Despite difficult weather conditions and the equally difficult political and economic outlook, the Krone Group’s agricultural machinery division finished the 2017/2018 financial year with a turnover of €642.3 million.
Up 10.2% over the previous year, Germany remains the strongest market accounting for nearly 30% of sales (previously 27.3%). The company also enjoyed growth in all other markets; Western Europe 35.1% (previous year 33.1%), Eastern Europe 11.4% (previous year 9.9%), North America 11.9% (previous year 15.4%) and all other countries 12.0% (previous year 14.3%).
The company invested €67 million in its production facilities and products. Most of this was earmarked for the commercial trailer division and includes a new and €40 million-costing (highest single investment in the company’s history) cathodic dip-painting and powder-coating facility for trailer chassis and semi-trailers at the Werlte production site.
Various measures were implemented to expand the manufacturing and assembly capacities at the Spelle facility and Krone continues to expand its product lines and update existing models. Last year’s highlights included the updated Premos pellet harvester and the 1,156hp Big X 1180.
When the agricultural machinery and commercial trailer divisions are added together, Krone Group turnover for the 2017/2018 financial year rose to a record €2.1 billion (2016/2017 €1.9 billion).
Bernard Krone, managing partner of the Krone Group, says that the medium-sized and family-run enterprise benefits from being quick, flexible and innovative. “The repeated increase in sales bears testimony of our successful strategy of positioning ourselves as a provider of excellence of comprehensive services for commercial trailers and agricultural machines.”
