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Article: China: Volvo Construction Equipment reports 1Q results.(Financial report)
- Article from:
- TendersInfo
- Article date:
- April 25, 2009
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Byline: sanjayV03
Volvo Construction Equipment experienced a significant drop in both sales and income as the total world market for heavy, compact and road machinery equipment decreased by 48% in the first quarter of 2009 when compared to the same period the year before.
Despite rises in market share in many markets and product segments, Volvo Construction Equipment saw net sales in the first quarter decline by 46% to SEK 8,172 M (SEK 15,115 M in Q1 2008). The operating loss amounted to SEK 1,395 M compared to an operating income of SEK 1,301 M in the same period in 2008. The operating margin was negative 17.1% compared to a positive 8.6% in the year ...