At the 2015 Agritechnica, Zetor Tractors announced ambitious plans to sell 4,500 tractors in 2016, and increase turnover levels to €180 million. In the event, the firm did not escape the downturn in the European tractor market, and last year Zetor sold just 3,144 new tractors, and recorded a turnover of €118 million. Profit levels also fell by 9% to €4 million before tax.

The Czech tractor maker remains upbeat, and expects the markets to stabilise this year, and the new goal is to maintain and possibly slightly improve on 2016 results. 86% of last year’s production was exported to over 40 countries, and the plan is to maintain and strengthen its position in Europe and North America and increase its presence in other areas of the world. During the past two years, the company has expanded into eight new markets in Asia and Africa, and recently signed an agreement with a new partner on the supply and production of Zetor tractors in Russia. “We continue to work on extending our product portfolio, strengthening positions in western markets and expanding into new markets,” said financial director Lukáš Krejčíř.

The company currently employs 660 people in Brno and another 90 members of staff in six affiliations abroad: in the US, the UK, France, Germany, Poland, and India. Last year, the company invested over €8 million in R&D, sales and marketing.