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CNH Global N.V. has announced financial results for the year ended December 31, 2011. For the year, net sales increased 25% (22% on a constant currency basis) to $18.1 billion as agricultural equipment markets continue to perform well, 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% agricultural equipment and 21% construction equipment.
CNH's Equipment Operations ended the period with a net cash position of $2.7 billion.
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Source: CNH
