MILAN, (Reuters) – CNH Industrial (NYSE :), an industrial and agricultural machine maker, announced Tuesday it saw a 9% increase in operating profits in its first quarter due to a healthy demand despite adverse conditions like war in Ukraine or higher energy costs.

In the January-March period, company’s adjusted earnings (before interest and taxes) for industrial activities reached $429 millions. The company exceeded the $391million forecast by Reuters analysts.

CNH Industrial, Milan listed shares, extended gains after the publication of results. By 1240 GMT they were up 1.7%