Krone’s agricultural machinery division had a turnover increase of 11.1% to €813.5m in the 2020/2021 financial year (up from €731.9m in 2019/2020).
Meanwhile, the German manufacturer's commercial vehicle group, which specialises in building articulated trailers, reported a 17.8% increase in sales amounting to a turnover of €1.374m (versus €1.166m the previous year).
Combined, the Krone Group generated sales of around €2.2bn in the financial year 2020/2021, surpassing the results of the previous year (€1.9bn).
Interestingly, 75% of this revenue was earned in export markets, while the remaining 25% was within the German manufacturer's home market.
The group’s consolidated earnings before income tax for the financial year 2020/2021 increased from €42m to €95.9m, with its profit on sales standing at 4.4% (2.2% in the previous year).
“Against the backdrop of the pandemic and the uncertainties that come with it, our turnover of €2.2bn is a remarkable feat,” explains group chair Bernard Krone.
Not one to rest on his laurels, Mr Krone added that he is very optimistic that the company will raise its sales revenues again.
The group’s staff numbers also increased last year to 5,438 people, which were spread across more than 15 countries (previously 5,375).
The German manufacturer employees a total of 2,195 staff in its agricultural machinery division, up slightly on the previous year (2,163).