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Bolstered by improving market conditions and the positive impact of its transformation program, Volvo Construction Equipment saw sales increase by 30 per cent in the first quarter of 2017
Improving market conditions in all regions except South America helped Volvo Construction Equipment (Volvo CE) report strong growth in sales, profitability, order intake and deliveries in the first quarter of 2017.
“After years of tough market conditions, the Volvo CE business is growing again,” commented Volvo CE’s president Martin Weissburg. “Higher sales volumes linked with increased internal efficiency and a lower cost base helped us deliver good profitability levels during the quarter. Volvo CE is on the right track, the improvement plan is yielding results and there are further opportunities to improve the long-term competitiveness of the company.”
During the first three months of 2017 Volvo CE saw net sales jump by 30 per cent to SEK 16,163 M (SEK 12,452 M in Q1 2016). Operating income was also positively impacted, rising to SEK 1,617 M, up significantly compared to SEK 341 M in the first quarter of 2016. Operating margin also saw good improvement, at 10 per cent, compared to 2.7 per cent in the same period the year before.
In the first quarter of 2017 Volvo CE also enjoyed an increase in order intake, which rose by 34 per cent to 17, 487 machines, with increases in orders coming from all markets, but particularly China and Europe. Deliveries were also up 34 per cent during the period, to 16,369 machines.
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