Scania annual report 2004

Note 1 continued
PRIMARY SEGMENTS
(lines of business) Vehicles and Service Customer Finance Eliminations and other Scania Group
January– December, SEK m. 2004 2003 2002 2004 2003 2002 2004 2003 2002 2004 2003 2002
Revenue from external customers 56,788 50,581 47,285 3,427 3,479 3,763 – 1,748 – 1,822 – 2,027 58,467 52,238 49,021
Operating income 5,875 4,743 3,525 450 366 308 – – – 6,325 5,109 3,833
Income from holdings in associated companies 12 16 23 – – – – – – 12 16 23
Capital gain related to car operations – – – – – – – – 550 – – 550
Financial income and expenses 1 – 323 – 521 – 684 – – – – – – – 323 – 521 – 684
Income after financial items 5,564 4,238 2,864 450 366 308 – – 550 6,014 4,604 3,722
Taxes 1 – 1,796 – 1,432 – 890 – 139 – 133 – 95 – – – – 1,935 – 1,565 – 985
Minority interests – 2 – 5 2 – – – – – – – 2 – 5 2
Net income 3,766 2,801 1,976 311 233 213 0 0 550 4,077 3,034 2,739
Depreciation/amortisation included
in operating income 2 – 2,184 – 2,000 – 2,093 – 15 – 16 – 13 – – – – 2,199 – 2,016 – 2,106
1 Financial income and expenses are reported for both lines of business, because Customer Finance carries out financial operations and the cost of this is based on net financing expense after taxes.
For reasons of comparability, the corresponding information is also shown for the Vehicles and Service line of business.
2 Depreciation on operating leases is not included.
BALANCE SHEET
31 December, SEK m.
ASSETS
Intangible fixed assets 2,447 2,381 1,926 13 14 12 – – – 2,460 2,395 1,938
Tangible fixed assets 3, 6 17,861 17,347 16,792 7,065 7,921 8,366 – 1,328 – 1,376 – 1,518 23,598 23,892 23,640
Shares and participations 92 122 126 – – – – – – 92 122 126
Inventories 9,446 8,460 7,831 41 46 31 – – – 9,487 8,506 7,862
Interest-bearing receivables 4 1,074 1,268 1,524 19,558 18,030 16,966 – – – 20,632 19,298 18,490
Other receivables 5 11,456 9,501 9,452 658 619 630 – 656 – 414 – 390 11,458 9,706 9,692
Liquid investments 2,196 1,779 4,187 302 137 152 – – – 2,498 1,916 4,339
Total assets 44,572 40,858 41,838 27,637 26,767 26,157 – 1,984 – 1,790 – 1,908 70,225 65,835 66,087
SHAREHOLDERS’ EQUITY AND LIABILITIES
Shareholders’ equity 17,953 15,164 13,828 3,097 3,087 3,103 – – – 21,050 18,251 16,931
Provisions for pensions 2,490 2,268 2,220 9 6 5 – – – 2,499 2,274 2,225
Other provisions 4,205 4,181 3,315 599 761 874 – – – 4,804 4,942 4,189
Interest-bearing liabilities 3,050 4,426 8,495 22,563 21,781 20,952 – – – 25,613 26,207 29,447
Other liabilities 5, 6 16,874 14,819 13,980 1,369 1,132 1,223 – 1,984 – 1,790 – 1,908 16,259 14,161 13,295
Total shareholders’ equity and liabilities 44,572 40,858 41,838 27,637 26,767 26,157 – 1,984 – 1,790 – 1,908 70,225 65,835 66,087
3 Tangible assets in the Customer Finance segment mainly consist of leasing assets (operating leases).
4 Interest-bearing receivables in the Customer Finance segment mainly consist of financial leases and hire purchase contracts.
5 Elimination refers to internal receivables and liabilities between the two segments.
6 Elimination refers to deferred gains on operating leases.
Gross investments during the period in
– intangible fixed assets 361 710 619 4 8 10 365 718 629
– tangible fixed assets 2,360 2,466 2,377 12 12 19 2,372 2,478 2,396
– short-term rentals, operating leases 1,617 2,103 1,323 2,572 3,239 2,972 4,189 5,342 4,295
NOTES • SCANIA ANNUAL REPORT 2004 58