Volvo Construction Equipment sold a record 84,000 machines in 2011. The company believe its ascendancy in the Chinese market was a key factor behind the landmark. Full year sales rose by 21% to SEK 64,987million (US$9.64billion) compared to SEK 53,810million (US$7.9billion). Operating income also increased in 2011, to SEK 6,653million (US$987.4million), up from SEK 6,180million (US$917.2million) the previous year.
However, operating margin was down slightly in 2011 to 10.2%, compared to 11.5% in 2010.359 Volvo CE said this was mainly due to the negative impact of currency issues. The construction giants said its prospects for 2012 were expected to remain positive, with Europe trade predicted to grow by 10-20%, North America by between 15-25% and South America by between 0-10%. Asia (excluding China) is forecast to grow by between 10-20%, while China itself is projected to be on the same level as in 2011.
However, operating margin was down slightly in 2011 to 10.2%, compared to 11.5% in 2010.
