Annual Report 2001
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Contents Annual Report 2001 Annual General Meeting, April 24 The Annual General Meeting of AB Volvo will be held in Göteborg in Lisebergs- hallen (entrance from Örgrytevägen) on Wednesday, April 24, 2002, at 2:00 p.m. Directions and strategies Board of Director’s report 36 Buses Volvo Buses has renewed its Notice 2 Business structure 14 The year 2001 entire product range in less Volvo is one of the world’s leading manufactu- The acquisition of Renault Trucks and Mack Shareholders who wish to participate must: than four years. Most of the rers of heavy commercial vehicles and diesel Trucks is a radical change, a milestone in the new models are based on TX, be recorded in the share register maintained by VPC AB (Swedish Central engines. The Group is organized in eight busi- development of the Group. the company´s product platform for intercity Securities Depository) not later than April 12, 2002 ness areas: Volvo, Renault and Mack Trucks, buses and tourist coaches. Buses, Construction Equipment, Volvo Penta, 16 Financial performance give notice of intention to attend not later than 12:00 noon, Thursday, April 18, 2002 Volvo Aero and Financial Services. 39 Construction Equipment 19 Financial position A number of new products • by telephone, +46 31 66 00 00 beginning March 22 4 Comments by the Chief • by mail addressed to AB Volvo (publ), Legal Department, SE-405 08 Göteborg, 20 Cash flow statement were successfully launched in Executive Officer 2001, including new articulat- Sweden Large structural changes, 22 Volvo in society ed haulers, a new wheel loader Vo business cycle management • by e-mail [email protected] Volvo has a history of corpo- and a completely new range of backhoe loa- and extensive product renewal lvo Annual Report 2001 Annual lvo www.volvo.com rate citizenship based on its ders. When giving notice, shareholders should state their: dominated the Volvo Group´s three core values: Quality, activities during 2001. 42 Volvo Penta • name Safety and care for the Volvo Penta has extended its • personal number (registration number) Environment. product range in all business • address and telephone number 6 Strategy and Business segments through a number environment 24 Customers of successful introductions Shareholders whose shares are held in the trust department of a bank or by Volvo’s vision is to be valued By creating value for our customers we create during the past years. a brokerage firm should request that the shares be temporarily reregistered in the as the world’s leading provider value for our shareholders. shareholder’s name several banking days prior to April 12, 2002. of commercial transport solu- 45 Volvo Aero tions. During 2001, Volvo Aero sig- April 29 has been proposed as the record date for payment of dividends, which 26 Employees Competence is a key success factor in today’s ned important agreements are expected to be distributed on May 3. business, the competence of our employees is with Rolls-Royce, American the competence of Volvo. Airlines, the Swedish Space Volvo’s Nomination Committee 12 The Volvo share Corporation and Pratt & Whitney. The shareholder dialogue is of high importance, 28 Clean and safe products The following persons were named members of Volvo’s Nomination Committee and the internet is an important two-way com- 48 Financial Services at the 2001 Annual General Meeting: munication tool which makes it possible to 30 Environmental management Financial services are a signifi- obtain fast and relevant information. cant part of Volvo’s strategy Thomas Halvorsen The National Pension Insurance 30 Production and environment for becoming the world’s lea- Fund, Fourth Fund Managing board Volvo has production sites on ding provider of transport all continents. All production solutions. Lars Ramqvist Chairman of the Board of AB Volvo plants must comply with Volvo’s Bengt Hane Representative for shareholders with smaller holdings minimum requirements on 50 Group Management environmental performance, Shemaya Lévy Renault SA 52 Board of Directors and Auditors regardless of location and size. Lars Otterbeck Alecta 31 Financial risk management The Nomination Committee is responsible for submitting to the Annual General Financial information Meeting the names of candidates to serve as members of the Board of Directors 32 Global Trucks 54 Consolidated income statements and as auditors and deputy auditors. The Committee also proposes the amount The Volvo Group’s purchase of Mack Trucks and Renault 55 Consolidated balance sheets of the fees to be paid to the holders of these positions. Trucks in 2001 created Europe’s largest and the worl- 56 Consolidated cash flow statements Publication dates d’s second largest producer of heavy trucks with a broad 57 Notes to consolidated financial Volvo Annual Report 2001 March 22, 2002 product program. statements Form 20-F US GAAP 2001 April, 2002 86 Parent Company AB Volvo Three months ended March 31, 2002 April 22, 2002 97 Proposed disposition of Six months ended June 30, 2002 July 23, 2002 unappropriated earnings Nine months ended September 30, 2002 October 24, 2002 98 Auditors’ report for AB Volvo Report on 2002 operations February, 2003 99 Eleven-year summary Annual Report 2002 March, 2003 Production sites The reports shown in boldface type are available on www.volvo.com on date of publication Definitions and Reader’s guide and are also sent directly to all shareholders who have advised Volvo that they wish to receive Group financial information. Annual General Meeting, Volvo’s The above information can also be ordered from Celero Support AB, DDC, Dept 63356 Nomination ARUN, SE-405 08 Göteborg, Sweden. Telephone: +46 31-66 10 47. Committee and Telefax: +46 31-66 20 20. E-mail: [email protected] Publication dates Historical and current time series reflecting the Volvo Group’s financial development, market information and share data are published regularly on www.volvo.com AB Volvo (publ) SE-405 08 Göteborg, Sweden Telephone +46-31 66 00 00 Investor Relations, 635-2604 AB Volvo, Contents Annual Report 2001 Annual General Meeting, April 24 The Annual General Meeting of AB Volvo will be held in Göteborg in Lisebergs- hallen (entrance from Örgrytevägen) on Wednesday, April 24, 2002, at 2:00 p.m. Directions and strategies Board of Director’s report 36 Buses Volvo Buses has renewed its Notice 2 Business structure 14 The year 2001 entire product range in less Volvo is one of the world’s leading manufactu- The acquisition of Renault Trucks and Mack Shareholders who wish to participate must: than four years. Most of the rers of heavy commercial vehicles and diesel Trucks is a radical change, a milestone in the new models are based on TX, be recorded in the share register maintained by VPC AB (Swedish Central engines. The Group is organized in eight busi- development of the Group. the company´s product platform for intercity Securities Depository) not later than April 12, 2002 ness areas: Volvo, Renault and Mack Trucks, buses and tourist coaches. Buses, Construction Equipment, Volvo Penta, 16 Financial performance give notice of intention to attend not later than 12:00 noon, Thursday, April 18, 2002 Volvo Aero and Financial Services. 39 Construction Equipment 19 Financial position A number of new products • by telephone, +46 31 66 00 00 beginning March 22 4 Comments by the Chief • by mail addressed to AB Volvo (publ), Legal Department, SE-405 08 Göteborg, 20 Cash flow statement were successfully launched in Executive Officer 2001, including new articulat- Sweden Large structural changes, 22 Volvo in society ed haulers, a new wheel loader Vo business cycle management • by e-mail [email protected] Volvo has a history of corpo- and a completely new range of backhoe loa- and extensive product renewal lvo Annual Report 2001 Annual lvo www.volvo.com rate citizenship based on its ders. When giving notice, shareholders should state their: dominated the Volvo Group´s three core values: Quality, activities during 2001. 42 Volvo Penta • name Safety and care for the Volvo Penta has extended its • personal number (registration number) Environment. product range in all business • address and telephone number 6 Strategy and Business segments through a number environment 24 Customers of successful introductions Shareholders whose shares are held in the trust department of a bank or by Volvo’s vision is to be valued By creating value for our customers we create during the past years. a brokerage firm should request that the shares be temporarily reregistered in the as the world’s leading provider value for our shareholders. shareholder’s name several banking days prior to April 12, 2002. of commercial transport solu- 45 Volvo Aero tions. During 2001, Volvo Aero sig- April 29 has been proposed as the record date for payment of dividends, which 26 Employees Competence is a key success factor in today’s ned important agreements are expected to be distributed on May 3. business, the competence of our employees is with Rolls-Royce, American the competence of Volvo. Airlines, the Swedish Space Volvo’s Nomination Committee 12 The Volvo share Corporation and Pratt & Whitney. The shareholder dialogue is of high importance, 28 Clean and safe products The following persons were named members of Volvo’s Nomination Committee and the internet is an important two-way com- 48 Financial Services at the 2001 Annual General Meeting: munication tool which makes it possible to 30 Environmental management Financial services are a signifi- obtain fast and relevant information. cant part of Volvo’s strategy Thomas Halvorsen The National Pension Insurance 30 Production and environment for becoming the world’s lea- Fund, Fourth Fund Managing board Volvo has production sites on ding provider of transport all continents. All production solutions. Lars Ramqvist Chairman of the Board of AB Volvo plants must comply with Volvo’s Bengt Hane Representative for shareholders with smaller holdings minimum requirements on 50 Group Management environmental performance, Shemaya Lévy Renault SA 52 Board of Directors and Auditors regardless of location and size.