Volvo CE’s Q2 sales up 36%
Volvo Construction Equipment has revealed a rise in net sales of 36% in its results for the second quarter of 2017.
Total net sales for the Swedish manufacturer were reported at SEK 18.51 billion (US$2.23 billion), attributed largely to good cost control as volumes return.
Operating income for Volvo CE is also significantly up, at SEK2.4 billion – more than three times the SEK810 million reported in the same period in 2016.
Markets highlighted by Volvo as seeing increased demand were Europe (up 14%), North and South America (both seeing an uplift of 4%), and Asia (excluding China), with an 8% rise in demand.
Demand from the Chinese market, said Volvo, was up almost two thirds (65%) in the reporting period.
As well as commenting on improving markets in Europe and China, Martin Weissburg, president of Volvo CE, said, there had also been a “clear recovery in the mining segment in many parts of the world.”
He added, “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.”