Volvo CE reports rise in Q3 sales
20 Oct 2021
Company sees 11% increase in the quarter on growth in N. America and Europe
Volvo CE increased its net sales by 11% in the third quarter of this year, with Europe and North America markets leading the charge even as sales in China declined 26% after many years of growth.
Net sales in the third quarter increased by 11% to SEK 19,638m, from SEK 17,619m in 2020. When adjusted for currency movements they were also up by 11% in the same period, of which net sales of machines increased by 11% and service sales by 13% - reflecting Volvo CE’s increased focus on services.
Adjusted operating income amounted to SEK 2,635m, compared to SEK 1,963m in the same quarter 2020 and corresponding to an adjusted operating margin of 13.4%.