CNH Construction sees Q2 decline
By Chris Sleight02 August 2013
Revenues at CNH Construction fell -6% in the second quarter of the year to US$ 939 million, compared to the same period last year. The division’s operating profit was down to US$ 12 million, from US$ 17 million, for a margin of just 1.3%.
The company said that market conditions remained “challenging” in most regions, and added that it continued to manage its inventory and match production to demand.
CNH Construction’s sales over the first six months of the year came to US$ 1.69 billion, a -16.4% fall on this first half of 2012.
The company as a whole saw revenues climb +9% to US$ 5.48 billion in the second quarter, thanks to a +13% increase in revenues from its agricultural equipment business. This had sales of US$ 4.54 billion over the course of the three months. CNH’s operating profit for the quarter was up +26% to US$ 659 million, for a margin of 12.0%.