VOLVO - SIX MONTHS ENDED JUNE 30 2003 - SHORT VERSION
"The Volvo Group continued to improve its profitability for the fourth
consecutive quarter compared with the corresponding periods in the
preceding year. Earnings improved despite a drop in sales of ten percent
related to the weakening US dollar. It is also encouraging to note that
the Group generated a positive operating cash flow in the first half of
the year. Synergies from the Truck operations contributed a great deal
to the improvement, as did the new and highly successful product program
of Volvo Trucks and the clearly improved profitability of Renault
Trucks," says Leif Johansson, CEO.
Second quarter First six months
2003 2002 2003 2002
Net sales, SEK M 44 593 49 294 85 524 89 679
Operating income, SEK M 2 242 1 559 3 151 1 197
Income after financial 2 043 1 310 2 800 692
items, SEK M
Net income, SEK M 1 722 1 080 2 228 334
Sales growth, % (9.5) 4.7 (4.6) (1.3)
Income per share, SEK 4.10 2.60 5.30 0.80
Return on shareholders'
equity during most
recent 12 months period, % 4.2 (2.0)
Operating income Second quarter First six months
SEK M 2003 2002 2003 2002
Trucks 1 023 483 1 550 9
Buses (89) 51 (172) (43)
Construction Equipment 425 464 565 333
Volvo Penta 212 225 371 371
Volvo Aero 11 40 5 118
Financial Services 221 120 433 235
Other 439 176 399 174
Operating income 2 242 1 559 3 151 1 197
Q2 R&D Capitalization: Total 189, Trucks 115, Buses 5, Construction
Equipment -7, Volvo Penta 69, Volvo Aero 5, FinancialServices 2
12 months moving order intake for Trucks through June: total -11%,
Europe -13%, North America -19%
For more information, please see the full report, which is available on
www.volvo.com.
AB Volvo, July 23, 2003
AI Summary Disclaimer BETA
The content you are viewing has been generated or assisted by artificial
intelligence (AI). While efforts are made to ensure accuracy and clarity, AI-generated text may
contain inaccuracies, outdated information, or subjective interpretations. This content is intended
for general informational purposes only and should not be considered professional advice or factual
confirmation.
We encourage you to independently verify any information provided,
especially if it will be relied upon for making decisions or taking action. Any reliance you place
on this material is strictly at your own risk. The AI system that produced this content cannot
assess the specifics of individual circumstances, and results may vary based on context and
individual needs.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.
Create an Account
Create your FREE account to receive personalised announcements, watchlists, market updates, investment insights and new features.
Personalise your experience
Tell us a little about yourself to receive personalised content, announcements and relevant investment opportunities.