Ekotechnika AG publishes preliminary figures for FY 2020/2021
20 December 2021 Corporate News
- Group revenues climb to approx. EUR 244 million (previous year: EUR 193.8 million)
- Gross profit reaches approx. EUR 44 million (previous year: EUR 36.8 million)
- Earnings before interest and taxes (EBIT) almost quadrupled to EUR 21 million
Walldorf, 20 December 2021 – Ekotechnika AG (Primary Market; ISIN: DE000A161234), the German holding company of the largest dealer of international agricultural machinery in Russia, showed a very positive performance in the 2020/2021 financial year (30 September) according to preliminary figures. Sales revenues increased significantly from EUR 193.8 million to around EUR 244 million, which was slightly above the projected range of EUR 220-240 million, which had been raised several times during the course of the year. Gross profit grew strongly by around 18% to just under EUR 44 million (forecast of September 2021: EUR 37-40 million) and earnings before interest and taxes (EBIT) almost quadrupled from EUR 5.6 million in the previous year to around EUR 21 million (forecast: EUR 17-20 million).
In Ekotechnika AG’s New Machinery segment, which accounts for about two thirds of total revenues, sales of tractors over 160 hp increased particularly strongly, namely by approx. 65% from 245 machines in the previous year to 403 machines. Sales of combines and forage harvesters declined slightly from the previous year’s 117 to 109 machines. The Spare Parts and Customer Service segments grew moderately in FY 2020/2021 and will increasingly be expanded in the current financial year 2021/2022. The Smart Farming segment also showed a positive trend, with revenues more than doubling in the reporting period.
Bjoerne Drechsler, member of the Executive Board of Ekotechnika AG: “We are more than satisfied with the development in the past financial year. We have made great progress in the Smart Farming segment and expect further positive effects to arise from our newly launched service products. The first customers have already signed contracts for our ‘digitalization packages’, which will help us add another service-oriented component to our currently highly product-oriented approach.”
The 2020/2021 Annual Report of Ekotechnika AG is expected to be published on 26 January 2022.
Ekotechnika AG, Walldorf, is the German holding company of the EkoNiva-Technika Group, the largest distributor of agricultural machinery in Russia. The main partner and principal supplier is John Deere, the world’s largest and market-leading manufacturer of agricultural machinery. Ekotechnika’s main business lies in selling new equipment such as tractors and combines but also soil tillage machines. In addition, the company sells spare parts, provides service and maintenance and offers its customers smart farming technologies. Founder and Chairman of the Executive Board of Ekotechnika AG is Stefan Dürr, who has been active in the Russian farming sector since the late eighties and has been instrumental in its modernization over the past decades. Operating 25 locations in five attractive Russian farming regions, Ekotechnika today employs around 760 people and generated sales revenues of around EUR 194 million in 2019/20. The Ekotechnika stock is listed on the Primary Market of the Düsseldorf Stock Exchange (ISIN: DE000A161234) as well as on the Open Market of the Frankfurt Stock Exchange.
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