Volvo 2013 Annual Report Download - page 172

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Parent Company AB Volvo
Corporate registration number 556012-5790.
Amounts in SEK M unless otherwise specifi ed. Amounts within parentheses refer to the preceding year, 2012.
Board of Directors’ report
AB Volvo is the Parent Company of the Volvo Group and its operations
comprise of the Group’s head offi ce with staff together with some corpo-
rate functions.
Income from investments in Group companies include dividends amount-
ing to 1,689 (920) and transfer price adjustments and royalties amounting to
an expense of 1,128 (524). Dividend received from Volvo Financial Services
AB amounted to 1,080 and dividend received from Volvo China Investment
Co Ltd amounted to 312.
During the year subscription in Volvo Group Japan Co has been made
by 3,392 after which the holding was written down by 843. Shareholders’
contribution has been given to Volvo Information Technology AB by 600
and to VNA Holding Inc by 787, the latter in form of total shares in Prévost
Car (US) Inc.
The carrying value of shares and participations in Group companies
amounted to 60,763 (56,832), of which 59,870 (55,940) pertained to shares
in wholly owned subsidiaries. The corresponding shareholders’ equity in
the subsidiaries (including equity in untaxed reserves but excluding
minority interests) amounted to 101,937 (100,326).
Investments in joint ventures and associated companies included 2,819
(1,752) in joint ventures and associated companies that are recognized in
accordance with the equity method in the consolidated accounts. The por-
tion of shareholders’ equity in joint ventures and associated companies
pertaining to AB Volvo amounted to 3,038 (1,419).
Financial net debt amounted to 33,685 (27,042).
AB Volvo’s risk capital (shareholders’ equity plus untaxed reserves)
amounted to 34,589 (41,241) corresponding to 45% (54%) of total assets.
INCOME STATEMENT
SEK M 2013 2012
Net sales Note 2 659 670
Cost of sales Note 2 (659) (670)
Gross income 00
Administrative expenses Note 2, 3 (974) (1,026)
Other operating income and expenses Note 4 (83) 48
Income from investments in Group companies Note 5 (541) 3,151
Income from investments in joint ventures and associated companies Note 6 0 4
Income from other investments Note 7 1 9
Operating income (1,597) 2,186
Interest income and similar credits Note 8 8 0
Interest expenses and similar charges Note 8 (1,139) (1,509)
Other fi nancial income and expenses Note 9 (57) (112)
Income after fi nancial items (2,785) 565
Allocations Note 10 831 5,628
Income taxes Note 11 333 (1,092)
Income for the period (1,621) 5,101
OTHER COMPREHENSIVE INCOME
Income for the period (1,621) 5,101
Items that may be reclassifi ed subsequently to income statement: 
Available-for-sale investments 415 313
Other comprehensive income, net of income taxes 415 313
Total comprehensive income for the period (1,206) 5,414
168
FINANCIAL INFORMATION 2013