This definitive report on Operations 2003 has been updated to reflect changes in Volvo’s holding in Scania and the effects from a revaluation of the holding in Henlys Group Plc.
- Net sales for the fourth quarter 2003 amounted to SEK 48,733 M (45,877).
- Net loss amounted to SEK 2,886 M (income: 638) in the fourth quarter.
- Income per share for the fourth quarter was a negative SEK 6.90 (income: 1.50). Income per share for the year amounted to SEK 0.70 (3.30).
- Operating income for the fourth quarter included a write-down of shares in Scania AB and Henlys Group Plc amounting to SEK 3,601 M and SEK 429 M respectively.
- Cash flow after net investments excluding Financial Services improved to SEK 7.8 billion (4.9) in the fourth quarter.
- The Board of Directors proposes that a cash dividend of SEK 8.00 per share be paid for 2003. In addition it proposes that 99% of the shares in the wholly owned company, Ainax, be distributed to the shareholders of AB Volvo. The value of the Ainax shares corresponds to a value of SEK 14:40 per Volvo share based on the Scania A closing price of SEK 223:50 at March 12, 2004.
|