CNH Industrial has reported that its full-year consolidated revenue for 2015 was $25.9bn, down 9.2% compared to 2014 on a constant currency basis, and down 20.4% on a reported basis.
In the full-year figures for 2015, CNH Industrial’s construction equipment’s net sales were $2.54bn, down 18.3% compared to 2014 on a constant currency basis, and down 24.0% on a reported basis.
CNH blamed this on reduced industry demand, primarily in Latin America and the Asia Pacific region.
Worldwide, the group’s heavy products were down 18% in 2015, while its light products witnessed a drop of just 4% compared to 2014 – with decreased industry volumes in Latin America and Asia Pacific partially offset by growth in the NAFTA region.
The demand for heavy and light construction equipment was flat in the EMEA region (Europe, Middle East and Africa), as was its construction equipment’s global market share.
At the same time, construction equipment reported a 14% increase in its operating profit ($90m) in 2015, compared with 2014, despite the drop in sales – for reasons unknown, though it is likely that the group, like many others, has undertaken cost cutting measures in order to balance its books.
The roles of Case and its sister-company New Holland were also redefined last year, with Case concentrating on the construction industry and New Holland focusing on the agriculture sector.
