Volvo Construction Equipment set new records in 2006, with a sales gain of 17 percent and a jump of 41 percent for operating income. The company also reached an all time high of machines sold in a 12-month period with more than 37,000 sold last year, up 11 percent from 2005.
Volvo CE’s fourth quarter results were also strong. Net sales increased by 4 percent and when adjusted for currency movements net sales increased further to 12 percent.
The total world market for construction equipment within Volvo CE’s product range also increased 5 percent compared to 2005. While the U.S. market for construction equipment was down 20 percent due to a cooling housing market, continents such as Europe and Asia rose considerably to 7 and 15 percent, bringing the total world market for heavy and compact equipment up 9 percent.