Volvo 2014 Annual Report Download - page 177

Changes in AB Volvo’s holding of shares and participations are disclosed below:
Group companies Joint ventures and associated companies Non-Group companies
2014 2013 2014 2013 2014 2013
Opening balance as of January 1 60,763 56,832 3,343 3,374 1,203 791
Acquisitions/New issue of shares 2 4,203 – – – –
Divestments (31)(787) –– ––
Shareholder’s contribution 683 1,511 – – 1 1
Write-downs/participations in partnerships (134) (996) (21) (31) – (4)
Revaluation of shares in listed companies – – – – 3,037 415
B/S Balance sheet, December 31 61,283 60,763 3,322 3,343 4,241 1,203
Holding of shares in Group
companies Dec 31,
2014 Dec 31, 2014 Dec 31, 2013
Registration
number Percentage holding1Carrying
value2Carrying value2
Volvo Lastvagnar Sverige AB, Sweden 556013-9700 100 8,711 8,711
Volvo Holding Sverige AB, Sweden 556539-9853 100 7,634 7,634
Volvo Group Japan Co., Japan – 100 8,928 8,928
Volvo Bussar AB, Sweden 556197-3826 100 1,917 1,917
Volvo Construction Equipment NV,
The Netherlands – 100 2,582 2,582
AB Volvo Penta, Sweden 556034-1330 100 438 438
VNA Holding Inc., USA – 100 3,278 3,278
Volvo Financial Services AB, Sweden 556000-5406 100 1,945 1,945
Volvo Treasury AB, Sweden 556135-4449 100 13,044 13,044
Sotrof AB, Sweden 556519-4494 100 1,388 1,388
Volvo Korea Holding AB, Sweden 556531-8572 100 2,655 2,655
Volvo China Investment Co Ltd., China – 100 1,096 1,096
Volvo Automotive Finance (China) Ltd., China – 100 491 491
Volvo Group UK Ltd., Great Britain3– 39 561 413
Volvo Holding Mexico, Mexico – 100 531 531
Volvo Group Venture Capital AB, Sweden 556542-4370 100 361 361
Volvo Powertrain AB, Sweden 556000-0753 100 898 498
Volvo Information Technology AB, Sweden 556103-2698 100 1,263 1,263
Volvo Parts AB, Sweden 556365-9746 100 150 150
Volvo Group Insurance Försäkrings AB, Sweden 516401-8037 100 182 182
Volvo Business Services AB, Sweden 556029-5197 100 67 67
Volvo Danmark A/S, Denmark – 100 128 128
VFS Servizi Financiari Spa, Italy4– 25 79 79
Kommersiella Fordon Europa AB, Sweden 556049-3388 100 1,890 1,890
Volvo Norge A/S, Norway – 100 56 56
Volvo Malaysia Sdn, Malaysia – 100 48 48
ZAO Volvo Vostok, Russia5– 75 34 34
Volvo Italia Spa, Italy – 100 447 447
CPAC Systems AB, Sweden6556566-2870 49 367 367
Volvo Logistics AB, Sweden 556197-9732 100 85 85
Rossareds Fastighets AB, Sweden 556009-1190 – – 26
Alviva AB, Sweden 556622-8820 100 5 5
Volvo East Asia (Pte) Ltd., Singapore – 100 9 9
Volvo Information Technology GB Ltd.,
GreatBritain – 100 3 3
VFS Latvia SIA, Latvia – 100 9 9
VFS Int Romania Leasing Operational, Romania – 100 2 –
Other holdings – 100 1 5
Total carrying value Group companies7 61,283 60,763
Holding of shares in Joint Ventures,
associated companies and
non-Group companies
Dec 31,
2014 Dec 31, 2014 Dec 31, 2013
Registration
number Percentage holding1Carrying
value2 Carrying value2
VE Commercial Vehicles Ltd., India8–45.6 1,616 1,616
Eicher Motors Ltd., India – 8.4 4,228 1,191
Deutz AG, Germany – 25.0 1,359 1,359
Blue Chip Jet HB, Sweden 969639-1011 50.0 3 3
Blue Chip Jet II HB, Sweden 969717-2105 50.0 339 359
Other investments – – 18 18
Total carrying value, joint ventures, associated
companies and non-Group companies 7,563 4,546
Shares and participations in Group companies
During 2014 shareholder’s contribution has been
given to Volvo Group UK Ltd by 283 and to Volvo
Powertrain AB by 400. Subscription in the new
company VFS Int Romania Leasing Operational
has been made by 2. Divestment of Rossared Fas-
tighets AB has been made by 26 and AB Fortos by
5. Write-down of shares in Volvo Group UK Limited
has been made by 134 (–).
During 2013 a subscription in Volvo Group Japan
Co was made by 3,392. Acquisition of shares in
Prévost Car (US) Inc was disposed by sharehold-
er’s contribution to VNA Holding Inc. by 787.
Shareholder’s contribution was given to Volvo
Information Technology AB by 600 and to Volvo
Italia Spa by 124. Acquisition of shares in Renault
Trucks Danmark A/S was made by 24. Renault
Trucks Danmark A/S was later on merged into
Volvo Danmark A/S. Write-down of shares in Volvo
Group Japan Co was made by 843, in Volvo Italia
Spa by 63, in Volvo Parts AB by 50 and in Volvo
Business Services AB by 40.
AB Volvo’s holding in Group companies is pre-
sented in the adjoining table.
Investments in associated companies
and joint ventures
Write-down of the participation in Blue Chip Jet II
HB was recognized by 21 (26). During 2013 write
down of the participation in Blue Chip Jet HB was
recognized by 5.
Shares and participations in non-Group
companies
Revaluation to fair value of the holding in the listed
company Eicher Motors Ltd has increased the
value by 3,037 (415) recognized in other compre-
hensive income.
1 The percentage holding refers to the Parent
Company AB Volvo’s holding.
2 Refers to AB Volvo’s carrying value of its holding.
3 Total holding by Volvo Lastvagnar AB and AB
Volvo is 100%.
4 Total holding by Volvo Italia Spa and AB Volvo
is 100%.
5 Total holding by AB Volvo and Volvo Trucks
Region Central Europe GmbH is 100%.
6 Total holding by AB Volvo and AB Volvo Penta
is 100%.
7 AB Volvo’s share of shareholders’ equity in
subsidiaries (including equity in untaxed
reserves) was 101,274 (101,937).
8 In Volvo Group the company is reported as a
joint venture, consolidated according to equity
method.
FINANCIAL INFORMATION 2014
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