Volvo 2012 Annual Report Download - page 164
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Parent Company AB Volvo
Corporate registration number 556012-5790.
Amounts in SEK M unless otherwise specified. The amounts within parentheses refer to the preceding year, 2011.
Board of Directors’ report
AB Volvo is the Parent Company of the Volvo Group and its operations
comprise of the Group’s head office with staff together with some corpo-
rate functions.
Income from investments in Group companies includes 2,865 from gain
on sales of shares in Volvo Aero AB. Income includes dividends amounting
to 920 (2,719) and transfer price adjustments and royalties amounting to an
expense of 524 (1,000). Dividend received from Volvo Aero AB amounted to
572 and dividend received from Volvo Construction Equipment NV amounted
to 258.
The carrying value of shares and participations in Group companies
amounted to 56,832 (59,460), of which 55,940 (58,934) pertained to
shares in wholly owned subsidiaries. The corresponding shareholders’ equity
in the subsidiaries (including equity in untaxed reserves but excluding minor-
ity interests) amounted to 100,326 (99,139).
Investments in associated companies included 1,752 (413) in associated
companies that are reported in accordance with the equity method in the
consolidated accounts. The portion of shareholders’ equity in associated
companies pertaining to AB Volvo amounted to 1,419 (413). During 2012 AB
Volvo aquired additional shares in the listed company Deutz AG amounting
to 1,107. Total holding as of December 31, 2012 amounts to 25%.
Financial net debt amounted to 27,042 (30,665).
AB Volvo’s risk capital (shareholders’ equity plus untaxed reserves)
amounted to 41,241 (42,163) corresponding to 54% (55) of total assets.
INCOME STATEMENT
SEK M 2012 2 011
Net sales Note 2 670 721
Cost of sales Note 2 (670) (721)
Gross income 0 0
Administrative expenses Note 2, 3 (1,026) (880)
Other operating income and expenses Note 4 48 (146)
Income from investments in Group companies Note 5 3,151 1,658
Income from investments in associated companies Note 6 4130
Income from other investments Note 7 9 4
Operating income 2,186 766
Interest income and similar credits Note 8 0 0
Interest expenses and similar charges Note 8 (1,509) (1,677)
Other financial income and expenses Note 9 (112) (96)
Income after financial items 565 (1,007)
Allocations Note 10 5,628 7,085
Income taxes Not e 11 (1,092) (597)
Income for the period 5,101 5,481
OTHER COMPREHENSIVE INCOME
Income for the period 5,101 5,481
Available-for-sale investments (34) (159)
Other comprehensive income, net of income taxes (34) (159)
Total comprehensive income for the period 5,067 5,322
FINANCIAL INFORMATION 2012
160