v-oLv-o Financial
and operating
statistics 1972
Volvo in brief
The Volvo Group of Campanies develops, produces and m arkets products and services for transport purposes. The Group manufactures more than 100 products in the field of transport and these are sold on more than 1 00 dif- ferent markets throughout the world.
The Volvo Group of Campanies consists of the Parent Company, AB Volvo. and subsidiarycompanies. The P a rent Company is mainly engaged in the automotive business, Volvo Penta manufactures marine and industrial engines, Volvo BM produces construction, agricultural and farestry machinery while Volvo Flygmotor produces turbojet en- gines.
The automotive business is the most important from the viewpoints of total sales and export.
History
Volvo commenced business as a wholly-owned subsidiary of AB Svenska Kullagerfabriken ("SKF") in 1926 with a share capita! of Skr 200,000. The first Volvo ear left the assembly Iine on April 14, 1927. Volvo ceased to be a subsidiary of SKF in 1935.
In 1931 Volvo purchased AB Volvo, Skövde Plants which manufactured the engines for Volvo cars and thereby took the first step in developing from an assembly to a manufacturing company. In 1941 Volvo acquired 62.5 per cent. of the share capital of Volvo Flygmotor AB.
a manufacturer of aircraft engines, and bought the re- maining sh a res in 1968. AB Volvo, Köping Plants, a manu- facturer of gearboxes and axles, and Volvo BM AB, a manufacturer of construction, agricultural and farestry machinery, were acquired in 1942 and 1950 respectively.
In 1969 Volvo acquired for a cash consideration of Skr 140 million AB Volvo, Olofström Plants, a metat pressings manufacturer.
Size
In the list of the targest earparatians outside the USA.
Volvo ranked as company number 71 in 1972. Sales amounted in 1971 to Skr 6,1 04 million, in 197 2 to Skr 7,346 million.
Shareholders
Volvo has about 99,000 shareholders. Volvoshares have been Iisted on The Stockholm Stock Exchange since 1935 and on The London Stock Exchange, since 1972.
Cars
AB Volvosold 232,172 carsduring 1972,ofwhich 79.0%
were sold outside Sweden. Of the total number of cars produced in 1972, the 140 series accounted for 88%, the 164 series for 1 O% and the 1 800 series for the remaining 2%.
The first of the present Volvo 140 series of cars, the Volvo 144, was introduced in 1966 as a four-door, five- seater model. A two-door modet, the Volvo 142, which
is Sweden's best selling ear, and the Volvo 145 station wagon, were introduced in 1 967. The 144 and the 145 are also sold in several special versions including taxis, ambulances and police cars. A range of four-cylinder engines, varying from 90 to 1 35 b.h.p. is available for the
140 series. Th,e productian Iine for this series represents the Group' s largest single investment in plant.
The first of the Volvo
t
60 series, a four-door sedan, was produced in 1968 with a three-litre six-cylinder engine. In 1'971 the Volvo 164E was introduced with electronically controlied fuel injection, raising the rating of the engine to 175 b.h.p.The first of the Volvo 1800 series, a two-door GT model, was produced in 1961. In 1970 an electronically con- trolied fuel injection engine of 135 b.h.p. was introduced and in 1971 the 1800ES, featuring an eXtended slant- back profile, came into production.
Trucks
During 1972 AB Volvo sold 16,822 trucks, of which approximately 80% were sold outside Sweden.
The Group, which is one of Europe' s leading heavy truck manufacturers, se!ls a wide range of trucks; the medium 82 and 83 series forshort-distance deliveries, the medium- heavy 84,85 and 86 series and the heavy 88 and 89 series for long-distance haulage and heavy duty transportation.
The 89 series was introduced in 1970 and its latest features included a new turbo-charged engine.
Buses
Du ring 1972,AB Volvosold 1,554 unitsofwhich approxi- mately 82 % were sold outside Sweden.
Volvo manufactures three basic chassis for buses, the B57, the 858 and the 859, which are supplied in a large number of versions. Since requirements vary in different markets, Volvo relies on local suppliers for its bus bodies.
The range of chassis are suitable for most types of service as country buses, suburban buses and lang-range coaches.
In 1971 Volvo also introduced a new city bus chassis, the B 59. In its design particular attention has been paid to environmental considerations such as exhaust and noise leve l.
Marine and industrial engines
The Volvo Penta division is one of the world's rargest manufacturers of marine inboard engines for small craft and is also a manufacturer of industrial engines. Volvo Penta was first in the world to successfully market an inboard engine with an outboard drive-the Aquamatic.
Volvo Penta marine inboard engines are used in many different types of craft, including ferry, cargo, fishing and leisure boats. Part of the productian of Volvo Penta consists of industrial engines for excavating machines, dumpers, road graders and tork lift trucks. Dieselengines for generatorsetsand power u nits for irrigation purposes are also manufactured. Sales outside Sweden amounted to 83 % of turnover.
Cons·truction. agricultural and forestry machinery
Volvo BM AB is Scandinavia's leading manufacturer of construction, agricultural and farestry machinery.ln 1972 construction machinery represented approximately half of total sales and agricultural machinery samewhat more
than a third. In that year Volvo BM AB had alargershare of the European market for this type of loader than any of its competitors. The products are marketed in over sixtycountries throughoutthe wo u l d and in 197 2 approxi- mately 50% of Volvo BM AB sales were in export m arkets.
Aircraft engines
Volvo Flygmotor AB is the only producer in Sweden of turbojet engines. Engines now in productian are the RM8 for the 37 "Viggen" aircraft for the Swedish Air Force and the RM6C for the export version of the 35 "Draken"
aircraft. Volvo Flygmotor is also engaged in research and development of turbojet and racket engines and carries out overhauls and repairs of turbojet engines for military and commercial aircraft. The company also manufactures several products for the commercial market, including steering gears for Volvo cars and hydraulic equipment, items which are becoming increasingly more significant.
Other products
The significant item s under this heading are sales of tools to other manufacturers, sales of components for armoured vehicles and income from the motor insurance subsidiary inSweden.
Sales organization
The Group has established a world-wide network in mo re than 100 countries and has distribution cam- panies in Sweden, Danmark, Finland, Norway, the United l<ingdom, West Germany, Switzerland, Belgium, France, ltaly, the United States of America, Canada, Argentina, Peru and Australia. Within Seandinavia Volvo, through its wholly-owned subsidiary, AB Volvator, owns or has interests in a number of retail sales companies.
Production facilities
The Group's principal productian facilities are located in Sweden, where Volvo has 20 factories, including assembly factorias for cars, trucks, buses, marine and industrial engines, tractors and turbojetengines as weil as factories for productian of the most vital components in the Volvo products such as engines, gearboxes, axles, brakes and bodies.
Volvo has also established wholly-owned assembly plants in Belgium, Canada and Peru, and partly-owned plants in Iran, Malaysia and Australia. An assembly plant for cars is under construction in lndonesia.
In ca-operation with Renault and Peugeot a factory is being built near Lille in France for the manufacture of ear engines.
Research and Development
Volvo places great emphasis on the quality, durability and safety of its products and maintains an extensive and continuous research programme.
The Group has, in recent years, spent between 5 and 1 O % of its gross sales revenue on research, development and tooling and has recently completed an advanced technical research centre in Gothenburg at a east of Skr 220 million. A bo ut 1,200 people are employed full time in this centre.
Volvo is participating in two major joint development projects. The Company has entered inta a joint venture with Renault and Peugeot for the development and manu- facture of ear engines. Volvo has a one-third share in this project. In 1971 Volvo, DAF, Klöckner-Humboldt-Deutz and SAVIEM, each subscribed for 25% of a joint company w h ich is developing components for light trucks.
The major proportion of research and development expend- iture is incurred in the field of vehicle production, but research and development programmes have also been institutedin other areas of production.
DAF
Towards the end of last year, Volvo acquired 33% of the shares in Van Doorne's Personenautofabriek DAF B.V.
This provides Volvo with access to small ear technology and creates the possibility of ca-operation and ca-ordina- tion in the ear field, concerning both productian and marketing.
Board
The Board is elected annually by shareholders at the Ordinary General Meeting of Volvo. The Board appoints the Managing Director, who is responsible to the Board for the activities of the Group, and nominates the other members of the Group Management Committee to assist h im.
All the Diractors and Deputy Directors, with the exception of Mr. Pehr G. Gyllenhammar, Mr. Per Ekström and Mr.
Bengt Darnfors, are non-executive.
Management
There are five members of the Group Management Com- mittee. Mr. Pehr G. Gyllenhammar, aged 38, joined Volvo in December, 1970 and became Managing Director in May, 1971. Mr. Per Ekström, aged 58, who joined the Group in 1 934 is First Deputy Managing Director and primarily responsible for financial attairs. Mr. Bengt Dan- fors, aged 56, who joined the Group in 1953 is Second Deputy Managing Director and primarily responsible for manufacturing. The other members of theGroup Manage- ment Committee, Mr. Robert Dethorey, aged '42 and Mr.
Gunnar L. Johansson, aged 45, joined the Group in 1 958 and 1955 respectively.
The basic principle of organisation of the Group is that of decentralised responsibility. Each product division and marketing unit forms a profit centre. In ordtlr to select and train the personneJ needed Volvo maintains an exec- utive training programme, in addition to regular statt training schemes.
Employees
The Group has 44,800 employees of which 37,700 are employed in Sweden.
The Group's strike record is good. With the exception of the general strike called by the Swedish Meta! Workers' Union in 1945, there have been no major strikes in the Group's history. Volvo has, however, experienced ditti- culties in recruiting the necessary skilled labour for the plants in Sweden, particularly in the Gothenburg area, and has come to rely on an increasing number of foreign workers.
Board of directors
Directors
Mr. Gunnar Engellau, (Chairman and former Managing Di rector of Volvo).
Dicksonsgatan 6, S-41 2 56 Göteborg, Sweden, (Doctor of Technology HCJ_
Mr. Per Carlsson, (Deputy Chairman), Ekebo, S-430 80 Hovås, Sweden, (Chairman, Rederi AB Transatfantic).
Mr. Ulf af Trolle,
Trappstigen 3, S-436 00 As kim, Sweden, {Doctor of Economics). /
Mr. Tore Browaldh,
Skeppargatan 66, S-114 59 Stockholm, Sweden,
( Doctor of Technofogy HC and Chairman, Svenska Handelsbanken}.
Mr. Sigurd Ljungcrantz.
långåsliden 16, S-412 70 Göteborg, Sweden, {Managing Director, Coronaverken AB).
Mr. Pehr G. Gyllenhammar, (Managing Director), Fredrika Bremarsgatan 5, S-412 66 Göteborg, Sweden.
Mr. Per Ekström, (First Deputy Managing Director), Torild Wulffsgatan 18, S-413 19 Göteborg, Sweden.
Mr. Gunnar Eriksson, (Employees' Representative), Postlåda 5000, B rattås Torred, S-430 41 Kullavi k, Sweden.
Mr. Gert Gunnarsson, (Employees' Representative), Klåveskärsgatan 16, S-421 59 Västra Frölunda, Sweden.
Mr. Lennart Johansson,
Götabergsgatan 34, S-411 34 Göteborg, Sweden, (Managing Director, AB SKF).
Deputy directors
Mr. Leif Magnus,
Tranegårdsvej 98, Hellerup, Denmark,
{Managing Director, Dansk Kug/eleje Aktiesefskab SKF).
Mr. Bengt Darnfors, (Second Deputy Managing Director), T roilåsvägen 8, S-436 00 Askim, Sweden.
Mr. Ulf Laurin,
Caprigatan 5, S-217 53 Malmö, Sweden, {Managing Director, AB Pf<Jtmanufaktur).
All the Directors and Deputy Directors are Swedish.
3
Financial statistics
Sales by product (In millions of Skr)
Passenger cars Trucks and buses
Marine and industrial engines
Construction, agricultural and forestry machinery Aircraft engines etc
Other products (development contracts, tools etc) Total
Sales by m arkets (In millions of Skr)
Sweden
Seandinavia {excluding Sweden), Finland and leeland Europe (exctuding countries above)
North America Other markets Total
1972 2,209 1,042 2,055 1.405 635 7,346
1972 4,332 1,508 335 819 255 97 7,346
1971 3,640 1,188 256 745 189 86 6,104
1971 1,923
947 1.487 1,271
476 6,104
1970 3,127 1,037 202 680 117 161 5,324
1970 1,856 850 1 '150 1,079 389 5,324
1969 2,516 914 177 583 132 78 4.400
1969 1,736 739 822 769 334 4.400
Consolidated Profitand LossAccounts for 1968-1972 (In millions of Skr)
1972
Sales
Less: C ost of sales, sell i ng a n d ad mi n istrat iv e expe n ses
Less: Provision for depreciation Operating income
Add: Interest received less paid Dividends received Profit on sa le of shares Other income/{ expenses) Profit before allocations and taxes Less: Allocation to/(reallocation from):
Extra depreciation l nvestment funds
.General inventory reserve
Reserve against east of investments
Profit after allocations Less: Provision for taxes
Minority interests
Net income
Profit and loss ratios:
l nerease in sales from preceding year in percent. Operating income as a percentaga of sales
21 212 102 20
228 1
Profit before allocations and taxes as a percentaga of sales A.djusted profit in Skr pershare ")
7,346 6,383 963 237 726 36
2
(6) 758
355 403
229 174
1972 20.4
9.9 10.3 29:10
39 89 85 10
113 1971
6,104 5.499 605 166 439 19 1
4 463
12 37 167
1970
5,324 4,765 559 131 428
37 1
_____lZl 459
1969
(23) 174 57 11
4.400 3,789 611 124 487 56 1 12
~ 553
(16) 167
22
11968
3,865 3,344 521
94 427 43 1
472
223
- - - - - -
216 219 174240 243 334 298
112 166 167
113 - -~ - -~ - - ____!§_Z
127 131 168 131
1971 14.7
7.2 7.6 22:60
1970 21.0
8.0 8.6 22:40
1969 13.9 11.1 12.6 27:-
1968 13.3 11.0 12.2 23:-
") Adjusted profit is defined as income betare allocations and taxes reduced by a tax tiability of 53%. Prior to 1972 this percentaga was 50. The profit pershare for 1968-1969 has been computed on the number of shares outstanding after the 1970 bonus issue.
Statement of funds- Consolidated
Source of funds 1972 1971 1970 1969 1968
N et income
174 127 131 168 131
Add non-cash charges:
Depreciation etc.
294 217 142 125 87
Allocation to general inventory reserve
102 85 167 57 22
Allocation to investment funds
212 89 37 174 167
Total
782 518 477 524 407
Less dividends eaid
41 41 41 37 31
Providing internally generatad funds of
741 477 436 487 37e
l nerease of s hare capita l by issue of new s hares
1 51
l nerease of long-term liabilities
241 246 55 57 18
l nerease of current liabilities
359 700 130 436 179
Total sources of funds
1.492 1.423 621
l980 573
Application of funds
Additions to inventories and receivables
415 440 497 499 68
Providing funds before investment of
1,077 983 124 481 505
l nvestment in:
Property, plant and equipment-partly
through acquisitions
657 637 478 407 162
Shares and toans
91
45 5 3
lncreases (decreases) in blocked investment
account with The Central Bank of Sweden
12 (36) 21 (2) 22
Total investments
760 605 504 410 187.
Cash and short-term notes have increased
(decreased) by
317 378 (380) 71 318
The rate of self-financing may be expressed as:
lnternally generatad funds
x 100 = 98% 79% 87%
119%201%
Total investments
Assets, liabilities and equity at yearend (In millions of Skr)
1972 1971 1970 1969 1S68
Cash and bank accounts
205 136 92 89 152
Loans and short-term notes
1,093 844
511894 760
Accounts receivable
1.481 1,223
1,011928 684
lnventories
2,014 4,793 1,857 4,060 1,628 3,242 1,204 3,115 950 2,546
Blocked investment accounts withThe Central Bank of Sweden
32 20 57 36 38
Long-term toans
13
Shares and participations
88 27 34
1624
Property, plant and equipment
2,225 2,326
1,824 1,851 1,371 1,405 1,095.!J..ll 835 855
T o ta l assets
7,151 5,931 4,704 4,262 3.443
Accounts payable
791 560 489 442 345
Advance payments from customers
499 559 335 295 214
Due to banks
527 384 207 148 95
P a rent Company dividend
49 41
4141 38
Other current liabilities and provisans
1,077 2,943 1,031 2,575 803 1,875
~1,745 613 1,305
Bond issues outstanding
254 143
4144 53
Pension liabilities
249 214 184 160 125
Nates payable and mortgage toans
380 883 291 648 181 406 151 355 130 308
General inventory reserve
901 799 731 550 500
lnventory investment account
20 20 19 20 20
lnvestment funds
380 320 344 414 294
Accumulated extra depreciations
808 2,109 637 1,776 483 1,577 345
1,329304 1,118
M i nority interests 11
5
4o o
Share capital
613 513 513 342 342
Legal reserves
282 204 .185 224 193
Retained earnings
310 210 144 267 177
Total shareholders' equity
1,205 927 842 833 712
Totalliabilities and shareholders' equity
7,151 5,931 4,704 4,262 3.443
Pledged assets
1,049 1,029 620 705 468
Confingent liabilities
303 385
171136 94
Shares and participations held by AB Volvo
According to the Balance Sheet as at December 31, 1 97 2 Nominal Book
value of val u e
Percentaga holding (thousands
holding (1,000) of Skr.)
Subsidiaries
Manufacturing companies
Volvo BM AB, Eskilstuna Sweden 100 Skr /5,000 75,000
Volvo Flygmotor AB. Trollhättan Sweden 100 Skr 36,000 36,000
Volvo Europa NV, Ghent Belgium 100 B fr 600,000 62.400
Dieseltechniek Nederland NV, Ridderkerk Netherlands 100 D fl 5,000 7,342
Volvo Canada Ltd. Willowdale Canada 100 Can$ 20 960
Volvo del Peru SA. Lima Peru 60*) Sales 10,800
Motares Volvo SA de CV. Naucalpan Mexico 100 Pesos 2,000
Swedish Motor Assemblies SON BHD, Selangor Malaysia 50**) Mal$ 1,000
Volvo Australia Pty Ltd, Liverpool Australia 60 A$ 1,200 6,965
Sales companies
Norsk Volvo A/S, Oslo Norway 100 N kr 5,000 3,625
Volvo Bil NS, Capenhagen Denmark 100 D kr 5,000 3,745
Oy Volvo-Auto Ab, Helsinki Finland 100 FM 18,500 19,762
Volvo Deutschland GmbH. Dietzenbach West Germany 100 DM 25,000 34,905 Volvo Deutschland Varwattungs GmbH, Dietzenbach West Germany 100 DM 5,000 7,514
Automobiles Volvo SA.lyss Switzerland 100 Sfr 5,000 5,995
Volvo Conlinental SA, Ghent Belgium 100 B fr 2,000 207
Volvo France SA, Paris France 52~ .. *) FF 10,500 10,585
Ailsa Trucks ltd, Glasgow Great Britain 75 [ 225 8,680
Volvo Penta ltalia SRL, Milan l ta ly 100 Lit 900
Volvo of America Corp, Rockleigh, NJ USA 100 US$ 800 4,136
Volvo Distribuidora SA, Lima Peru 100 Sales 20,000
Volvo Amazonas SA. lquitos Peru 100 Sales 770
Volvo Penta de Mexico, Mexico DF Mexico 100 Pesos 5,000
Volvo Sudamericana SAC l, Buenos Aires Argentina 100 Pesos 1,350
Other subsidiaries
Försäkrings AB Volvia, Gothenburg Sweden 100 Skr 2,000 2,000
AB Volvator, Gothenburg Sweden 100 Skr 35,000 35,000
Fastighets AB Volvo-City, Gothenburg Sweden tOO Skr 500 500
Volvonia SA. Geneva Switzerland 100 Sfr 5,000 6,315
Volvofina SA, Ghent Belgium 100 B fr 50,000 5,316
Other subsidiaries 375
Total, subsidiaries 337,327
Ass~ciated campanies
AB Volvofinans, Gothenburg Sweden 50 Skr 1,500 1,500
Volvokredit AB, Gothenburg Sweden 25 Skr 2,500 2,500
AB Bahco. Stockholm Sweden 25 Skr 12.468 12.468
ForssParator AB. Mjölby Sweden 25 Skr 3,000 3,000
F ides A/S, Oslo Norway 33~ N kr 750 539
Societe Franco-Suedoise de Moteurs-PRV, Paris France 33Y3 FF 10,560 10,197 Van Doorne's Personenautofabriek DAF, BV,
Eindhoven Netherlands 33 D fl 38,181 63,249
Zamyad Co ltd, Teheran Iran 25 Ria l s 65,000 2,298
Volvo Malaysia Co BHD, Kuala Lumpur Malaysia 19 Mal$ 1,300 2,212
Other shareholdings 714
Total, associated campanies 98,677
T otal. sh a res and participations 436,004
Less general reserve 32,000
Book value 404004
*) The remainder, 40%, is owned by Volvo Distribuidora SA.
.. ,
Tagether with the shares indirectly owned by AB Volvo the proportion held amounts to 59% .... ,
The remainder, 47~ %. is owned by Volvo BM AB .1 ---~kjv
"' ~ The Volvo share capital (In Skr)
Share capital Numbers of shares Dividend share Dividend, total
1926 200,000 4,000
1930 4,200,000 84,000
rights issue20:1
1935 13,000,000 260,000 2:50 650,000
rights issue.lntroduction gn Stockholm's Stock Exchange
1936 13,000,000 260,000 2:50 650,000
1937 18,200,000 364,000 2:50 910,000
rights issue1938 18,200,000 364,000 3:- 1,092,000
1939 18,200,000 364,000 3:- 1,092,000
1940 18,200,000 364,000 3:- 1,092,000
1941 18,200,000 364,000 3:- 1,092,000
1942 20,000,000 (400,000) 3:- 1,092,000
rights issue1943 25,000,000 500,000 3:- 1,500,000
rights issue1
:41944 25,000,000 500,000 3:- 1,500,000
1945 37,500,000 75o:ooo 3:- 2,250,000
rights issue1
:21946 37,500,000 750,000 3:- 2,250,000
1947 37,500,000 750,000 3:- 2,250,000
1948 37,500,000 750,000 3:- 2,250,000
1949 37,500,000 750,000 3:- 2,250,000
1950 37,500,000
750,0003:- 2,250,000
1951 56,250,000 1,125,000 3:- 3,375,000
rights issue1 :2 1952 75,000,000 1,500,000 3:-
~.500,000 scrip issue1:3
1953 75,000,000 1,500,000 3:- 4,500,000
1954 75,000,000 1,500,000 3:60 5,400,000
1955 90,000,000 1,800,000 3:- 5,400,000
scrip issue1 :5
1956 90,000,000 1,800,000 3:- 5,400,000
1957 90,000,000 1,800,000 3:- 5.400,000
1958 90,000,000 1,800,000 3:- 5,400,000
1959 1 08,000,000 2,160,000 3:- 6,480,000
scrip issue1 :5 1960 114,000,000 2,280,000 3:- 6,480,000
rights issue (Custos)1961 114,000,000 2,280,000 3:75 8,550,000
1962 142,500,000 2,850,000
rights issue1:4
kr60:-
171,000,000 3,420,000 3:- 10,260,000
scrip issue1 :5 1963 1 71 ,000,000 3,420,000 4:- 13,680,000
1964 228,000,000 4,560,000 3:- 13,680,000
scrip issue1 :3 1965 228,000,000 4,560,000 3:90 17,784,000
1966 273,600,000 5,472,000
rights issue1
:5 kr75:-
342,000,000 6,840,000 3:50 23,940,000
scrip issue1
:41967 342,000,000 6,840,000 4:50 30,780,000
1968 342,000,000 6,840,000 5:50 37,620,000
1969 342.000,000 6,840,000 6:- 41,040,000
1970 513,000,000 10,260,000 4:- 41,040,000
scrip issue 1:2
1971 513,000,000 10.260,000 4:- 41,040,000
1972 598,500,000 11,970,000
rights issue1:6
kr80:-
607,180,000 12,143,600
rights issue l ntroduction613,430,000.) 12,268,600 4:- 49,074,400
rights issue on the London Stock Exchange*) The registared share capita l of the Company amounted to
612.68
mkr at the end of the year. After registration of all sh are i nereasas decided upon du ring197 2,
the share capital
amounts to613.43
mkr.t Distribution of shares, 1972
j
The following table has been compiled primarily from information provided by VPC AB (Swedish Securities Register Centre) in the beginning of1973.
No. of In% ot Total shares In% of Average no.sh are- all share- owned in s hare of shares
Volvo shareholders with holders holders size class capita l per owner
Max.
1 00
shares78,400 79.0 2,410,000 19.7 30.7
M in.
1 01,
max.500
sh a res17,100 17.3 3,559,000 29.0 208.1
Min.
501,
max.1,000
shares2,100 2.1 1,413,000 11.5 672.9
M in.
1
,001, max.1 0,000
sh a res1,200 1.2 2,478,000 20.2 2,065.0
More than
10,000
shares59 0.0 2,374,000 19.4 40,237.3
Share coupon certificates not
:ret exchanged about
400 0.4 19!600 0.2
about49.0
Total
99,259 100.0
12,253,600100.0 123.5
Operating statistics
1 Units sold. Volvo total
1972 1971 1970 1969 1968 1967
Cars 232,172 209,964 201,104 180,793 169,164 145.447
Trucks 16,822 15.400 15,574 14,840 11,928 11,041
Buses 1,554 1,259 1.113 1 '121 • 872 863
Tractors 6,860 7,101 8.407 9,237 8,907 9,146
Combines 2,680 2,199 2,160 2,095 2.404 2,637
Construction niachines 3,202 3,621 3,954 4,035 3,461 3.471
Farestry machines 417 461 385 484 370 640
;
2
Totals (in thousands) of u nits registered on certain markets and Volvo m arket penetration (%j.Cars
1972 1971 1970 1969 1968 1967
Sweden, total 221 198 203 226 213 176
-Volvo% 25.2 25.8 26.3 26.1 25.9 25.6
Norway, total 75 81 -70 99 65 65
-Volvo% 11.0 9.8 9.0 9.3 9.6 9.9
Denmark, total 92 104 108 11 7 91 95
-Volvo% 8.4 9.2 10.5 9.5 10.3 12.6
Finland, total 101 75 92 84 48 65
-Volvo% 4.0 4.0 4.4 4.1 3.8 4.1
Great Britain, total 1,638 1,286 1,077 965 1,145 1,143
-Volvo% 1.2 1.2 1.0 0.8 0.6 0.5
W Germany, total 2,143 2,152 2,107 1,841 1,425 1,357
-Volvo% 0.6 0.5 0.4 0.2 0.2 0.2
France, total 1.637 1,469 1,296 1,365 1,240 1,231
-Volvo% 0.3 0.3 0.3 0.2 0.2 0.2
Switzerland, total 2651) 235 211 192 168 153
-Volvo% 3.41) 3.9 4.1 3.8 4.3 3.9
Austria, total 222 195 127 101 1 31 122
-Volvo% 3.0 2.7 2.9 1.7 1.8 1.7
ltaly, total 1,470 1.435 1,364 1,218 1,168 1,162
-Volvo% 0.1 0.1 0.1 0.1 0.02 0.02
Belgium, total 331 260 296 306 266 235
-Volvo% 2.4 2.5 2.6 2.2 2.6 2.8
The Netherlands, total 432 403 432 350 335 264
-Volvo% 1 .1 0.9 0.9 0.8 1 .1 1 .1
USA. total 1 0,6591) 9,729 8,388 9.446 9,404 8,357
-Volvo% 0.51) 0.5 0.5 0.4 0.4 0.4
Canada, total 813 745 636 756 738 668
-Volvo% 1.2 1.1 1.1 0.9 1.0 0.8
Australia, ·total 405 417 413 401 369 336
-Volvo% ~ 0.8 0.5 0.2 0.2 0.1 0.1
1) Du e to the slow progress of registration statistics, on ly estimated figures can be provided.
Trucks
Due to variations in weight classification methods in different countries, the extent of statistics vanes samewhat between countries. The weight classes are shown in the notes below.
1972 1971 1970 1969 1968 1967
Sweden, total2) 5,596 5,755 6,503 5,833 5,030 5,757
-Volvo% .51.4 50.5 50.1 49.3 48.0 47.6
Norway, total2) 2,319 2,807 2,969 2,729 2,323 2,261
-Volvo% 32.0 35.0 33.6 30.7 25.8 30.2
Denmark, total3) 3.804 3,755 4,237 4,246 3.493 3,585.
-Volvo% 32.8 33.0 29.8 26.9 23.5 25.6
Finland, total2) 3,608 3,452 3,800 3,707 3,081' 4,125
-Volvo% 26.4 25.6 23.3 18.8 17.9 14.2
Great Britain, total4) 27,374 32,886 38,003 37,293 34,891 30,218
-Volvo% 5.8 3.6
W Germany, total2) 30,222 43,776 2.71) 1.71) 1 .11) 0.61)
-Volvo% 0.4 0.2
France, totaf) 34,558 31,215 32,015 34,061 26,085 24,155
-Volvo% 3.3 2.6 2.2 1.5 1.~ 1.3
Switzerland, totals) 3,9001) 2,892 2,437 1,856 1,559 1,346
-Volvo% 20.01) 18.5 16.0 15.4 14.9 12.1
Austria, total7) 5,750 4,235 3,436 2,448 2,199 2,622
-Volvo% 5.4 4.4 3.2 2.9 3.3 1.7
Belgium, total~ 5,313 5,998 6.440 5,409 4,256 3,923
-Volvo%· 15.8 13.6 13.0 11.3 14.5 13.3
The Netherlands, totals) 6,602 7,796 7,402 6,134 5,354 4,325
-Volvo% 11.6 9.5 8.7 9.3 10.0 9.7
1) Estimated figures
2) Trucks> 1 O Tons Gross Vehicle Weight
~Trucks> 11 Tons Gross Vehicle Weight
4) Trucks> 5 Tons Kerb weight
5) Trucks> 1 O Tons Gross Vehicle Weight and tractors
~ Trucks> 1 O Tons excluding four-wheel drive units
1 5 Tons train weight
7) Trucks> 5 Tons payload
Buses
1972 19~1 1970 1969 1968 1967
Sweden, total1) 528 4
o
374 42.5 348 2,072-Volvo% 48.9 50.7 46.3 49.2 29.0 21.9
Norway, total2) 565 497 468 573 541 537
-Volvo% 46.9 44.5 38.7 41.2 35.5 36,9
Danmark, tota12) 518 446 608 513 559 550
-Volvo% 30.5 18.8 11.2 14.2 18.1 15.6
Finland, total2) 789 630 725 629 705 714
- Volvo% 39.5 36.2 34.6 33.4 26.8 31.2
1) Buses> 25 passengers
2) All classes
Tractors
1972 1971 1970 1969 1968 1967
Sweden, total 7,182 9,004 8,570 9,853 10,761 10,667
-Volvo BM% 36.3 37.7 39.6 37.1 38.1 42.9
Norway, total 5,403 5,979 5,534 7,051 6,881 6,255
-Volvo BM% 17.5 20.8 18.0 20.5 22.0 19.7
Danmark, total 6,885 3,991 5,537 5,812 6,164 6,837
-Volvo BM% 9.4 8.4 9.6 1 0.1 12.6 12.3
Finland, total 9,964 9,770 10,297 11,088 8,260 10,820
-Volvo BM% 4.9 4.7 4.7 4.5 4.1 5.4
9
3 Volvo production, total figures
1972 1971 1970
C ars 233,965 214,438 204,991
Truck:> 16,992 15,390 16,279
Buses 1,456 1,523 1 '118
Tractors 6,914 6,741 8,460
Combines 1,530 1,665 1,925
Construction machines 3,394 3,821 4,047
Farestry machines 502 438 245
4
Volvo production (assembly) in different factorieslcountries.C ars
1972 Volvo Tarslanda Plant, Sweden 180,200 Volvo Europa NV, Belgium
SwedishMotorAssembliesSDN,Malaysia Volvo Australia Pty Ltd, Australia Volvo Canada Ltd, Canada
Assembly by importers on other markets
Trucks
Volvo Lund by Plant, Sweden Volvo Europa NV, Belgium Zamyad Ca Ltd, Iran
Swedish Motor Assemblies SON, Malaysia Volvo Australia Pty Ltd, Australia
Volvo del Peru, Peru
Buses
Volvo Lund by Plant, Sweden Volvo Europa NV, Belgium
Swedish Motor Assemblies SON, Malaysia Volvo Australia Pty Ltd, Australia
Volvo del Peru, Peru
Tractors, chassis and components Volvo BM, Eskilstuna, Sweden
~onstruction machines Volvo BM, Arvika, Sweden
Combines
Volvo BM, Hallsberg, Sweden No te.
37,000 1,400 4,300 9,600 3,653
1972
11,345 2,532 380 15 550
- trrj)v 685
1972
1,068 45
75
1972
9,470
1972
1,230
1972
1,530
1971
176,000 27,000 1,200 1,300 8,200 2,861
1971
11,236 2,241
255 70 11 385
1971
1 '125 31
8 60
1971
9,353
1971
1,594
1971
1,665
1970
168,500 23,000 900 7,500 6,570
1970
, 2,289 2,260 330 125 125
1970
778 10
10
1970
11,418
1970
1,334
1970
1,925
1969
, 81,668 14,547 1,008 9,559 2,215 4,076 325
1969
151,000 17,800 1,000 6,700 6,264
1969
11,667 1,573 290
60
1969
865 11
5
1969
12,449
1969
1,511
1968
170,746 11,642 806 8,407 1,900
~.264
466
1968
143,800 16,200 1,300 5,500 4,992
1968
8,858 1,408 380
50
1968
560
1968
10,803
1968
1,334
1968
1,900
1967
148,742 10,387 951 9,230 2,350 3,548 721
1967
128,200 12,900 500 4,500 3,532
1967
8,122 1,260 250
55
1967
719
1967
, 2,299
1967
1,400
1967
2,150
The total assembly figures in Table 4 can differ from the productian figures in Table 3 due to the fact that there is som e _delay in the assembly of Gompietely Knocked Down shipments (transport and assembly time).
5
World production totals (millions of units) C ars1972 1971 1970 1969 1968 1967
Total 27.5 26.2 22.5 23.0 21.7 18.5
whereof
North America 10.0 9.7 7.4 9.2 9.7 8.1
USA 8.8 8.6 6.5 8.2 8.8 7.4
Canada 1.2 1.1 0.9 1.6 0.9 0.7
Western Europe 11.4 10.9 10.4 9.6 8.7 7.8
Sweden 0.3 0.3 0.3 0.2 0.2 0.2
Great Britain 1.9 1.7 1.6 1.7 1.8 1.6
France 3.0 2.7 2.5 2.2 1.8 1.8
ltaly 1.8 1.7 1.7 1.5 1.5 1.4
West Germany 3.5 3.7 3.5 3.3 2.9 2.3
Japan 4.0 3.7 3.2 2.6 2.1 1.4
Trucks and buses
1972 1971 1970 1969 1968 1967
Total 7.60 7.00 6.50 6.50 6.30 5.50
whereof
North America 2.77 2.33 1.97 2.27 2.23 1.77
USA 2.45 2.05 1.72 1.96 1.95 1.54
Canada 0.32 0.28 0.25 0.31 0.28 0.23
Western Europe 1.32 1.35 1.35 1.30 1.15 1.04
Sweden 0.03 0.03 0.03 0.03 0.02 0.02
Great Britain 0.41 0.46 0.46 0.47 0.41 0.39
France 0.34 0.32 0.29 0.29 0.24 0.23
The Netherlands 0.01 0.01 0.01 0.01 0.00 0.00
l ta ly 0.11 0.12 0.13 0.12 0.12 0.10
West Germany 0.29 0.29 0.31 0.29 0.25 0.19
Japan 2.27 2.09 2.1 l 2.06 2.03 1.77
6 Trucks>6tonsGrossVehicleWeightinNorthAmerica,WesternEuropeandJapan(thousands of units)
1972 1971 1970 1969 1968 1967
Total 1,129.0 1,110.4 1,160.2 1,159.7 1,034.2 939.6
whereof
North America2) 420.1 363.3 354.6 409.5 378.0 357.0
USA2) 368.1 318.4 301.2 355.3 331.6 308.6
Canada2) 52.0 44.9 53.4 54.2 46.4 48.4
Western Europe 329.6 382.9 413.1 380.6 323.9 282.6
Sweden 30.3 27.2 29.0 25.3 18.5 17.0
Great Britain3) 106.5 148.8 163.3 168.1 1405 126.5
France 39.8 39.5 42.3 39.6 31.5 29.7
The Netherlands 7.81) 8.1 7.6 6.5 5.4 4.6
. ..
ltaly 31.21) 35.9 44.4 37.2 42.0 34.6West Germany 94.6 106.7 106.0 84.4 69.4 51.7
Japan4) 379.3 364.2 392.5 369.6 332.3 300.0
1) Estimated figures
2) Trucks> 6.3 Tons Gross Vehicle Weight
~ Trucks> 5 Tons Gross Vehicle Weight
4) Trucks> 2 Tons Payload
1 1
7 Volvo- number of employees (31 .12)
1972 1971 1970 1969 1968 1967
Hourly paid Sweden
Volvo 21,110 19,413 18,364 16.469 11,083 9.468
Volvo 8M 2,648 2,708 3,337 3,127 2,623 2,711
Flygmotor 1.486 1,465 1.431 1,382 1,348 1,291
Other Swedish subsidiaries 952 997 755 576 376 740
T otal in Sweden 26,196 24,583 23,887 21.554 15,430 14,210
Outside Sweden 3,478 2,108 1.490 1,11
o
951 965Total, hourly paid 29,674 26,691 25,377 22,664 16,381 15,175
Salaried staff Sweden
Volvo 8,149 7,895 7,453 6,272 4,676 4,385
VolvoBM 1,552 1,660 1,750 1,672 1,595 1,631
Flygmotor 945 933 936 981 1,049 996
Other Swedish subsidiaries 877 865 781 542 464 615
Total in Sweden 11,523 11,353 10,920 9,472 7,784 7,627
Outside Sweden 3,604 3,171 2,569 1,912 1,714 1,466
Total, salariad staff 15.127 14,524 13,489 11,384 9,498 9,093
Total numberofemployees 44,801 41,215 38,826 34,048 25,879 24,268
8 Volvo- Purehese (Production, raw material and parts) (millions of Skr).
1972 1971 1970 1969 1968 1967
Sweden 1,516.6 1,374.3 1,222.4 1,061.3 960.0 847.9
Denmark, Norway, Finland 158.6 118.1 107.3 84.7 59.6 46.0
Other European countries 1,491.9 1,202.4 1,049.3 809.9 612.0 543.9
North America 152.6 143.5 133.5 124.7 91.3 88.8
Others 34.7 43.2 31.1 17.5 10.5 8.0
Total 3,354.4 2,881.5 2,543.6 2,098.1 1,733.4 1,534.6
12
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Cumpiled bv Volvo. Public AH.:.irs. S-405 08 Göteborg