Corporate registration number 556012-5790.
Amounts in SEK M unless otherwise specified. Amounts within parentheses refer to preceding year.

AB Volvo is Parent Company of the Volvo Group and its operations comprise the Group’s head office with staff together with some corporate functions.

Income from investments in Group companies includes dividends amounting to 2,719 (8,145) and Group contributions, transfer price adjustments and royalties net of 6,086 (5,126). Dividends include 2,500 from Volvo Construction Equipment NV.

The carrying value of shares and participations in Group companies amounted to 59,460 (59,429), of which 58,934 (58,903) pertained to shares in wholly owned subsidiaries. The corresponding shareholders’ equity in the subsidiaries (including equity in untaxed reserves but excluding minority interests) amounted to 99,139 (90,261).

Shares and participations in non-Group companies included 413 (170) in associated companies that are reported in accordance with the equity method in the consolidated accounts. The portion of shareholders’ equity in associated companies accruing to AB Volvo totaled 413 (322). Shares and participations in non-Group companies include listed shares in Deutz AG with a carrying value of 299, corresponding to the quoted market price at year-end. In 2011 revaluation of the ownership has decreased the value by 159, recognized in equity and included in Other comprehensive income in the income statement.

Financial net debt amounted to 30,665 (30,376).

AB Volvo’s risk capital (shareholders’ equity plus untaxed reserves) amounted to 42,163 corresponding to 55% of total assets. The comparable figure at year-end 2010 was 54%.