Volvo Construction Equipment ended its 2004 financial year with strong fourth quarter results and announced it had sold an all-time high of nearly 30,000 machines. It was a 25% increase over the previous year.
During 2004, the company also executed on its plan of successfully divesting 90% of the LB Smith territories to strong, well-capitalized and experienced dealers. Volvo Construction Equipment sales in North America were up over 50% in 2004.
"The improvements in sales and operating income were due to higher volumes and price realizations," said Volvo CE's President and Chief Executive Officer Tony Helsham. "However, income was strongly impacted by negative currency effects and increased costs for raw materials."
The fourth quarter of 2004 saw the total world market for construction equipment within Volvo CE's product range increase by 17% compared to the same period in 2003. The North American market was up 27%, Western Europe up 13% and Asia up 2%.
