Volvo CE sees strong third quarter results

Volvo CE is bullish and claims a strong financial performance in its third quarter sales figures. The company claims it has made market share gains in key segments while its financial results have also benefited from good cost control and growing demand in most areas. Volvo CE says it has had an especially strong third quarter for 2017 with sales up 34% to US$1.847 billion (SEK15.1 billion) compared with $1.41 billion (SEK11.54 billion) for the same period in 2016. Meanwhile order intake for the third quart
October 20, 2017 Read time: 2 mins
359 Volvo CE is bullish and claims a strong financial performance in its third quarter sales figures. The company claims it has made market share gains in key segments while its financial results have also benefited from good cost control and growing demand in most areas. Volvo CE says it has had an especially strong third quarter for 2017 with sales up 34% to US$1.847 billion (SEK15.1 billion) compared with $1.41 billion (SEK11.54 billion) for the same period in 2016. Meanwhile order intake for the third quarter has increased 45% compared to 2016, while deliveries have gained 48% for this period. Operating income has jumped an impressive 237% to $247.83 million (SEK2.02 billion) from $73.6 million (SEK601 million) in 2016. Profitability has also made major gains, aided by the strong sales, high levels of throughput in the firm’s manufacturing facilities and also from the sale of its UK dealership operation.


Net order intake in the third quarter increased by 45% compared with the same quarter in 2016. This increase was assisted by higher intake from China, as well as growth in other Asian markets and Russia. Deliveries increased by 48%, to 14,431 machines.

Up to the end of August, the European market was up 15%, driven by the growth in the UK, France and Italy. The German market is slightly above last year, while the recovering Russian market is up 101%. North America is 7% above last year, due to growth in demand for excavators, both compact and larger general-purpose machines. The South American is 6% above last year but remains at very low levels. In Asia (excluding China) the total market is 12% above last year, with continued growth in India and Indonesia, helped by a recovering mining sector. The Chinese market is 74% above last year, with strong recoveries in both excavators and large wheel loaders.

“This is an especially strong performance. Volvo CE has responded well to the growing demand, with volume increases up 48%, while at the same time taking a significant step up in profitability,” commented Martin Weissburg, president of Volvo Construction Equipment. “We also continue to gain market share within our product and market strongholds.”

Finance & Funding

Related Content

  • Construction machine sales strengthening in Italy
    November 28, 2016
    Construction machine sales are strengthening around the globe. A report from the SaMoTer-Veronafiere Outlook reveals that 7,551 construction machines were sold in Italy over the period from January-September 2016. This represents a gain of 32% from the same period in 2015 and a further increase of 37% is estimated in Italy for the two-year period 2017-2018. Worldwide the first nine months of 2016 saw sales around the world of 496,500 earth moving machines, a drop of around 5,000 less (1%) compared to th
    Read More
  • Deutz delivers on strong corporate results
    July 11, 2018
    German engine maker Deutz reports that its financial results reveal a successful level of trading for the first half of 2018. The firm’s preliminary financial results for the first half of 2018 show that the volume of new orders rose by 36.6% compared with the same period in the previous year. New orders hit €1.097 billion compared with €803 million in the first half of 2017. Following the strong start to the year, new orders were also very high at €522 million in the second quarter of 2018, a 30.5% increas
    Read More
  • Cummins reports strong performance for first quarter
    May 3, 2023
    Cummins is reporting a strong performance for first quarter of 2023.
    Read More
  • Earthmoving machine sales improved
    April 2, 2019
    have increased since the second half of 2017. In particular, in Germany and France the main constraint is a shortage of labour, while in Spain or the United Kingdom the main brake is demand. Sustained dynamics for investments in Central Eastern Europe, with the exception of the construction market in Turkey, going decidedly against the trend compared to 2017. Overall, however, the implementation of EU funds during the 2014-2020 programming cycle has supported construction, particularly civil engineering.
    Read More

Highlighted Content