Economic performance and outlook

The Volvo Group’s financial performance for the year ending 31 December 2013 was marked by the most extensive product re­­newal in the Group’s history.

2013 performance

The following information has been extracted from the Volvo Group Annual Report 2013. It is intended as a topline overview of
key financial performance indicators. Full financial data can be found in the Volvo Group Annual Report 2013.

Group net sales

Net sales for the Volvo Group declined by nine percent to SEK 272.6 bn in 2013, compared to SEK 299.8 bn in 2012.

Investment and expenditure

2013 investments in property, plant and equipment amounted to SEK 8.5 billion, compared with SEK 9.5 billion in 2012. Major investments related to new product programs, development costs and production facilities.

Shared economic value

The Volvo Group is dependent on many stakeholders to develop its competitiveness. Similarly, a great number of stakeholders – suppliers, employees, governments, financial institutions and shareholders – are dependent on the value that the Group creates and shares with them.

Taxation

In accordance with the Group’s Code of Conduct, the Volvo Group shall comply with the tax laws and regulations of each country in which it operates. Where tax laws do not give clear guidance, prudence and transparency shall be the guiding principles. The Volvo Group does not take part in aggressive tax planning by placing subsidiaries in tax havens.

In the period 2009–2012, SEK 11 billion or 79 percent of the Volvo Group’s current taxes were paid in emerging market countries, as defined by the IMF. In 2013 approximately SEK 2.2 billion or 70 percent of the current taxes were paid in emerging market countries.

The Volvo Group continued to be ranked among the world's top 300 companies in 2013 and qualifies, once again, for the Dow Jones Sustainability World Index.