GOTEBORG, Sweden, April 25, 2005 (PRIMEZONE) -- Volvo:
- Net sales in the first quarter rose to SEK 52,253 M (45,849)
- Income for the period increased to SEK 3,248 M (2,427)
- Income per share for the first quarter was SEK 7.93 (5.75)
- The Group's operating margin rose to 8.7% (5.1*)
- All business areas reported improved earnings
First three months 2005 2004 Net sales, SEK M 52,253 45,849 Operating income, SEK M* 4,536 2,356 Revaluation of shares - 697 Operating income, SEK M 4,536 3,053 Income after financial items, SEK M 4,603 3,007 Income for the period, SEK M 3,248 2,427 Income per share, SEK* 7.93 4.09 Income per share, SEK 7.93 5.75 Return on shareholders' equity during most recent 12 month period, % 15.2 13.9
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.
In the comments on earnings on pages 1-19, Volvo Financial Services is reported in accordance with the equity method. Reporting in accordance with IAS 1 is provided beginning on page 20.
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