New record Volvo CE machine sales
First publishedon www.AggBusiness.com
Volvo Construction Equipment believes its ascendancy in the Chinese market is behind its record annual sale of 84,000 machines in 2011.
Full year sales rose by 21% to €7.38bn (SEK 64,987million) compared to €6.11bn (SEK 53,810million).
Operating income also increased in 2011, to €756.3million (SEK 6,653million), up from €702.5million SEK (6,180million) the previous year. However, operating margin was down slightly in 2011 to 10.2%, compared to 11.5% in 2010. Volvo CE said this was mainly due to the negative impact of currency issues.
The construction giants said its prospects for 2012 were expected to remain positive, with Europe trade predicted to grow by 10-20%, North America by between 15-25% and South America by between 0-10%. Asia (excluding China) is forecast to grow by between 10-20%, while China itself is projected to be on the same level as in 2011.