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

  • Volvo CE boss highlights company success in China
    November 28, 2012
    Volvo Construction Equipment (Volvo CE) has invested over US$150.93 million (SEK1bn) in expanding capacity and construction equipment offering in China and had secured a leading position in national wheeled loader and excavator sales, said Volvo CE president Pat Olney. The Swedish construction equipment manufacturer is also keen to develop its SDLG brand, which, Olney stressed, has helped Volvo CE secure its status in the Chinese wheeled loader and excavator market.
    Read More
  • Cummins sets new quarterly trading record in strong growth period
    November 6, 2023
    Cummins has set a new quarterly net cash from operating activities record of US$1.5bn, a huge rise on the $382mn in Q3 2022.
    Read More
  • German firms see improving market share
    March 1, 2017
    In 2016, German manufacturers of construction equipment achieved a turnover of €9.3 billion, an increase of 3% compared to 2015. Of note though is that the same period, global sales of construction equipment declined by 1%. German companies managed to perform better than the world market and develop market share. In 2017, they expect another increase in sales by 3%.
    Read More
  • Hill & Smith reports strong financial performance
    November 18, 2016
    Hill & Smith Holdings reports a healthy performance for the period 1 July 2016 to 31 October 2016. The firm’s board says that trading has continued to be encouraging and that it expects Group trading performance for the current financial year to be at the top end of market expectations. The group’s results will also benefit from the positive translational impact on its overseas earnings from the recent weakness in Sterling.
    Read More

Highlighted Content