The German manufacturer of Amazone agricultural and groundscare equipment shrugged of the coronavirus challenges to set a new record turnover for the 138-years old company.
Buoyant demand from farmers in Germany for agricultural tractors, machinery and equipment brought the country’s largest dealer network a record sales performance in 2020.
During an exceptionally busy year for SDF Group, a voluntary shut-down of the Treviglio headquarters factory in northern Italy and extensive re-organization to protect staff from Covid-19 infection spurred the business into accelerating its wide-ranging digitalization program.
The timely acquisition of Quicke tractor loader manufacturer Ålö Holding last year – see Ag Equipment Intelligence online April 28, 2020 – cushioned new owner Jost group from the effects of a weak commercial vehicle market.
Revenue for the quarter was $64.6 million, up $4.8 million from the prior year second quarter, representing an 8% increase over the prior year and continuing the sales growth seen in the first quarter.
Ag Growth International (AGI) finished out the first quarter of 2021 with trade sales of $256 million, up 12% year-over-year, and with a strong outlook for the remainder of the year.
Cervus Equipment, John Deere’s largest Canadian dealership group, reported $3.2 million in adjusted income before tax, up significantly from just $0.5 million in the first quarter of 2020.
The revenue decrease is primarily due to the reduced volume from a North American VAR customer that allegedly breached a supply agreement with AgJunction and infringed certain of its patents.
Net sales for the first quarter of 2021 were $403.5 million, compared to net sales of $341.5 million for the first quarter of 2020, representing a $62 million, or 18.2%, increase.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.