Krone sales reach record €1.9bn

Werlte, Germany: Krone Group reports sales at €1.9bn (previously €1.8bn) for its financial year 2016–2017.

Krone sales reach record €1.9bn

Krone sales outside Germany increased sales to €956m

Domestic sales rose 1.6% to €515.5m with commercial vehicles accounting for almost 70% with agricultural machinery accounting to the remainder. Some 27% of sales were in Germany, Krone’s largest market. Foreign sales were up 7.6% to €1.4bn.

Commercial vehicles sales of €1.3bn maintain the previous 27.2% market share in Germany. Krone’s sales outside Germany increased to €956m (from €855m the previous year. Western European markets account for 43.8% (previously 41%) and Eastern Europe for 21.6% (previously 26.5%) of sales.

Bernard Krone, mnaging partner Krone Holding said: “The commercial vehicle business benefitted from our strategy of moving closer to our customers. In addition, we noticed a great demand for the services we offer, especially in digitisation and telemetrics which are features that contribute significantly to a more efficient and economical use of machines and vehicles.”

“Moreover, our investments in our German production sites in Werlte and Herzlake reflect our commitment to these local regions. We are very confident about the future of our business which after all caters for two global mega trends – the increasing world population and connectivity. These trends lead to a consistently growing demand for food and to an increase in freight transportation.”