In the fourth quarter of 2010, net sales increased by 44% to SEK 14,657 M (10,159). Sales were positively impacted by strong momentum in Asia and South America. Adjusted for currency movements, net sales increased by 51%.
Operating income improved substantially to SEK 1,758 M (loss SEK 564 M) and the operating margin was 12%, which is the highest ever for a fourth quarter. The improvement in operating income was mainly driven by higher sales, internal cost reduction activities and improved cost absorption in the manufacturing system as well as increased productivity.
For the full year of 2010 Volvo CE increased unit sales by 70% and sold an all-time-high 66,000 machines. The value of the order book at December 31 was 45% higher than a year earlier.