INCREASED SALES CONFIRMED

The Amazone Group has announced that they remained on course with their projected growth, having completed another financial year under what they describe as "challenging market conditions" and having exceeded the sales milestone of 850 million euro in the 2023 financial year.

The annual results of the agricultural and groundcare machinery manufacturer shows an increase in sales of around 6%, following the 22 % increase in 2022. As a result, total sales for the company have reached a new record high of 852 million euro in the 2023 financial year (previous year 2022: 804 million euro).

In the first half of 2023, the company says a high order intake level produced a tense situation with sub-suppliers, which partially led to bottlenecks and delays in production. The situation generally settled down in the second half of the year.

In an official statement the company confirmed, "In addition, the consequences for trade were, and still are, virtually impossible to assess because of geopolitical conflicts which remain highly relevant. From the business aspect, we are watching the developments in the regions affected with great concern.

"Notwithstanding the challenging economic environment, Amazone recorded exceptionally high global demand for modern agricultural machinery enabling it to increase production capacity and profitability in 2023."

The statement continued, "The consistent high export level of around 80%, together with more intensive market evaluation, contributed to the positive development of sales in 2023. It was for this reason that investment in the future continued last year."

Looking ahead for the outlook for 2024, the company said, "Global economic conditions remain volatile and agricultural businesses are facing further difficulties. At the present time, a reticence to purchase is clearly apparent. We will keep an eye on current events and, as always, we will act with commitment and a sense of proportion, and we will continue to make every necessary investment."