Volvo 2015 Annual Report Download - page 167

Changes in AB Volvo’s holding of shares and participations are disclosed below:
Group companies Joint ventures and associated companies Non-Group companies
2015 2014 2015 2014 2015 2014
Opening balance as of January 1 61,283 60,763 3,322 3,343 4,241 1,203
Acquisitions/New issue of shares – 2 7,197 – – –
Divestments –381 –31 – – –232 –
Shareholder’s contribution – 683 – – 2 1
Repayment of equity – – –151 – – -
Impairment of shares and participations –166 –134 – –21 –3 –
Reversal impairment of shares and participations 30 – 29 – - -
Revaluation of shares in listed companies – – – – –3,995 3,037
B/S Balance sheet, December 31 60,766 61,283 10,397 3,322 13 4,241
Holding of shares in Group
companies
Dec 31, 2015 Dec 31, 2015 Dec 31, 2014
Registration
number Percentage holding1Carrying
value2Carrying value2
Volvo Lastvagnar AB, Sweden 556013–9700 100 8,711 8,711
Volvo Holding Sverige AB, Sweden 556539–9853 100 7,634 7,634
UD Trucks Corporation, 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– 40 561 561
Volvo Holding Mexico, Mexico – – – 531
Volvo Group Mexico SA de CV (JC) – 100 531 –
Volvo Group Venture Capital AB, Sweden 556542–4370 100 361 361
Volvo Powertrain AB, Sweden 556000–0753 100 898 898
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
Volvo Danmark A/S, Denmark – 100 157 128
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 43 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 – – 367
Volvo Logistics AB, Sweden 556197–9732 100 – 85
Alviva AB, Sweden 556622–8820 100 – 5
Volvo East Asia (Pte) Ltd., Singapore – 100 – 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 2
Other holdings – 1 1
Total carrying value Group companies7 60,766 61,283
Holding of shares in Joint Ventures,
associated companies and
non-Group companies
Dec 31, 2015 Dec 31, 2015 Dec 31, 2014
Registration
number Percentage holding1Carrying value2 Carrying value2
Dongfeng Commercial Vehicles Co. Ltd, China – 45.0 7,197 –
VE Commercial Vehicles Ltd., India8–45.6 1,616 1,616
Eicher Motors Ltd., India – – – 4,228
Deutz AG, Germany – 25.0 1,359 1,359
Blue Chip Jet HB, Sweden 969639–1011 50.0 8 3
Blue Chip Jet II HB, Sweden 969717–2105 50.0 212 339
Other investments – 18 18
Total carrying value, joint ventures, associated
companies and non-Group companies 10,410 7,563
Shares and participations in Group
companies
Fission in Volvo Norge AS created four new com-
panies which have been divested by the carrying
value of 14. CPAC AB has been divested by 367.
Impairment of shares in Volvo Logistics AB has
been made by 85, in Volvo Business Services AB
by 67, in Volvo East Asia (Pte) Ltd by 9 and in
Alviva AB by 5. Reversal of impairment of shares
has been made in Volvo Danmark AS by 30.
During 2014 shareholder’s contribution was
given to Volvo Group UK Limited by 283 and to
Volvo Powertrain AB by 400. Subscription in the
new company VFS Int Romania Leasing Opera-
tional was made by 2. Divestment of Rossared
Fastighets AB was made by 26 and AB Fortos by
5. Impairment of shares in Volvo Group UK Lim-
ited was made by 134.
AB Volvo’s holding in Group companies is pre-
sented in the adjoining table.
Investments in associated companies
and joint ventures
Investment in Dongfeng Commercial Vehicles Co
Ltd. has been made by 7,197. Repayment of equity
has decreased the holding in Blue Chip Jet II by
151. Reversal of impairment of the participation in
Blue Chip Jet was recognized by 4 and in Blue
Chip Jet II HB by 25.
During 2014 impairment of participation in
Blue Chip Jet II HB was recognized by 21.
Shares and participations in non-Group
companies
During 2015 divestment of the holding in the
listed company Eicher Motors Ltd. to a carrying
amount of 4,228 was made. The acquisition value
amounted to 232 and reversal of the revaluation
to fair value amounted to 3,995, also recognized
in other comprehensive income. During 2014
revaluation increased the value by 3,037. Share-
holder’s contribution has been given to Johan-
neberg Science Park AB and Lindholmen Sci-
ence Park AB by 2 (1) and impairment of shares in
Johanneberg Science Park AB and Lindholmen
Science Park AB has been recognized by 3 (–).
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 Penta is 100% (2014:
49% AB Volvo and 51% AB Volvo Penta).
7 AB Volvo’s share of shareholders’ equity in
subsidiaries (including equity in untaxed
reserves) was 103,382 (101,274).
8 In Volvo Group the company is reported as a joint
venture, consolidated according to equity method. 165
GROUP PERFORMANCE 2015 PARENT COMPANY NOTES