GOTEBORG, Sweden, July 25, 2005 (PRIMEZONE) -- Volvo:
- Net sales in the second quarter 2005 increased by 15% to SEK 61,119 M (53,321)
- Income for the period increased by 40% to SEK 3 930 M (2,809) in the second quarter
- Income per share for the second quarter increased by 45% to SEK 9.67 (6.65)
- The Group's operating margin rose to 8.8% (7.6)
- The operating cash flow amounted to SEK 3.0 bn (5.3), after a transfer to pension plans of SEK 1.9 bn
- Strongest quarter ever for the Volvo Group
Second quarter First six months
2005 2004 2005 2004
Net sales,SEK M 61,119 53,321 113,372 99,170
Operating income,
SEK M (1) 5,350 3,906 9,886 6,262
Revaluation
of shares 123 820
Operating income,
SEK M 5,350 4,029 9,886 7,082
Income after
financial items,
SEK M 5,253 3,909 9,856 6,916
Income for the
period, SEK M 3,930 2,809 7,178 5,236
Income
per share, SEK (1) 9.67 6.36 17.60 10.44
Income per share,
SEK 9.67 6.65 17.60 12.40
Return on shareholders' equity during
most recent 12 month period, % 16.8 4.5
(1) Excluding revaluation of shares in Scania AB and Henlys group.
As of January 1, 2005 AB Volvo complies with International Financial Reporting Standards (IFRS), previously known as IAS, in accordance with the European Union regulation. Figures for the corresponding periods in the previous year have been restated according to IFRS.
In the comments on earnings on pages 1-20, Volvo Financial Services is reported in accordance with the equity method. Reporting in accordance with IAS 1 is provided beginning on page 21.
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