Volvo CE’s net sales for Q2 increased by 10 percent, amounting to $2.9 billion ($2.6 billion in Q2 2018). Operating income was also up at $446.4 million in the period, up from $395.0 million reported in the same period the year before. Operating margin was 15.5 percent.
Order intake increased by 6 percent overall in Q2, with SDLG branded products increasing by 28 percent. Order intake rose 21 percent in China, driven by strong demand for SDLG branded excavators and wheel loaders. Deliveries were also up 12 percent in the period, driven by growth in China and continued demand in Europe and North America.
The second quarter also saw growth in Europe and North America, with a small decline in Asia (excluding China). In the period up to May, demand for construction equipment was up 5 percent compared to the same period the year before. Demand for large excavators, road equipment, and articulated haulers pushed the North American market up 7 percent. South America also saw demand rise by 8 percent due to growth in the excavator segment.
Source: Volvo CE