AB Volvo – Company Information

0

AB Volvo focuses on producing automobiles, trucks, buses, construction equipment, power systems, and financial services.

Its parent company is Zhejiang Geely Holding Group Co., Ltd. (who bought the company from Ford in 2009).

Its sells automobiles of the following body types: Sedans, Estates/Sportswagons, Cross Country vehicles, SUVs and Convertibles.

Volvo has its the main car production plants in Gothenburg (Sweden) and Ghent (Belgium), in addition to an engine manufacturing site in Skövde (Sweden), a vehicle components facility in Floby (Sweden), and a body components site in Olofström (Sweden).

Volvo first started producing cars in 1927 at its Gothenburg factory. The company’s success began with its “Series 1” truck (the first vehicle to attract attention from outside Sweden). Volvo also manufactured larger vehicles. Its first bus, called the “B1”, was launched in 1934.

In the 40’s Volvo added aircraft engines to their range of products.

Between 1947 and 1965 Volvo produced 440,000 of their “PV444” and “PV544” model cars. The first assembly plant established outside of Sweden was opened in 1963, in Halifax, Canada.

The company’s largest markets are: the United States, Sweden, China, Germany and the UK.

Volvo’s vision is “to be the world’s most progressive and desired premium car brand.”

Overview

AB Volvo Logo


AB Volvo Financial Results, Years Ended December 31

Operating data (in millions of SEK) 2014 2013
Net sales 282,948 272,622
Cost of sales (220,012) (212,504)
Gross income 62,937 60,118
Research and development expenses (16,656) (15,124)
Selling expenses (27,448) (28,506)
Administrative expenses (5,408) (5,862)
Operating income 5,824 7,138
Income after financial items 5,089 4,721
Income taxes (2,854) (919)
Income for the period 2,235 3,802
Common share data (in SEK)
Basic earnings per share 1.03 1.77
Diluted earnings per share 1.03 1.76
Balance sheet data (in millions SEK)
Total assets 382,896 344,829
Total liabilities 136,393 140,316
Total equity 80,048 77,365
Cash flow data (in millions SEK)
Cash provided by operating activities 8,737 11,090
Cash (used in) investing activities (2,314) (4,544)
Cash (used in) financing activities (1,769) 2,221
Cash and cash equivalents at beginning of year 26,968 25,207
Cash and cash equivalents at end of year 26,242 26,968

Source: “AB Volvo Annual Report 2014”


You might also like More from author