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05.02.2025 | 16:37 (UTC -3)
AGCO Corporation ended 2024 with a 19,1% decline in revenue, totaling $11,7 billion in sales. Adjusted operating margin was 8,9%.
AGCO CEO Eric Hansotia highlighted that, despite a challenging scenario, the company managed to maintain relatively high operating margins, reducing production hours by 33% and ending the year with lower inventories.
Regional performance
The agricultural machinery sector faced a global decline in 2024.
In the United States, tractor sales fell 13%, and combine harvester sales fell 22%.
In Brazil, the decline was 4% for tractors and 33% for harvesters, reflecting economic uncertainties and difficulties in agricultural credit.
In Western Europe, tractor sales fell by 6%.
Prospects for 2025
For 2025, AGCO projects revenue of $9,6 billion and earnings per share between $4,00 and $4,50.
The company said it will continue its restructuring to reduce costs and improve efficiency.
The focus will be on expanding the Farmer-First strategy, with investments in digital agricultural technology and precision solutions.
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