Volvo 2014 Annual Report Download - page 114

Download and view the complete annual report

Please find page 114 of the 2014 Volvo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 194

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194

For the Volvo Group 2014 was a year with improved underlying profi tability in a mixed economic environment.
FINANCIAL PERFORMANCE
Improved underlying profi tability
INCOME STATEMENTS VOLVO GROUP
Industrial Operations Customer Finance Eliminations Volvo Group
SEK M 2014 2013 2014 2013 2014 2013 2014 2013
Net sales Note 6, 7 275,999 265,420 10,111 9,539 (3,162) (2,337) 282,948 272,622
Cost of sales (217,251) (209,307) (5,923) (5,534) 3,162 2,337 (220,012) (212,504)
Gross income 58,748 56,113 4,188 4,005 – – 62,937 60,118
Research and development expenses (16,656) (15,124) – – – – (16,656) (15,124)
Selling expenses (25,778) (26,904) (1,670) (1,602) – – (27,448) (28,506)
Administrative expenses (5,367) (5,824) (41) (38) – – (5,408) (5,862)
Other operating income and expenses Note 8 (6,931) (2,710) (766) (843) – – (7,697) (3,554)
Income from investments in joint ventures
and associated companies Note 5, 6 46 96 – – – – 46 96
Income (loss)from other investments Note 5 49 (31) 1 – – – 50 (30)
Operating income 4,111 5,616 1,712 1,522 – – 5,824 7,138
Interest income and similar credits 328 381 – – – – 328 381
Interest expenses and similar charges (1,994) (2,810) – – – – (1,994) (2,810)
Other fi nancial income and expenses Note 9 931 11 – – – – 931 11
Income after fi nancial items 3,377 3,199 1,712 1,522 – – 5,089 4,721
Income taxes Note 10 (2,287) (451) (568) (468) – – (2,854) (919)
Income for the period 1,091 2,748 1,145 1,054 – – 2,235 3,802
Attributable to:  
Equity holders of the parent company 2,099 3,583
Minority interests Note 11136219
2,2353,802
Basic earnings per share, SEK Note 19 1.03 1.77
Diluted earnings per share, SEK Note 19 1.03 1.76
OTHER COMPREHENSIVE INCOME
SEK M 2014 2013
Income for the period 2,235 3,802
Items that will not be reclassifi ed to income statement:
 Remeasurements of defi ned benefi t pension plans (2,833) 3,904
Items that may be reclassifi ed subsequently to income statement:
 Exchange differences on translation of foreign operations 5,998 (1,634)
 Share of OCI related to joint ventures and associated companies 198 (135)
 Accumulated translation difference reversed to income 33 37
 Available-for-sale investments 3,067 470
 Change in cash fl ow hedge reserve Note 19 24 9
Other comprehensive income, net of income taxes 6,487 2,651
Total comprehensive income for the period 8,722 6,453
Attributable to:
Equity holders of the parent company 8,334 6,196
Minority interests 388 257
8,722 6,453
110
FINANCIAL INFORMATION 2014