With an increase in turnover of 10.8%, the Krone Group in Spelle, Germany, recorded the most successful trading year in its almost 100-year history. Krone reported a total turnover of Euro 531.6 million for all sectors of business under Bernard Krone Holding GmbH & Co. KG for trading year 2002, which ended Dec 31, 2002. The pre-tax income for the year rose by 49.2% to Euro 23.9 million; this corresponds to an increase in the net profit ratio of 1.2% to 4.5%.
Fully 60% of the group's revenue came from abroad in 2002 and the remaining 40% from the domestic market. This corresponds to a shift of four percentage points in favor of the export sector, which was achieved primarily by developing new markets in Europe.
Krone reported a record turnover for the commercial trailer factories. The turnover of the Bernard Krone GmbH trailer factory in Werlte saw an increase of 6.6% compared with the preceding year up to Euro 280 million. A look at turnover in 1993 shows that Krone has managed to quadruple its revenues in less than a decade — from Euro 71 to Euro 280 million.
The Danish subsidiary of the commercial trailer factory, Bernard Krone A/S (refrigerated unit production) was able to increase its turnover by more than 31% in 2002, with Krone recording a turnover of Euro 51.9 million (compared with 2001's Euro 39.5 million). The refrigerated unit production at Hvam (near Viborg) was first integrated into the Krone Group in April 2000.
These results make Krone one of the few European manufacturers in the entire commercial trailer sector still able to generate revenue growth in 2002.
Krone's goals for 2003 are to maintain its market leadership of round balers for the agricultural machinery sector. The commercial trailers sector will seek to raise the refrigerated trailer division from 17% to 25% market share.