Volvo Construction Equipment’s profit upwards

The global group boasts income’s growth for the first quarter of 2017 with notably an increase of sales by 30%.

Volvo CE sales for the first quarter of 2017 have risen by 30% reaching SEK 16,163M and as a consequence, operating income at SEK 1.617M this year is considerably more important than the first quarter of 2016 which yielded SEK 341M. Moreover, the operating margin improvement is at 10% in 2017 instead of 2.7% last year, at the same period.

Volvo CE’s president Martin Weissburg declared: “After years of tough market conditions, the Volvo CE business is growing again. 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.”

The group also shows an increase in order intake by 34% to 17,487 machines. This is mainly due to good results in the European Market (Germany, the United Kingdom and France) with 17% increased demand as well as the Asian market which jumps 10% above compared to last year at the same period with improvements in India and Korea.