Volvo returns to profit

26 April 2010

Out-going Volvo president & CEO, Olof Persson.

Out-going Volvo president & CEO, Olof Persson.

Volvo Construction Equipment's (Volvo CE) sales for the first quarter of 2010 rose +36% to SEK 11.1 billion (US$ 1.5 billion), up from SEK 8.1 billion (US$ 1.1 billion) for the same period last year.

While sales in North America slipped -23% from SEK 1.7 billion (US$ 249 million) to SEK 1.3 billion (US$ 192 million), sales in Europe remained static at SEK 3 billion (US$ 428 million) and all other regions recorded double or triple digit growth.

Sales in Asia rose +114% to SEK 5.2 billion (US$ 732 million), up from SEK 2.4 billion (US$ 342 million) 12 months ago, while in South America sales jumped +106% to SEK 801 million (US$ 111 million), up from SEK 388 million (US$ 54 million).

President and CEO, Olof Persson said, "Following a difficult 2009 Volvo Construction Equipment has made a strong start to 2010. We have been particularly successful in developing our business in China, demonstrated by our +114% growth in sales in Asia during the first quarter.

"With a global economy that is returning to growth, Volvo has every reason to be optimistic about the future," he said.

Latest News
FIEC: What is the bottom line for late payments in commerical transactions?
Rules on combatting late payments in commercial transactions under review
ERA Convention tackles sustainability in rental
Packed programme explores energy transition and decarbonisation
Trackunit interview: swimming in a data lake
Trackunit’s Soeren Brogaard on telematics and AI