In Germany, Krone generated sales of 582.9 million euros, which corresponds to an increase of 67.4 million euros (13.1%). The commercial vehicle segment accounted for 67.4% of domestic sales, while 32.6% was generated in the agricultural machinery segment. The Krone Group's foreign sales amounted to 1.5 billion euros, an increase of almost 171 million euros (12.4%) compared to the previous year. Almost 71% of foreign sales were generated in the Commercial Vehicles segment; 29.1% in the Agricultural Equipment segment. At 72.7%, the foreign share of sales was thus roughly at the previous year's level (72.8%).

In the past financial year, the Krone Group employed a total of 4,897 people (previous year: 4,497). In the 2017/2018 financial year, the balance sheet total increased from EUR 1,031.3 million to EUR 1,130.2 million. The total investment volume of EUR 67.0 million (previous year: EUR 76.0 million) and the changes in the scope of consolidation of EUR 1.1 million were offset by depreciation and amortization of EUR 28.0 million in both divisions. The additions are mainly the result of various investments at various locations.

Equity increased to EUR 533.8 million (previous year: EUR 486.1 million), mainly due to the net profit for the year as at the balance sheet date. The equity ratio rose slightly from 47.1% to 47.2%, although the balance sheet total continued to grow. In the 2017/2018 financial year, medium and long-term debt capital rose to EUR 325.6 million (previous year: EUR 290.4 million). The Group has medium and long-term capital of EUR 859.7 million (previous year: EUR 776.5 million) at its disposal. This covers not only fixed assets, but also all inventories and the majority of receivables.

Bernard Krone, Managing Partner of the Krone Group, was extremely satisfied with the course of the 2017/2018 financial year. "The renewed increase in turnover is proof that our strategy of positioning ourselves as a competent service provider for commercial vehicles and agricultural machinery is working. Another plus point is that, as a medium-sized family business, we act quickly, flexibly and innovatively. With an equity ratio of over 47 percent, we also have a rock-solid financial strength that gives us the freedom to innovate further and thus achieve sustainable growth. In addition, our diversification into transportation and agricultural machinery also offers excellent opportunities for the future, as we develop practical solutions for global challenges in both areas: The rapid increase in the world's population requires increased and more efficient food production and goes hand in hand with a continuous increase in freight transportation. Digitalization also plays an important role in this context, which is why Krone already offers a wide range of forward-looking solutions for smart agricultural machinery and smart commercial vehicles."

Further details Krone commercial vehicles

In the 2017/2018 financial year, sales revenue in the Commercial Vehicles division was up 13.6% on the previous year at around 1.49 billion euros. The German market, with a share of 26.4%, remains the most important single market, recording a 10.2% increase in sales compared to the previous year to EUR 393.1 million. Other important sales markets were Western Europe with 42.6% (previous year 43.8%) and Eastern Europe with 22.0% (previous year 21.6%).

Krone invested around 40 million euros in the new surface center at the Werlte site, the largest single investment in the company's entire history. In this state-of-the-art facility, chassis for semi-trailers are cathodically dip-coated and powder-coated to provide maximum protection against environmental influences. Other important investments included the construction of the new central spare parts center for the entire Krone Commercial Vehicle Group in Herzlake and the introduction of automated component production in the Herzlake production facility. In addition, Krone installed a new assembly line at the Dinklage production site, where Krone axles are manufactured. In addition, a new Krone Center was opened in Pusignan (near Lyon) in France as part of the expansion of sales activities.