Spreadsheet: 040788f0-e535-466b-bd9c-e8edf15c1675
Sheet: Restate - Inc Statement ENG

Attachment 1
Consolidated income statement
Quarter 1/2011 |  | Industrial Operations |  |  |  | Customer Finance |  |  |  | Volvo Group Total
SEK M | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement
Net sales | 69956 | 0 | 69956 |  | 2099 | 0 | 2099 |  | 71577 | 0 | 71577
Cost of sales | -52481 | -329 | -52810 |  | -1354 | 0 | -1354 |  | -53357 | -329 | -53686
Gross income | 17475 | -329 | 17146 |  | 745 | 0 | 745 |  | 18220 | -329 | 17891
Research and development expenses | -3309 | 0 | -3309 |  | 0 | 0 | 0 |  | -3309 | 0 | -3309
Selling expenses | -5706 | -276 | -5982 |  | -381 | 0 | -381 |  | -6087 | -276 | -6363
Administrative expenses | -1715 | 597 | -1118 |  | -8 | 8 | 0 |  | -1723 | 605 | -1118
Other operating income and expenses | -395 | 0 | -395 |  | -177 | 0 | -177 |  | -571 | 0 | -571
Income(loss) from investments in associated companies | -19 | 0 | -19 |  | 0 | 0 | 0 |  | -19 | 0 | -19
Income from other investments | 12 | 0 | 12 |  | 0 | 0 | 0 |  | 12 | 0 | 12
Operating income | 6343 | -8 | 6335 |  | 179 | 8 | 187 |  | 6522 | 0 | 6522
Interest income and similar credits | 166 | 0 | 166 |  | 0 | 0 | 0 |  | 151 | 0 | 151
Interest expenses and similar charges | -736 | 0 | -736 |  | 0 | 0 | 0 |  | -720 | 0 | -720
Other financial income and expenses | -106 | 0 | -106 |  | 0 | 0 | 0 |  | -106 | 0 | -106
Income after financial items | 5667 | -8 | 5659 |  | 179 | 8 | 187 |  | 5847 | 0 | 5847
Income taxes | -1603 | 0 | -1603 |  | -62 | 0 | -62 |  | -1665 | 0 | -1665
Income for the period | 4064 | -8 | 4056 |  | 117 | 8 | 125 |  | 4181 | 0 | 4181
Quarter 2/2011 |  | Industrial Operations |  |  |  | Customer Finance |  |  |  | Volvo Group Total
SEK M | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement
Net sales | 77286 | 0 | 77286 |  | 2225 | 0 | 2225 |  | 78962 | 0 | 78962
Cost of sales | -58618 | -351 | -58969 |  | -1430 | 0 | -1430 |  | -59499 | -351 | -59850
Gross income | 18668 | -351 | 18317 |  | 795 | 0 | 795 |  | 19463 | -351 | 19112
Research and development expenses | -3370 | 0 | -3370 |  | 0 | 0 | 0 |  | -3370 | 0 | -3370
Selling expenses | -5928 | -230 | -6158 |  | -399 | 0 | -399 |  | -6327 | -230 | -6557
Administrative expenses | -1740 | 574 | -1166 |  | -7 | 7 | 0 |  | -1747 | 581 | -1166
Other operating income and expenses | -184 | 0 | -184 |  | -139 | 0 | -139 |  | -324 | 0 | -324
Income(loss) from investments in associated companies | -51 | 0 | -51 |  | 0 | 0 | 0 |  | -51 | 0 | -51
Income from other investments | 3 | 0 | 3 |  | 0 | 0 | 0 |  | 3 | 0 | 3
Operating income | 7398 | -7 | 7391 |  | 250 | 7 | 257 |  | 7648 | 0 | 7648
Interest income and similar credits | 148 | 0 | 148 |  | 0 | 0 | 0 |  | 148 | 0 | 148
Interest expenses and similar charges | -734 | 0 | -734 |  | 0 | 0 | 0 |  | -734 | 0 | -734
Other financial income and expenses | 187 | 0 | 187 |  | 0 | 0 | 0 |  | 187 | 0 | 187
Income after financial items | 6999 | -7 | 6992 |  | 250 | 7 | 257 |  | 7249 | 0 | 7249
Income taxes | -1919 | 0 | -1919 |  | -90 | 0 | -90 |  | -2009 | 0 | -2009
Income for the period | 5080 | -7 | 5073 |  | 161 | 7 | 168 |  | 5241 | 0 | 5241
Quarter 3/2011 |  | Industrial Operations |  |  |  | Customer Finance |  |  |  | Volvo Group Total
SEK M | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement
Net sales | 71559 | 0 | 71559 |  | 2237 | 0 | 2237 |  | 73321 | 0 | 73321
Cost of sales | -55139 | -349 | -55488 |  | -1434 | 0 | -1434 |  | -56097 | -349 | -56446
Gross income | 16420 | -349 | 16071 |  | 803 | 0 | 803 |  | 17224 | -349 | 16875
Research and development expenses | -3207 | 0 | -3207 |  | 0 | 0 | 0 |  | -3207 | 0 | -3207
Selling expenses | -5897 | -256 | -6153 |  | -409 | 0 | -409 |  | -6306 | -256 | -6562
Administrative expenses | -1703 | 598 | -1105 |  | -7 | 7 | 0 |  | -1710 | 605 | -1105
Other operating income and expenses | -97 | 0 | -97 |  | -137 | 0 | -137 |  | -235 | 0 | -235
Income(loss) from investments in associated companies | -1 | 0 | -1 |  | 0 | 0 | 0 |  | 0 | 0 | 0
Income from other investments | 8 | 0 | 8 |  | 0 | 0 | 0 |  | 8 | 0 | 8
Operating income | 5523 | -7 | 5516 |  | 251 | 7 | 258 |  | 5774 | 0 | 5774
Interest income and similar credits | 149 | 0 | 149 |  | 0 | 0 | 0 |  | 146 | 0 | 146
Interest expenses and similar charges | -737 | 0 | -737 |  | 0 | 0 | 0 |  | -735 | 0 | -735
Other financial income and expenses | 259 | 0 | 259 |  | 0 | 0 | 0 |  | 259 | 0 | 259
Income after financial items | 5193 | -7 | 5186 |  | 251 | 7 | 258 |  | 5443 | 0 | 5443
Income taxes | -1463 | 0 | -1463 |  | -85 | 0 | -85 |  | -1548 | 0 | -1548
Income for the period | 3731 | -7 | 3724 |  | 165 | 7 | 172 |  | 3895 | 0 | 3895
Quarter 4/2011 |  | Industrial Operations |  |  |  | Customer Finance |  |  |  | Volvo Group Total
SEK M | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement
Net sales | 84788 | 0 | 84788 |  | 2321 | 0 | 2321 |  | 86507 | 0 | 86507
Cost of sales | -65278 | -552 | -65830 |  | -1475 | 0 | -1475 |  | -66151 | -552 | -66703
Gross income | 19510 | -552 | 18958 |  | 846 | 0 | 846 |  | 20356 | -552 | 19804
Research and development expenses | -3390 | 0 | -3390 |  | 0 | 0 | 0 |  | -3390 | 0 | -3390
Selling expenses | -6852 | -36 | -6888 |  | -429 | 0 | -429 |  | -7281 | -36 | -7317
Administrative expenses | -1947 | 583 | -1364 |  | -5 | 5 | 0 |  | -1952 | 588 | -1364
Other operating income and expenses | -369 | 0 | -369 |  | -150 | 0 | -150 |  | -519 | 0 | -519
Income(loss) from investments in associated companies | -11 | 0 | -11 |  | 0 | 0 | 0 |  | -11 | 0 | -11
Income from other investments | -248 | 0 | -248 |  | 0 | 0 | 0 |  | -248 | 0 | -248
Operating income | 6693 | -5 | 6688 |  | 262 | 5 | 267 |  | 6955 | 0 | 6955
Interest income and similar credits | 182 | 0 | 182 |  | 0 | 0 | 0 |  | 164 | 0 | 164
Interest expenses and similar charges | -705 | 0 | -705 |  | 0 | 0 | 0 |  | -686 | 0 | -686
Other financial income and expenses | -43 | 0 | -43 |  | 0 | 0 | 0 |  | -43 | 0 | -43
Income after financial items | 6127 | -5 | 6122 |  | 262 | 5 | 267 |  | 6390 | 0 | 6390
Income taxes | -1506 | 0 | -1506 |  | -86 | 0 | -86 |  | -1592 | 0 | -1592
Income for the period | 4621 | -5 | 4616 |  | 176 | 5 | 181 |  | 4798 | 0 | 4798
Year 2011 |  | Industrial Operations |  |  |  | Customer Finance |  |  |  | Volvo Group Total
SEK M | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement |  | Previously reported | Restatement | After restatement
Net sales | 303589 | 0 | 303589 |  | 8883 | 0 | 8883 |  | 310367 | 0 | 310367
Cost of sales | -231516 | -1581 | -233097 |  | -5693 | 0 | -5693 |  | -235104 | -1581 | -236685
Gross income | 72073 | -1581 | 70492 |  | 3190 | 0 | 3190 |  | 75263 | -1581 | 73682
Research and development expenses | -13276 | 0 | -13276 |  | 0 | 0 | 0 |  | -13276 | 0 | -13276
Selling expenses | -24383 | -798 | -25181 |  | -1618 | 0 | -1618 |  | -26001 | -798 | -26799
Administrative expenses | -7105 | 2352 | -4753 |  | -27 | 27 | 0 |  | -7132 | 2379 | -4753
Other operating income and expenses | -1045 | 0 | -1045 |  | -603 | 0 | -603 |  | -1649 | 0 | -1649
Income(loss) from investments in associated companies | -82 | 0 | -82 |  | 0 | 0 | 0 |  | -81 | 0 | -81
Income from other investments | -225 | 0 | -225 |  | 0 | 0 | 0 |  | -225 | 0 | -225
Operating income | 25957 | -27 | 25930 |  | 942 | 27 | 969 |  | 26899 | 0 | 26899
Interest income and similar credits | 644 | 0 | 644 |  | 0 | 0 | 0 |  | 608 | 0 | 608
Interest expenses and similar charges | -2912 | 0 | -2912 |  | 0 | 0 | 0 |  | -2875 | 0 | -2875
Other financial income and expenses | 297 | 0 | 297 |  | 0 | 0 | 0 |  | 297 | 0 | 297
Income after financial items | 23986 | -27 | 23959 |  | 942 | 27 | 969 |  | 24929 | 0 | 24929
Income taxes | -6490 | 0 | -6490 |  | -323 | 0 | -323 |  | -6814 | 0 | -6814
Income for the period | 17496 | -27 | 17469 |  | 619 | 27 | 646 |  | 18115 | 0 | 18115