Volvo - report on first nine months 2001 - short version

Volvo - nine months ended sep 30, 2001 - short version "The Volvo Group is characterized by measures to adapt its operations to economic conditions, and long-term efforts to create an effective industrial structure. The difficult market conditions resulted in unsatisfactory profitability, but our efforts to improve cash flow showed results and the Group reported positive cash flow during the third quarter. At the same time as we focus on cost efficiencies, we are prioritizing renewal of the product portfolio, and thereby strengthening our market positions", says Leif Johansson, CEO. First nine months 2001 2000 Net sales, SEK M 131 982 87 155 Operating income excluding 2 413 4 998 restructuring costs, SEK M* Operating income, SEK M* (312) 4 998 Income after financial (1 319) 4 859 items, SEK M Net income, SEK M (980) 3 522 Sales growth, % 51 4 Income per share excluding 5.30 11.90 restructuring costs, during most recent 12 months period, SEK Return on shareholders' 2.4 5.4 equity, excluding restructuring costs, % * Volvos operating income during the first nine months 2001 was favorably affected in the amount of SEK 1,458 M attributable to capitalization of development costs. Operating income in the third quarter was adversely affected by a deficit of SEK 472 M in Volvo's Swedish pension foundation. Operating income Third First nine quarte months r SEK M 2001 2000 2001 2000 Global Trucks (340) 53 449 729 Buses (185) 65 (293) 278 Construction Equipment 266 282 755 1 333 Marine and Industrial Power 141 121 530 421 Systems Aero 118 72 564 460 Financial Services 69 220 245 1 348 Other (281) (122) 163 429 Operating income* (212) 691 2 413 4 998 Restructuring costs (1 - (2 - 406) 725) Operating income (1 691 (312) 4 998 618) *Excluding restructuring costs For more information, please see the full report, which is available on www.volvo.com. AB Volvo October 24, 2001 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00110/bit0001.doc http://www.waymaker.net/bitonline/2001/10/24/20011024BIT00110/bit0001.PDF