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August 27, 2018 12:00 am | FILED UNDER: business

Zetor Tractors Sees Profits Rise On Lower Sales

By ČTK Zetor Tractors

Brno, Aug 27 (CTK) – Zetor Tractors saw its 2017 sales fall to Kc2.9bn from Kc3.2bn a year ago, its pre-tax profit growing to Kc117m from 2016’s Kc102m, the tractor maker said in the annual report entered in the Register of Companies.

 

The number of tractors sold last year decreased by 379 to 2,765 units, which the company attributed to a falling demand for 80 – 150 horsepower tractors. “The segment recorded a drop of nearly 6 percent in Europe last year. That is why we see as a success the sales figures being maintained at the 2016 levels, the company being in the black for the eighth time (in a row), and research and development costs being similar to volumes seen in previous years,” said Zetor Tractors’ management.

 

Exports made up 79 percent of total sales, and new destinations were Israel, Jordan, Zambia, Kenya, the Philippines, Uzbekistan, and Russia.

 

In Russia, the company signed a memorandum on supplies of Forterra tractors.

 

The company was active in more than 50 countries, planning to enter markets in Australia and New Zealand, Southeast Asia, eastern Africa, and the Middle East in the following years.

 

year

no. of tractors sold

gross profit (Kc mil.)

sales (Kc bn)

staff numbers

2014

4,178

275

3.8

783

2015

3,773

144

3.7

681

2016

3,144

102

3.2

679

2017

2,765

117

2.9

655

 

Source: Zetor Tractors

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