Update on the Volvo Group’s financial reporting 2020
In accordance with accounting standard IFRS 5, the UD Trucks global business was on December 31, 2019 reclassified as assets and liabilities held for sale. As a consequence, depreciation of these tangible and intangible assets will cease, impacting the Volvo Group’s operating income positively by approximately SEK 0.9 billion on an annual basis. The Group’s cash flow will not be affected. Also, as of January 1, 2020 a reclassification in the income statement has been made for certain costs related to commercial customer commitments, with no impact on the Volvo Group’s operating income.As a