Volvo CE Ends Record Year With A Bang
Volvo Construction Equipment finished said that fourth quarter sales in 2005 were up 30% over the same time last year, putting a solid finish on a record year for the company. Volvo CE said that in 2005, the company sold more than 33,000 machines, a 13% increase on the previous year.
Net sales in the fourth quarter amounted to approximately $1.32 billion and operating income increased by 73% to $94.6 million. For the full year 2005, net sales rose 19% to $4.478 billion, up from $3.77 billion in 2004. Operating income also saw a significant increase, up 45% to $363 million.
“2005 was a good year for Volvo CE, one that saw both favorable growth and increased profitability,” commented President and CEO Tony Helsham. “The improvements in sales and operating income are due to a favorable product and market mix, good pricing conditions, increased productivity and good control over selling and administrative expenses.”