Volvo CE sales rise, operating margin drops
Volvo Construction Equipment ended its fourth quarter with a 14 percent increase in net sales, helping the company to a full year sales increase of 21 percent in 2011.
Volvo CE sold 84,000 machines last year, up from 66,000 in 2010, and began 2012 with an order book 51 percent higher than in early 2011. In addition to an increase in sales from about $7,938 million to nearly $9,587 million, the company saw a rise in operating income in the fourth quarter, which was up to about $981 million from nearly $912 million.
Volvo CE also reported a decrease in operating margin, which was 10.2 percent in 2011 versus 11.5 percent in 2010.
Net sales for Volvo CE in the fourth quarter amounted to nearly $2,471 million, up from about $2,162 million at the end of 2010. When adjusted for changes in the exchange rates, net sales rose to 15 percent.
However, operating income in the fourth quarter of 2011, which was about $243 million, was lower than the $259 million the company saw in the fourth quarter of 2010.
Volvo CE expects to continue worldwide growth in 2012.
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