Volvo Construction Equipment reports that it saw a 5 percent sales gain in 2019, despite a 3 percent sales drop in the fourth quarter.
In 4Q 2019, net sales decreased by 3 percent to SEK 19,716 million, compared with SEK 20,323 in 4Q 2018. (All amounts are reported in Swedish Krona.)
For the full year net sales increased to SEK 88,606 million, up from SEK 84,238 million in 2018.
Volvo CE also announced it will start taking orders for both electric compact wheel loaders and compact excavators in February. Serial production is planned for Q3 2020.
Volvo CE in North America saw order intake jump by 40 percent in 4Q 2019, which it attributed to dealer restocking. Overall, the company saw net order intake increase by 6 percent during the quarter, driven by demand for SDLG branded machines in China and Russia.
Order intake in Europe declined by 5 percent, despite a strong increase in Russia. Europe order intake declined by 5 percent, Asia (excluding China) was down by 17 percent, and China was up by 14 percent. Volvo CE says it continues to gain market share in both wheel loaders and excavators in China.
Deliveries increased by 4 percent during the fourth quarter 2019, again boosted by higher volumes in China and Russia on SDLG products.
“2019 was another year of good performance on several levels,” says Melker Jernberg, president of Volvo CE. “We gained market share in the larger equipment category in North America and in Europe saw good developments in sales, operating income and cash flow.”