Earnings estimates - Volvo Group

Earnings estimates are collected and calculated by the Swedish news agency SME Direkt based on projections from Swedish and international analysts who cover Volvo.

Figures below are mean values of the estimates. All opinions, estimates or forecasts regarding the company's performance made by contributing analysts are theirs alone and do not represent opinions, forecasts or predictions by the company or its management.

Summary

	Yearly			Quarterly
	2009E	2010E	2011E	A	E
Sales, SEK M	237,419	244,717
Pre-tax, SEK M	-12,209	4,014
EPS SEK	-4.25	1.29
DPS SEK	1.00	1.75
Number of contributing analysts	12	12	12
Next report date: 2009-07-21

Comments

All full-year statistics are updated on a continuing basis by SME Direkt. Last update shows when estimates or forecasts for one or several contributing analysts have been updated. None of the analysts' estimates are older than three months.

Quarterly estimates are updated and presented by SME Direkt a couple of days prior the release of the company's Interim report. This column is otherwise blank or has zeros.

Non-recurring items (NRI)

Yearly
2009	Incl NRI of average SEK -2,177 m
Interim

Explanations

A - Actual (reported) DPS - Dividend per share E - Estimate EPS - Net earnings per share

Mean - The average of the estimates NRI - Non-recurring items Pre-tax - Profit before tax