Kuhn Group’s parent company, Bucher Industries, reported net sales for Kuhn Group of $1.61 billion, down 5.9% year-over-year, in its 2023 earnings report released March 1.
Bucher Industries’ (parent company for Kuhn Group) third quarter earnings report, released Oct. 26, reported Kuhn Group’s order intake for the first 9 months of the year totaled $944.9 million vs. $1.36 billion in the same period last year.
Bucher Industries, which owns Kuhn Group, released its second quarter 2023 earnings report July 27 and reported Kuhn Group’s net sales for the first half of the year totaled $971.4, up 6.6% year over year.
A press release from Bucher Industries, Kuhn Group's parent company, stated, "Bucher Industries’ monitoring systems identified an attack by malware on the IT infrastructure of the division Bucher Municipal."
Kuhn Group’s order intake was a bright spot in a period when the COVID-19 pandemic created production, distribution and sales challenges that caused a dip in revenues relative to 2019.
A strong order book at the beginning of the year was a welcome legacy for Kuhn’s commercial activities last year as 2019 ended with only a modest drop in net sales as a challenging North American market dimmed prospects for 2020 figures.
The €20 million ($22.6 million) facility has gradually been brought into operation over recent months to handle in-flows of raw materials and components for manufacturing operations at the plant.
Fueled in part by its growing North American sales, the Kuhn Group reported that, while its net sales in 2013 grew by 5% vs. the previous year, its profits rose by nearly 25% and profit margins increased by 2.5%.
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, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.