AGCO, the worldwide manufacturer and distributor of agriculture equipment, has announced net sales of $2.6bn (€2.3bn) for the fourth quarter of 2018. This leaves net sales for the fourth quarter of 2018 2.6% ahead of the same period in 2017.

Net sales for the full year of 2018 reached $9.4bn (€8.2bn), approximately 12.6% up on total sales for 2017.

Sales across western Europe for equipment decreased modestly in the year gone by. Lower crop yields and lower milk prices are said to be partly reason for this decrease.

However, 2019 looks set to be a brighter year for western Europe thanks to closer to normal crop production, with more favourable wheat prices.

Europe

Focusing on Europe, AGCO’s sales for 2018 increased 13.3% when compared with 2017. Sales growth was achieved in AGCO’s key markets of Germany, France and the United Kingdom.

Operations income improved considerably due to higher sales and margin improvements.

According to AGCO’s chair and CEO, Martin Richenhagan, financial targets for 2018 were met, delivering improved results.

AGCO continues to grow the business by delivering a broad product offering to its customers, from soil preparation right through to harvesting.

AGCO’s president also noted that the brand will continue to invest in new technology, with a positive forecast for the year ahead.