Volvo Penta Sales Up In 2015

Swedish marine engine manufacturer Volvo Penta reported improved profitability for 2015, with increased delivery of engine volumes across both the marine and industrial segments, although the company said the leisure boat market remained unchanged from 2014.

The company’s net sales reached SEK 9.406 billion (US$1.13B) last year, a 21% increase over 2014 sales of SEK 7.790 billion (US$938m). Profitability was up 51% with operating earnings of SEK 1.102 billion (US$132m) for the year.

Volvo Penta sold 19,500 marine inboard and stern drive engines in 2015, up from about 17,400 units in 2014. Europe is Volvo Penta’s biggest market, accounting for nearly half of its marine sales, followed by Asia and North America. However, the strongest growth in 2015 came from its North American operations.

Sales increases were attributed to the popularity of the company’s recently introduced Forward Drive propulsion system, along with continuing popularity of Volvo Penta’s IPS engines, which marked their 10th anniversary in 2015.