Corporate Governance Report
62 Group Management
64 Board of Directors and Auditors
Financial information 2009
67 Consolidated income statements
68 Balance sheets
69 Changes in shareholders’ equity
70 Cash-fl ow statements
71 Notes to consolidated fi nancial statements
114 Parent Company AB Volvo
128 Proposed remuneration policy
129 Proposed disposition of unappropriated earnings
130 Audit report for AB Volvo
131 Eleven-year summary
Flap Defi nitions
Annual General Meeting
2
A year of adaptation and alignment.
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 looking state-
ments 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 statements as a
result of, among other factors, (i) changes in economic, market and competitive conditions, (ii)
success of business and operating 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 Nor-
dic Exchange Stockholm if and when circumstances arise that will lead to changes compared to
the date when these statements were provided.
The Volvo Group’s formal fi nancial reports are presented on pages 20–55 and 66–129 in
the printed version and has been audited by the company’s auditors.
14
Leading products – developed with the
customer in focus.
18
2009 was a dramatic year – with fi nancial crisis and
a very weak global economy.
• by telephone, [phone], beginning March 12, 2010
• by mail addressed to AB Volvo (publ), ”AGM”,
• on AB Volvo's website www.volvogroup.com
• name
• personal number (registration number)
• address and telephone number
• name and personal number (registration number) of the proxy, if any
• name(s) of any accompanying assistant(s)
Christer Johansson [phone]
Patrik Stenberg [phone]
Anders Christensson [phone]
John Hartwell [phone]
Tel [phone]
Fax [phone]