Financial information Parent Company AB Volvo

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Board of Directors' report

Corporate registration number 556012-5790.
Amounts in SEK M unless otherwise specified. Amounts within parentheses refer to preceding year, 2012.

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

Income from investments in Group companies include dividends amounting to 1,689 (920) and transfer price adjustments and royalties amounting to an expense of 1,128 (524). Dividend received from Volvo Financial Services AB amounted to 1,080 and dividend received from Volvo China Investment Co Ltd amounted to 312.

During the year subscription in Volvo Group Japan Co has been made by 3,392 after which the holding was written down by 843. Shareholders' contribution has been given to Volvo Information Technology AB by 600 and to VNA Holding Inc by 787, the latter in form of total shares in Prévost Car (US) Inc.

The carrying value of shares and participations in Group companies amounted to 60,763 (56,832), of which 59,870 (55,940) 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 101,937 (100,326).

Investments in joint ventures and associated companies included 2,819 (1,752) in joint ventures and associated companies that are recognized in accordance with the equity method in the consolidated accounts. The portion of shareholders’ equity in joint ventures and associated companies pertaining to AB Volvo amounted to 3,038 (1,419).

Financial net debt amounted to 33,685 (27,042).

AB Volvo’s risk capital (shareholders’ equity plus untaxed reserves) amounted to 34,589 (41,241) corresponding to 45% (54%) of total assets.