Volvo 2013 Annual Report Download - page 189

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Key ratios
2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
Gross margin, %121.1 21.9 23.7 23.3 13.9 21.3 22.6 22.7 21.8 21.6 19.2
Research and development expenses
as percentage of net sales15.7 5.0 4.4 5.0 6.3 4.9 4.0 3.4 3.3 3.8 3.9
Selling expenses as percentage
of net sales110.1 9.0 8.0 8.8 11.4 8.7 8.9 8.0 8.5 9.1 9.1
Administration expenses as
percentage of net sales12.2 1.9 2.3 2.2 2.8 2.3 2.6 2.6 2.7 2.6 3.0
Return on shareholders’ equity, % 5.0 12.9 23.1 16.0 (19.7) 12.1 18.1 19.6 17.8 13.9 0.4
Interest coverage, times12.1 6.7 9.6 5.9 (4.7) 8.8 20.7 26.1 16.7 11.0 1.9
Self-fi nancing ratio, % 84 18 118 270 137 5 153 189 116 163 152
Self-fi nancing ratio Industrial
Operations, % 112 72 210 294 (16) 78 265 235 173 268 243
Financial position, Industrial
Operations, SEK M (19,828) (22,978) (19,346) (24,691) (41,489) (29,795) (4,305) 23,076 18,675 18,110 (2,426)
Net fi nancial position as percentage
of shareholders’ equity1(46.8) (29.3) (25.2) (37.4) (70.9) (39.7) (5.7) 29.2 23.7 25.8 (3.3)
Shareholders’ equity as percentage
of total assets 22.4 25.7 24.3 23.3 20.2 22.7 25.7 33.7 30.6 31.3 31.4
Shareholders’ equity as percentage
of total assets, Industrial Operations 27.0 30.9 28.5 26.9 23.8 28.4 30.8 40.6 40.4 40.0 40.5
Shareholders’ equity excluding minority
interest as percentage of total assets 22.0 25.2 23.9 23.0 20.0 22.6 25.6 33.6 30.5 31.2 31.3
1 Pertains to the Industrial Operations. For periods up to and including 2006, Volvo Financial Services is included and consolidated according to the equity method.
Exports from Sweden
SEK M 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003
Volvo Group, total 88,560 84,314 91,065 72,688 41,829 96,571 88,606 80,517 71,133 62,653 49,300
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