Volvo CE sales up 30% in 2011
Company produced record 84,000 machines last year amid positive trends in most markets
ANNOUNCING their fourth-quarter and full-year results, Volvo Construction Equipment reported unit sales up almost a third in 2011, amid positive sales trends in most markets, with the exception of China, which had a relatively weak fourth quarter.
The company produced an all-time high of 84,000 machines last year (up from 66,000 in 2010), and began 2012 with an order book 51% higher than at the same point in the preceding year.
For the full-year 2011, Volvo CE’s sales increased by 21% to SEK64,987 million, compared with SEK53,810 million in 2010. Operating income also increased, to SEK6,653 million, up from SEK6,180 million in the preceding year.
With good momentum in most markets, the full year figures were bolstered by a solid set of fourth-quarter results. Net sales in the last three months were up 14% to SEK16,750 M (2010: SEK14,657 million), while at SEK1,649 million, operating income saw a modest decrease in the quarter, down from SEK1,758 million in the same period in the previous year, largely due to the negative impact of currency issues.
Volvo CE say prospects for 2012 are expected to remain positive, with Europe anticipated to grow by 10–20%, North America by 15–25% and South America by up to 10%. Asia (excluding China) is forecast to grow by 10–20%, while China itself is projected to be at the same level as in 2011.