Krone reports explosive growth

Spelle, 7th of january 2013. Reporting a turnover of approx. €1.4 billion, the Krone group has almost reached another record fiscal year 2011/2012. This excellent performance is particularly impressive and compares to €1,314.9 billion sales revenues in the previous year when the Trade and Services division still formed part of the group. The division was hived off from the rest of the group within the context of anticipated succession procedures. Consequently, as of 01 August 2011, the consolidating procedures no longer apply to the Trade and Services division.  While domestic sales decreased to €464.6 million (from previous €538.9 million), export sales increased to €925.7 million (from previous €776 million), which translates into 33.4% of group sales being generated in the domestic market and about 66.6% in foreign markets.

The Commercial Trailers division (comprising the Krone trailer factory and its subsidiaries) continues to account for the biggest share in the group sales with annual sales worth €878 million (9% increase over the previous year). Krone manufactured approximately 27,000 trailers in the past fiscal year, most of which were marketed in Germany (34%), followed by Scandinavia (23%), central Europe (22%) and eastern Europe (21%).
Record sales are reported by the Agricultural Machinery division (comprising the Agricultural Machinery factory and its subsidiaries), which generated a total €512 million in 2011/2012 (from previous €410 million). The factory at Spelle manufactured more than 20,000 machines, 33% of which were sold on the German market, 35% in central Europe, 17% in eastern Europe and 15% in our overseas markets (including the US, Japan, Australia, New Zealand and China).

Sustained growth is also recorded in the financial field, with the group's equity capital increasing from €255.9 million to €284.3 million during the past fiscal year. Medium and long-term assets available to the Krone group amount to approx. €530 million (€393 million in the previous year). Investments also increased from €11.7 million to €14.8 million) and centred on the new logistics centre at our Spelle headquarters as well as on three new operations in the US (in California and Wisconsin) and new utility vehicle dealerships in Turkey, Budapest and the Netherlands.

"Once again the group reports a remarkable result for fiscal 2011/2012, which is owed to our innovative products, our sound financial situation and the outstanding loyalty of our customers. With both the agricultural machinery and commercial trailers industries being definitely industries of the future, we anticipate a moderate growth from the existing high sales level for the current fiscal year", forecasts Managing Partner Bernard Krone.