Penn Jersey Machinery North America

SALES UP 32% IN STRONG SECOND QUARTER AT VOLVO CONSTRUCTION EQUIPMENT

Helping the Volvo Group to its best ever quarter, Volvo CE posted significant improvements in sales, earnings and order intake.

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A combination of competitive products and high demand in most markets saw Volvo Construction Equipment (Volvo CE) report net sales in the second quarter of 2018 that were up by almost a third, rising 32% compared to the same period in the year before. Good cost control as volumes return also resulted in strong improvement in profitability.

Net sales in the second quarter increased by 32%, amounting to SEK 24,403 M (SEK 18,439 M in Q2 2017). Operating income was also strongly up, at 3,675 M in the period, eclipsing the 2,460 reported in the same period the year before, equating to an operating margin of 15.1% (13.3%).

To read the full press release, visit www.volvoce/press.