GOTEBORG, Sweden, Feb. 7, 2003 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY):
2002 2001
Net sales, SEK M 177,080 180,615
Operating income excluding 2,837 3,186
restructuring costs, SEK M
Operating income, SEK M 2,837 (676)
Income after financial items, SEK M 2,013 (1,866)
Net income, SEK M 1,393 (1,467)
Sales growth, % (2) 50
Income per share, SEK 3.30 (3.50)
Return on shareholders' equity, % 1.7 (1.7)
-- Operating income in the fourth quarter of 2002 was SEK 823 M,
compared with an operating loss of SEK 364 M in the year-earlier
period.
-- Lower operating income in Volvo CE due to provisions related to
dealer restructuring in North America and to rationalization of
the production of wheeled excavators.
-- The North American truck business was strengthened during the
fourth quarter through expansion of the dealer and service network,
the closure of the Winnsboro plant and production changeover to the
new Volvo VN truck at the assembly plant in New River Valley.
-- Strong cash flow for the full-year. Cash flow after net investments
amounted to SEK 4.9 billion in the fourth quarter.
-- The Board of Directors proposes that a dividend of SEK 8.00 per
share be paid for 2002.
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