Volvo - Report on 2001 operations - short version

VOLVO - REPORT ON 2001 OPERATIONS - SHORT VERSION "The negative economic trends were reflected in the Group's operating results, which were unsatisfactory throughout the entire year. The fourth quarter results continued the trend from previous quarters, however the integration of the truck companies had a positive effect on earnings. The continued focus on cash flow was successful, and we were able to deliver positive cash flow for the full year, particulary during the last quarter. Despite the difficult economic conditions, the year was characterized by extensive product renewal. The simultaneous launch during the fourth quarter of Volvo Truck's new FH and FM series, was the largest-ever product introduction", says Leif Johansson, CEO. 2001 2000 Net sales, SEK M 180 615 120 392 Operating income excluding 3 186 6 668 restructuring costs, SEK M* 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 3.10 11.20 restructuring costs, during most recent 12 months period, SEK Return on shareholders' equity, 1.5 5.0 excluding restructuring costs, % * Volvos operating income during 2001 was favorably affected in the amount of SEK 2,038 M attributable to capitalization of development costs. Operating income Fourth quarter Year (loss) SEK M 2001 2000 2001 2000 Global Trucks 591 685 1 040 1 414 Buses (231) 162 (524) 440 Construction Equipment 136 261 891 1 594 Volvo Penta 128 63 658 484 Volvo Aero 89 161 653 621 Financial Services 80 151 325 1 499 Other (20) 187 143 616 Operating income* 773 1 670 3 186 6 668 Restructuring costs (1 137) - (3 862) - Operating income (364) 1 670 (676) 6 668 (loss) *excl restructuring costs Restructuring cost in fourth quarter: · Global Trucks SEK 507 M · Construction Equipment SEK 280 M · Buses SEK 350 M For more information, please see the full report, which is available on www.volvo.com. AB Volvo February 8, 2002 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/08/20020207BIT01360/bit0001.doc http://www.waymaker.net/bitonline/2002/02/08/20020207BIT01360/bit0001.pdf