Bolstered by improving market conditions and the positive impact of its transformation program, Volvo Construction Equipment saw sales increase by 30 per cent in the first quarter of 2017

Improving market conditions in all regions except South America helped Volvo Construction Equipment (Volvo CE) report strong growth in sales, profitability, order intake and deliveries in the first quarter of 2017. 

“After years of tough market conditions, the Volvo CE business is growing again,” commented Volvo CE’s president Martin Weissburg. “Higher sales volumes linked with increased internal efficiency and a lower cost base helped us deliver good profitability levels during the quarter. Volvo CE is on the right track, the improvement plan is yielding results and there are further opportunities to improve the long-term competitiveness of the company.”

During the first three months of 2017 Volvo CE saw net sales jump by 30 per cent to SEK 16,163 M (SEK 12,452 M in Q1 2016). Operating income was also positively impacted, rising to SEK 1,617 M, up significantly compared to SEK 341 M in the first quarter of 2016. Operating margin also saw good improvement, at 10 per cent, compared to 2.7 per cent in the same period the year before.

In the first quarter of 2017 Volvo CE also enjoyed an increase in order intake, which rose by 34 per cent to 17, 487 machines, with increases in orders coming from all markets, but particularly China and Europe. Deliveries were also up 34 per cent during the period, to 16,369 machines.

The African Trade Insurance Agency (ATI) announced that Côte d’Ivoire has joined a growing list of African countries who are members of the institution

Self-made billionaire Dr. Mo Ibrahim talks about the public image of Africa, corruption and how good governance is vital to reforming the continent in the long-term

The new industrial and technology hub, located close to the city of Tangiers, will be funded by Chinese group Haite 002023.SZ, BMCE's Bank of Africa and the Moroccan government

International law firm Clifford Chance show that the African merger and acquisition (m&a) footprint is increasing in 2016, despite the market deal volume being down a third throughout Africa in 2016