GOTEBORG, Sweden, Oct. 23, 2003 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY)(Other OTC:VOLVF) (Other OTC:VOLAFK):
Third quarter First nine months
2003 2002 2003 2002
Net sales, SEK M 40 511 41 524 126 035 131 203
Operating income, SEK M 1 617 817 4 768 2 014
Income after financial 1 298 584 4 098 1 276
items, SEK M
Net income, SEK M 956 421 3 184 755
Sales growth, % (2.4) 0.9 (3.9) (0.6)
Income per share, SEK 2.30 1.00 7.60 1.80
Return on shareholders' equity during most 5.0 0.3
recent 12 months period, %
-- The new Volvo NH and Volvo VM trucks have been introduced in South
America. In addition, Volvo Penta launched a completely new
product offering for leisure boats.
-- Net sales for the third quarter 2003 amounted to SEK 40,511 M (41,524).
-- Strong improvement in truck operations due to improved results in
North America and a favorable earnings trend in Europe within
both Renault Trucks and Volvo Trucks.
-- Net income increased to SEK 956 M (421) in the third quarter.
-- Income per share for the third quarter amounted to SEK 2.30 (1.00).
Income per share for the most recent 12-month period was SEK 9.10.
-- Cash flow after net investments excluding Financial Services was
negative in an amount of SEK 0.8 billion in the third quarter
(negative: 0.9).
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