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
- President and CEO: Olof Persson
- Industry: Automotive
- Type: Publicly traded Aktiebolag
- Parent: Zhejiang Geely Holding Group Co., Ltd
- Listed on OMX
- OMX stock symbol: VOLV B
- Revenue: SEK 282.948 billion (2014)
- Net income: SEK 2,235 million (2014)
- Company head office: Gothenburg, Sweden
- Employees: 92,822 (2014)
- Investor relations contact: Nils Mösko (+46-31-592255) ([email protected])
- Website: http://www.volvogroup.com/
- Company subsidiaries: Volvo Construction Equipment, Renault Trucks, UD Trucks, Volvo Buses, Volvo Trucks, Volvo Penta, and Mack Trucks.
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”