Information  X 
Enter a valid email address

Volvo AB (VOL)

  Print   

Monday 22 April, 2002

Volvo AB

Statement re. Press Comment



VOLVO - REPORT ON THREE FIRST MONTHS 2002 - SHORT VERSION
"The first three months were also characterized by intensive efforts  to
phase in the new products that were launched in the second half of 2001.
This   particularly  applied  to  Volvo  Trucks,  which   is   currently
implementing  the  most  extensive model replacement  program  ever.  As
previously  announced, this replacement resulted in  extensive  ramp  up
activities in both production and for our suppliers. The most  intensive
part  of  the replacement process is over and production will  start  to
catch  up with orders in the second quarter.  The strong demand for  the
trucks  is  of course a very positive sign, even if it has not  improved
earnings  yet.  Volvo  CE  is also going through  an  important  product
replacement phase, as the new generation of wheel loaders and excavators
are  set in production. The extended range of compact equipment has been
very  well  received.  Volvo CE's order intake  increased  significantly
during  the  first  quarter.  Volvo Aero's sales  and  operating  income
dropped,  mainly  depending  on the effects  from  September  11,  which
started to affect aerospace services during the first quarter. September
11,  has also affected Volvo Buses with lower demand for coaches",  says
Leif Johansson, CEO.
                                                  2002    2001
                                                              
Net sales, SEK M                                40 385  43 750
Operating income (loss) excluding                (362)     502
restructuring costs, SEK M
Operating income (loss), SEK M                   (362)   (817)
Income (loss) after financial                    (618) (1 251)
items, SEK M
Net income (loss), SEK M                         (746)   (801)
Sales growth, %                                    (8)      55
Income (loss) per share during most             (3.40)    6.40
recent 12 months period, SEK
Return on shareholders'                          (1.6)     2.9
equity, %
Operating income                   First three     12-   Jan 
                              months            month     Dec
SEK M                             2002    2001 rolling    2001
                                                values
Trucks                           (474)     150     416   1 040
Buses                             (94)    (83)   (535)   (524)
Construction                     (131)      81     679     891
Equipment
Volvo Penta                        146     167     637     658
Volvo Aero                          78     160     571     653
Financial                          115     113     327     325
Services
Other                              (2)    (86)     227     143
Operating income (loss)          (362)     502   2 322   3 186
(1 (2
Restructuring                        0 (1 319) (2 543) (3 862)
costs
Operating income (loss)          (362)   (817)   (221)   (676)
1 excluding restructuring costs
2 including SEK 181 M negative effect from Volvo Pension
foundation
For more information, please see the full report, which is available on
www.volvo.com.
AB Volvo
April 22, 2002
------------------------------------------------------------
This information was brought to you by Waymaker  


http://www.waymaker.net
The following files are available for download:



http://www.waymaker.net/bitonline/2002/04/22/20020422BIT00010/wkr0001.doc 



http://www.waymaker.net/bitonline/2002/04/22/20020422BIT00010/wkr0002.pdf 


                                                                        

a d v e r t i s e m e n t