VOLVO Construction Equipment has reported a ‘solid’ set of financial results for the first quarter of 2019, with sales up 15% and profitability up 26%.
The manufacturer said ‘stable’ market conditions in most regions contributed to the results, with deliveries up 5% to 23,139 machines, compared to 22,102 machines in Q1 2018.
Volvo said the European market was driven by ‘good demand’ from Germany, the UK and Italy, while growth in North America was boosted by growing demand for large wheel loaders, road equipment and articulated haulers.
Volvo CE president Melker Jernberg said, “The global market for construction equipment remained good in the first quarter. We are successfully managing these increases in volumes, and this good cost control is helping to deliver encouraging levels of operating income and operating margin.”
