Double digit increase in Krone revenue

Despite the difficult market environment, Krone’s agricultural machinery division increased sales by 11.1% in the 2020/2021 financial year to €813.5m (€731.9m in 2019/2020).

by Steven Vale

11 Jan 2022

When added to the commercial vehicle division (revenue up 17.8% to €1.3b) the Krone Group generated sales of €2.2b (previous year €1.9b) in the a financial year that ended on July 31, 2021.

“Against the backdrop of the pandemic and the uncertainties that come with it, our turnover of €2.2b is a remarkable feat,” explains chairman Bernard Krone, who is optimistic that the company will be able to increase revenues again during the current busines year.

The Group’s consolidated earnings before tax for the period increased from €42.0m to €95.9m and the Group’s profit on sales stood at 4.4% (2.2% in 2019/2020).

Krone Group staff numbers also increased last year to 5,438 in more than 15 countries (previously 5,375). The number of employees in the agricultural machinery division was up slightly to 2,195 (previous year 2,163).