CNH Global N.V. recently announced financial results for the year ended December 31, 2011. For the year, net sales increased 25 percent (22 percent on a constant currency basis) to $18.1 billion as agricultural equipment markets continue to perform well across the Group’s geographical portfolio, and as a result of the continued recovery in the construction equipment market segment.
Equipment Operations posted an Operating Profit of $1.5 billion on the strength of higher demand, with resulting increases in plant utilization, a favorable mix and improved net pricing for agricultural equipment, partially offset by fourth quarter European engine stock-piling costs.
Net equipment sales for the year were 79 percent agricultural equipment and 21 percent construction equipment. The geographical distribution of revenue for the period was 42 percent North America, 32 percent EAME & CIS, 16 percent Latin America, and 10 percent APAC markets.
Year-to-date capital expenditures totaled $408 million, a 36 percent increase from the comparable prior period largely as a result of engine environmental compliance programs and new product launches in both the agricultural and construction equipment segments; 72 percent of the capital spend was on new products and production capacity in the period.
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