GOTEBORG, Sweden, Feb. 8, 2002 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY):
2001 2000
Net sales, SEK M 180 615 120 392
Operating income excluding
restructuring costs, SEK M* 3 186 6 668
Operating income, SEK M* (676) 6 668
Income after financial items, SEK M* (1 866) 6 246
Net income, SEK M (1 467) 4 709
Sales growth, % 50 3
Income per share excluding
restructuring costs, during most
recent 12 months period, SEK 3.10 11.20
Return on shareholders' equity,
excluding restructuring costs, % 1.5 5.0
* Volvos operating income during 2001 was favorably affected in the
amount of SEK 2,038 M attributable to capitalization of
development costs. See "Accounting principles", on page 22.
-- Extensive product renewal during the year. During the fourth
quarter the Volvo FH and Volvo FM heavy trucks were launched as
well as a significant extension of the future product offering
within compact construction equipment.
-- Operating income in the fourth quarter, excluding restructuring
costs, was SEK 773 M (1,670). The integration of the truck
companies contributed positively to earnings in the fourth
quarter. The result remained weak within Volvo Buses.
-- Strong cash flow in the fourth quarter. Positive cash flow for the
year.
-- The ongoing adaptation to changing market conditions continues,
more than 5,700 employees and 1,400 temporary employees and
consultants left the Company during 2001.
-- The Board of Directors proposes that a dividend of SEK 8.00 per
share be paid for 2001.
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