Krone revenue tops €2 billion…in a record year

Against the backdrop of a “sometimes difficult environment” in the agricultural machinery and commercial trailer industries, the Krone Group finished the 2017/2018 financial year (August 1, 2017, to July 31, 2018) with a record turnover of €2.1 billion.

This marks a significant increase over the previous result (€1.9 billion).

Germany – Krone’s home market – accounted for €582.9 million (an increase of €67.4 million or 13.1%). About 67% of domestic sales was accounted for by the commercial vehicles division. 33% was accounted for by the agricultural machinery business.

Sales in markets outside Germany amounted to €1.5 billion (nearly €171 million or 12.4% up on the previous year). 71% of these export sales were generated by the commercial vehicles business and 29% by the agricultural machinery division.

International business accounted for 72.7% of total sales. That’s roughly equivalent to the level of the previous year (72.8%).

Number of employees

The Krone Group employed 4,897 staff in its most recent financial year (versus 4,497 permanent staff in the previous year). This figure includes 278 apprentices (previously 243).

The increase in permanent staff is accounted for by an increase in business activities and the expansion of Krone’s sales networks in both divisions.

Commercial Vehicles SA (the trading name of the commercial vehicles division) employed 2,694 staff. Krone Agriculture employed 2,063. 140 were employed by the holding company, working at various offices and locations.

Bernard Krone, managing partner of the Krone Group, said: “The repeated increase in sales bears testimony [to] our successful strategy of positioning ourselves as a provider of excellence of comprehensive services for commercial trailers and agricultural machines.

“Furthermore, as a medium-sized and family-run enterprise we benefit from being quick, flexible and innovative.”

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