DGAP-News: Ekotechnika reports continued growth on the back of John Deere agriculture equipment
(firmenpresse) - DGAP-News: Ekotechnika GmbH / Key word(s): Final Results
Ekotechnika reports continued growth on the back of John Deere
agriculture equipment
25.02.2013 / 12:01
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Ekotechnika reports continued growth on the back of John Deere agriculture
equipment
- Largest distributor of international agriculture equipment in Russia
increases sales by more than 20%
- John Deere, the single biggest supplier, accounts for more than two
thirds of sales
- Earnings before interest and taxes at EUR 15.4 million (+380%)
- Russia is one of the industry's most important growth markets
Walldorf, 25 February 2013 - Ekotechnika GmbH, the German holding company
of the Ekoniva Technika Group, the largest distributor of international
agriculture equipment in Russia, reports a substantial sales increase for
the financial year 2011/2012 (September 30). Revenues rose by around 21% to
EUR 169.6 million. This surge was driven by the ongoing modernisation in
Russia's farming sector as well as the rising prices of agricultural
commodities which offer farm operators a safe basis for investment. The
Group's operating result (EBIT) came in at EUR 15.4 million, up 380% on the
prior year, translating into an EBIT margin of just under 10%. Cash flow
from operations amounted to EUR 18.3 million.
Ekotechnika mainly sells agriculture equipment made by worldwide industry
leader John Deere and is one of the top three John Deere dealers in Europe.
Products from this world-leading US company accounted for more than two
thirds of 2011/2012 sales. Other suppliers apart from John Deere include
such German manufacturers as GEA, BvL and Grimme. Ekotechnika is the
largest distributor of international farming equipment in Russia where it
is active in three sales regions whose combined size is equivalent to
Germany, Italy and France.
Agriculture equipment remained one of the fastest growing sectors worldwide
also in 2012. According to figures from German engineering industry
association VDMA, the global volume rose by 8% year-on-year to EUR 86
billion in 2012. Russia is considered one of the markets offering the
greatest potential for international manufacturers, given that the farming
sector in the world's largest territorial state is still in need of
substantial modernisation. Only last summer the Russian government renewed
its agricultural promotion programme which will be worth the equivalent of
EUR 57.5 billion through 2020.
Ekotechnika's growth during the financial year 2011/2012 was mainly
generated in the new equipment segment which improved from EUR 104 million
to approximately EUR 141 million, with the company selling just under 2,000
machines during the reporting period. Spare parts sales and service
revenues already amounted to EUR 25.5 million and EUR 3.3 million,
respectively. Over the coming years both after-sales segments are to be
expanded significantly in line with the growing number of customers.
'The past three years have seen us grow at an average rate of 28% per year
and we intend to keep up double-digit growth in the coming years. We are
backed by a strong partner, namely world market leader John Deere, a
company who continues to lead the industry in terms of quality and
innovation,' said Wolfgang Bläsi, Managing Director of Ekotechnika GmbH.
Ekotechnika plans to further expand its branch network in its main regions
of Central Russia, the Central Black Earth Region and Siberia in the coming
years and to continue on its profitable growth course. Its target is to
double sales of new machines and to treble after-sales (parts and service)
revenues by 2016.
About Ekotechnika
Walldorf-based Ekotechnika GmbH is the German holding company of the
Ekoniva-Technika Group, the largest distributor of international
agriculture equipment in Russia. The company's single most important
supplier is John Deere&Co., the world's leading manufacturer in this
field. In addition, Ekotechnika sells equipment from another 11
market-leading manufacturers. Its main business is in selling new equipment
such as tractors but also milking equipment and precision farming
technology. In addition, the company sells spare parts and provides service
and maintenance. Ekotechnika's founder and main shareholder is Stefan Dürr,
who has been active in the Russian farming sector since the late eighties
and has been instrumental in its modernisation over the past two decades.
In 2011 the equipment business was separated from the farming business,
which now operates independently under the name Ekosem-Agrar. Operating 12
locations in attractive Russian farming regions, Ekotechnika today employs
625 people and generates sales of just under EUR 170 million.
Contact
Ekotechnika GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf, Germany
T: +49 (0) 6227 3 585 90
E: presse(at)ekotechnika.de
www.ekotechnika.de
End of Corporate News
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202203 25.02.2013
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Datum: 25.02.2013 - 12:01 Uhr
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