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John Deere experienced a significant slump in profits for its agricultural division over the last year.
Recent results from its 2024 financial year has seen global farm machinery player John Deere record a significant slump in the profits of its agricultural division over the last year, with a 64% drop in the last quarter of the year, compared to that of 2023.
Revenue was down 28% in the same period, underlining the difficult trading conditions experienced recently.
The final quarter was particularly difficult, dragging the annual results down to 38% fall in revenue and a subsequent 35% lowering of profit over the company's 2024 trading year.
The company's response was to note that the results "demonstrate solid execution despite ongoing market challenges," which in farmer-speak means, "blimey, that could have been a lot worse".
Looking forwards, the business doesn't appear to be expecting much improvement any time soon, suggesting it expects overall net income for the 2025 year to be in the $5.0 to $5.5 billion range, compared to a figure of $7.1 billion for the just ended 2024.
On a more positive note, JD topped the league table in the French tractor market in 2024, while also topping the rankings in nine other European tractor markets.
The brand delivered around 19,600 of the 140,000 new 50hp+ tractors registered in Europe last year, of which 11,760 were in the three key markets of France, Germany, and Italy.
Breaking the numbers down, 6,059 units were registered in France for the 18.2% share of the total 33,225-unit market. This compared with 7,179 units and a 20.1% share of the 2023 market.
JD also held onto second place in the most important European market of Germany but regiestered 21% fewer new tractors; down from 5,899 and a 19.4% share of the 2023 market to 4,659 units and a 15.9% share in 2024.
The company lost even more ground in Italy where it registered 37% fewer new tractors; down from 1,666 in 2023 to 1,048 in 2024.
Elsewhere, the global giant topped the tractor charts in Bulgaria, Croatia, Czech Republic, Hungary, Lithuania, Norway, Poland, Sweden and Spain, while achieving second places in Belgium, Finland, the Netherlands and Switzerland, and third places in Portugal and Slovenia.
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With the biannual Italian EIMA machinery Expo less than a month away, Case IH has taken out a Technical Evolution award for the Advanced Vehicle Suspension system available on its Optum 360–440 series tractors.
The Advanced Vehicle Suspension system, available on Optum 360, 390, and 440 models, responds to changing conditions, automatically adjusting how the suspension reacts to absorbs shocks and controlling vehicle movement.
In operation, sensors monitor the vibrations transmitted from the tractor chassis to the operator cabin, allowing the system to adjust suspension damping in real time. The control system incorporates key priorities, such as comfort at lower speeds and stability as speed increases, while also reacting to factors such as lower tyre pressures, where the tyres absorb more of the initial shock.
Case IH said as suspension requirements change throughout the working day, as tractors move between the paddock and road transport, the system manages suspension response in the background as tasks, speeds and conditions change, leaving the operator without the need to make manual adjustments.
Richard Hollins, Optum series tractors global product manager, said: “Pioneering technology must earn its place in the working day. Farmers and contractors will judge an investment by what it delivers, including manageable ownership costs, dependable up-time and the versatility to tackle different jobs. With AVS, we are putting intelligent control to work for comfort and stability, without giving the operator another setting to manage.”
Organised by FederUnacoma, the Italian Agricultural Machinery Manufacturers Federation, the contest has been part of EIMA since 1986, with the Technical Evolution distinction awarded to products that introduce original improvements to solutions already manufactured or patented.
www.caseih.com
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