Volvo Construction Equipment reported 2015 sales were down 3 percent compared to 2014, with 4Q sales down 11 percent over 2014 numbers. Sales for the year were about $6.1 billion (SEK 51,008 M). The company reported large declines in China and Brazil.

“In the face of a global market that remained flat to down during 2015, Volvo CE continued to execute on internal measures that drive profitability and resource efficiency,” said Martin Weissburg, president. “Despite lower sales, our operating results improved—and were much better than in the same period in 2014. We took market share in larger, more profitable machine segments, completed the exit [from] backhoes, graders and milling machines, and strengthened a new governance structure that allows us to make clear, informed decisions. This shows that the activities of the Volvo, SDLG and Terex Trucks teams to drive our transformation as Volvo CE globally are working.”

Source: Volvo CE