The milk price recovery first signalled late 2016 has had a positive effect on Krone’s agricultural machinery division. Fuelled by a buoyant demand for new machines during the second half of last year, the division closed 2017 with total sales of €582.8 million (previously €569.8 million).
Germany took 27.3% of all Krone agricultural equipment sales (up from 25.1% in the previous year), and the division accounted for 30.7% of total Group export sales of €1.4 billion. West European markets contributed 33.1% (2016: 32.4%), eastern Europe 9.9% (2016: 10.6%) and the rest of world 14.3% (2016: 11.4%). “Initially, the low milk prices were a concern for our agricultural machinery division, but fortunately these prices recovered significantly during the year,” said managing partner Bernard Krone of the Krone Holding.
The average number of permanent staff employed around the world by the Krone Group rose to 4,497 (2016: 4,281), and total investments were around €76 million (previously €37.1). Notable investments included upgraded manufacturing capacities at the Spelle factory.The Krone Group (includes commercial vehicle group) closed 2017 with total sales at a record level of €1.9 billion (2016: €1.8 billion).
