• Net sales in the first quarter rose to SEK 52,253 M (45,849)
  
  
  
• Income for the period increased to SEK 3,248 M (2,427)
  
  
• Income per share for the first quarter was SEK 7.93 (5.75)
  
  
• The Group’s operating margin rose to 8.7% (5.1*)
  
  
• All business areas reported improved earnings
  

As of January 1, 2005 AB Volvo complies with International Financial Reporting Standards (IFRS), previously known as IAS, in accordance with the European Union regulation.

In the comments on earnings, Volvo Financial Services is reported in accordance with the equity method. Reporting in accordance with IAS 1 is provided in a separate section.