NEWS ROOM
MANUFACTURERS SHOW STEADY FINANCIAL IMPROVEMENT THROUGH END OF 2021
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heavyequipmentguide.ca | FEBRUARY 2022
eavy equipment manufacturers are seeing improvements in their financial results as recovery from pandemic challenges continued in 2021. After the market challenges of 2020, Caterpillar has shown strong financial results with a significant increase in sales and revenues both in its fourth quarter and the full year of 2021. The company posted $13.8 billion USD in sales and revenues through the fourth quarter, a 23 percent increase from the same period in 2020. Over the full year, sales and revenues were $51 billion, a jump of 22 percent from the $41.7 billion reported in full year 2020. Increases are driven by a higher end-user demand for equipment and services, as well as changes in dealer inventories, the company stated. Meanwhile, Volvo Construction Equipment has continued solid growth with high infrastructure investment particularly across Europe, North America and South America, and increased revenue from services, the company has reported. A decline in China is due to a saturated market for excavators following last yearʼs high sales levels and the overall slowdown in construction and infrastructure investments across the region. In Q4, 2021, net sales increased by 5 percent to SEK 21,812 M (20,810 M). Adjusted for currency movements net sales increased by 2 percent, of which net sales of machines were flat and service sales increased by 14 percent. Primarily impacted by the decline in the Chinese market, global order intake decreased by 24 percent and deliveries decreased by 18 percent for the final quarter. For the full year 2021, net sales amounted to SEK 92,031 M – rising from SEK 81,453 M from last year and demonstrating that the global market is continuing to spring back from the initial hit caused by the disruptions of 2020.
