Volvo 2010 Annual Report Download - page 7
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Positive development in the short
and long term
Thanks to hard work and the resolute execution
of cost-cutting measures, the Volvo Group has
taken itself through the collapse of the global
financial system and emerged as a stronger com-
pany at a time when the economic trend is once
again pointing in the right direction. I can con-
clude that both our distributors and our suppliers
are doing a great job, and that together we stand
prepared to meet the expected continuation of
the rise in volumes that we saw during 2010. We
are continuously working to trim the industrial
system in order to improve productivity and capi-
tal efficiency. We are also intensifying our activi-
ties within product development in preparation
for several important product launches in the
coming years.
Against the background of the Volvo Group’s
improved profitability, good cash flow, reduced
debt and the improved market outlook, as well as
the investments we have made and continue to
make in our plants and in product development, I
look upon the development of the Group with
confidence, both in the short- and the long-term
perspective.
Finally, I would like to say that it has been a
pleasure to work for the Volvo Group for these
past 14 years and that I wish my successor every
success in leading the Volvo Group into the
future.
Leif Johansson
President and CEO