In mid-January, Spelle, Germany-based Krone reported its 2020-21 fiscal year results. Ag Equipment Intelligence has been charting Krone’s financial data performance for more than 10 years, as summarized below.
On Feb. 8, CNH Industrial reported its fourth quarter and full year 2021 results, the last year of operations prior to the demerger of Iveco Group effective Jan. 1.
Consolidated net sales totaled $24,965,000 for the 2021 fiscal year, which represents a 11.4% increase from consolidated net sales of $22,409,000 for the 2020 fiscal year.
For the fourth quarter, CNH reported consolidated revenues of $9.1 billion, up 7% vs. the fourth quarter of 2020. Agriculture net sales for the quarter were up just over 21% to about $4.2 billion.
Despite an estimated €10 million ($11 million) hit from Covid-related expenses over the past two years, the Krone Group’s transportation and agricultural equipment businesses secured increased profits on the back of higher turnover in its 2020-21 financial year.
Net earnings for the quarter were $7.9 million, or $0.72 per diluted share, compared with net earnings of $7.1 million, or $0.65 per diluted share, for the prior year first quarter.
Despite a backdrop of continued Covid-19 related challenges, Claas Group scored a near-19% increase in net sales during the 12-month financial period to the end of September to hit another record level.
A 36% increase in revenues from sales of tractor-mounted loaders and agricultural trailer components in the third quarter is helping drive Jost Werke towards €1 billion ($1.1 billion) turnover for the first time.
Each monthly issue of Ag Equipment Intelligence is like getting one-on-one personal advice from the world's most trusted ag equipment industry experts. Advice that hasn't been watered down or distorted by outside influence, providing the latest and most insightful farm equipment analysis. AEI explores where the ag equipment industry is going — not just where it's been. No filler. No bias. No conflict of interest. You can access the PDF issue archive by clicking here.
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.