Transformation program and increasing demand in key markets helps boost Volvo CE in second quarter
Driven by improvements in most major markets, Volvo Construction Equipment (Volvo CE) reported that net sales in the second quarter of 2017 increased by more than a third, rising 36 per cent compared to the same period in the year before. Good cost control as volumes return also resulted in a significant improvement in profitability.
The second quarter of 2017 saw increased demand in most major markets. Europe was up 14 per cent, while North and South America both saw a 4 per cent improvement. Asia (excluding China) was up 8 per cent, while the Chinese market was up almost two thirds, at 65 per cent.
“Demand for construction equipment continues to improve in Europe,” commented Martin Weissburg, president of Volvo Construction Equipment. “Thanks to Volvo CE keeping tight control over costs as volumes return, these increased sales have resulted in a significant improvement in profitability. In general, Volvo CE has competitive products and services, with good positions in key markets. We will continue to focus on core products and segments, continuous improvement, lowering costs and improving quality.”
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