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| Volvo CE sales up 51% in fourth quarter With the recovery now broad based, Volvo Construction Equipment ends 2010 having sold a record 66,000 machines and reports a strong order book and high levels of profitability. Announcing its fourth quarter and full year results, Volvo Construction Equipment (Volvo CE) reported a sharp increase in sales and profitability in 2010, amid improving conditions for the industry. The company also increased unit sales by 70% – selling an all-time-high of 66, 000 machines during the year. For the full year 2010, Volvo CE's sales increased by 51% to SEK 53,810 M, compared to 35,658 M in 2009. Operating income, meanwhile, leapt to SEK 6,180 M, up from a loss of 4,005 M in the preceding year. Operating margin also improved considerably, up to 11.5% in 2010 compared to a negative margin of 11.2% in the year before. These significantly improved full year figures were boosted by a strong set of fourth quarter results. Net sales in the last three months were up 44% and amounted to SEK 14,657 M (SEK 10,159 M in 2009). When adjusted for changes in the exchange rates, net sales rose even further – by 51%. Operating income also saw a sharp improvement during the quarter at SEK 1,758 M, up from a loss of SEK 564 M in the same period of 2009. These improved results were accompanied by an operating margin of 12%, which was the highest ever for a fourth quarter. Volvo CE's order bookings remain strong; with a total value of the order book on December 31st some 45% higher than on the same date in 2009. write your comments about the article :: © 2011 Construction News :: home page |