Volvo Penta Reports Record Q2 Sales

Volvo Group, parent company of Volvo Penta, yesterday announced record second quarter results for its marine propulsion unit.

“Volvo Penta continued to perform well, with good demand for both marine and industrial engines,” Volvo Group president and CEO Martin Lundstedt said in a statement.

The company reported that for the second quarter, ending June 30, Volvo Penta net sales grew 16 percent to SEK $4.6 billion ($437.9 million), a record for a single quarter. Adjusted operating income for the quarter was SEK $699 million ($6.65 million), up 13 percent compared with the year ago quarter. The propulsion unit’s adjusted operating margin was 15.2 percent in the quarter.