CNH posts 2011 profits
By Sarah Ann McCay06 February 2012
CNH, the parent of Case and New Holland, has reported a rise in revenues of +11% for 2011, while operating profit for the manufacturer rose +65% to reach US$ 1.5 billion.
The US-based equipment manufacturer recorded net sales of US$ 18.1 billion, an increase of +25% over 2010 figures.
Sales of construction equipment rose +32% in 2011 to achieve US$ 3.9 billion. Unit sales for light equipment were up +30% and heavy equipment up +23%. CNH said North American demand was up +38% and EAME and CIS markets rose +35% as the industry continued to rebuild from the prior year's low levels.
In Latin America, the company said the market was up +25%, driven by strong demand from projects in both the public and private sectors. In APAC markets, industry sales were up +19% for the year, although significantly weaker in the second half.
CNH forecast that 2012 would see continued growth as demand in the agriculture and construction equipment markets is expected to remain positive. The company said it expected unit sales of construction equipment to see gains of +15% to +20% in 2012.