Krone Overcomes Farm Machinery Downturn to Post Gains

Despite a significant downturn especially in the farm machinery industry and despite less-than-ideal conditions in the utility vehicle sector, the Krone Group generated sales of around $1.88 billion in the fiscal year 2015/2016, exceeding the previous year’s result ($1.67 billion).

Despite a significant downturn especially in the farm machinery industry and despite less-than-ideal conditions in the utility vehicle sector, the Krone Group generated sales of around $1.88 billion in the fiscal year 2015/2016, exceeding the previous year’s result ($1.67 billion).

Commercial trailer sales increased slightly over the previous year to $1.25 billio, generating $379.1million in the home market (previously $342 million), which translates into an increase of 10.6%.

The home market continues to be the most important individual market for this business segment and contributed 29.8% to the overall sales revenues. In foreign markets, Krone was able to increase its sales to $893 million (previously $788 million). Sales in Western Europe accounted for 41.0% of overall earnings while Eastern European markets contributed 26.6% (previous 21.4%).

Agricultural machinery sales, too, slightly increased again to $593 million in 2015/2016 (from $578 million in the previous year)—and 24.9% of these sales were generated in Germany (27.9% in the previous year), while Western European markets contributed 32.5% (previously 32.2%), North America an unchanged 20.5%, Eastern Europe 10.7% (previously 11.3%) and the rest of world 11.4% (previously 8.1%). The largest share was accounted for by the BiG line products – the self-propelled BiG X forage harvesters, the self-propelled and high-capacity BiG M mower and the Krone big baler and round baler models.

Group sales within Germany reflected a 4.6% increase over the previous year. Some 28.1% of Krone’s domestic sales were generated by the Agricultural Machinery division and around 71.9% by the Commercial Vehicle group. In total, the Krone Group recorded 28.2% of its sales in Germany (previous year: 29.4%). At 71.8%, sales outside Germany were up slightly on the previous year (70.6%). 33.3% of the Group’s sales outside Germany were generated by agricultural machinery and 66.7% by trailers.

 

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