John Deere presents 2023 Business Impact Report

John Deere, a global technology company that provides software and equipment to the agricultural, construction and forestry sectors, demonstrated advances in its 2023 Business Impact Report, highlighting the company's commitment to innovation, sustainability and diversity.

Last year, the company stood out for the substantial increase in connected hectares, reaching 388 million, and expanded its number of connected machines to 650 thousand, an increase of 150 thousand machines compared to the previous year. In the field of sustainability, there was a 15% reduction in Greenhouse Gas (GHG) Emissions.

The area of ​​diversity, equity and inclusion (DEI) was also an important focus, with an increase in the representation of women in positions related to STEM (Science, Technology, Engineering and Mathematics) from 15,2% to 19,8% within the corporation . Additionally, the company expanded its social impact through the John Deere Inspire program, serving more than 113.000 young people in several countries, and expanded its philanthropic contributions, totaling US$74,5 million in 2023, reinforcing its commitment to the communities where it operates .

Financial results

Financially, John Deere maintains a successful trajectory, reporting net income of US$10,17 billion and net sales and revenues of US$61,25 billion. In 2022, net profit was US$7,131 billion, with US$47,917 billion in net sales and revenue. 

Strategic goals

John Deere has established a comprehensive set of strategic goals to guide its operations in the coming years. Are they:

• Expanded Connectivity: reach 1,5 million connected machines by 2026, strengthening the integration and efficiency of equipment in the agricultural, construction and forestry sectors. Currently, there are more than 650 thousand.
• Solutions as a Service: implement a "Solutions as a Service (SaaS)" business model, aiming to offer integrated solutions that meet the specific needs of customers in a more efficient and sustainable way.
• Battery and biofuel technology: investing in battery and biofuel technology as part of the effort to develop low- and no-carbon alternative energy solutions. Recently, John Deere announced the concept of a 9.0L ethanol engine at Agritechnica 2023. Additionally, in 2022 the company acquired Kreisel Electric, an Austrian company that develops cutting-edge battery technologies.
• Hectare engagement: Expand partnership with customers through Connected Hectares to unlock innovation and optimization opportunities for farmers.
• Efficiency in crop protection and nitrogen use: set efficiency targets for crop protection and nitrogen use to boost productivity and reduce CO2 emissions for agricultural sector customers.
• Adoption of smart solutions: drive the adoption of smart solutions to deliver greater precision and unlock more productivity and profitability on job sites, especially in earthmoving, road construction and forestry.
• Talent development: attract and retain the best talent to face some of the biggest global challenges, investing in professional development and promoting a culture of continuous learning.
• Diversity, equity and inclusion (DEI): incorporate DEI principles into all aspects of John Deere's operations to create a more diverse, inclusive and equitable workplace.
• Safety at work: maintain a safety-focused mindset, with the goal of improving the total recordable incident rate by 20% by 2026.
• Support for small farmers and local communities: continue supporting small-scale and resource-limited farmers, as well as local communities, through development programs, partnerships and philanthropic initiatives.