AGCO reported net sales of approximately $2.6 billion for the fourth quarter of 2018, an increase of about 2.6% compared to net sales of approximately $2.5 billion for the fourth quarter of 2017.

Excluding unfavourable currency translation impacts of approximately 4.7%, net sales in the fourth quarter of 2018 increased approximately 7.3% compared to the fourth quarter of 2017.

Net sales for the full year of 2018 were $9.4 billion, an increase of 12.6% compared to 2017. Excluding the favourable impact of currency translation of approximately 0.1%, net sales for the full year of 2018 increased approximately 12.5% compared to 2017

The VADERSTAD Group generated 27% more turnover in its 2018 financial year.

The manufacturer of tillage equipment, precision planters and seed drills in Sweden, and Seed Hawk air seeders in Canada, recorded €300 million ($339 million) for the first time, with net profit amounting to €11.8 million ($13 million). 

“The drought in 2018, especially in northern Europe, resulted in lower yields in many of our normally strong markets,” said Mats Båverud, president and CEO. “However, cereal prices rose in the autumn, so despite weather-related challenges, we see an increased interest in investing in soil cultivation machines and planters, which increases the crop for farmers in the aftermath of drought.”

During the 2018 financial year, Väderstad Group’s recent years of growth accelerated, with revenues increasing by 27% compared with 7% in 2017 vs. 2016 and 5.5% in 2016 compared with 2015.The business has continued to take charge of distribution in several of the 40 countries where it is represented, with new sales subsidiaries set up in Russia and Ukraine maintaining their positions