increase font size
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.
A long way from when AI meant plunging a plastic-covered arm armpit deep up a cow’s rear, John Deere has shown off its new artificial intelligence (AI) assistant, aptly called JD, which aims to simplify data processing on farms.
Twin rotor swathers have become the ‘go-to’ for forming swaths to feed hungry harvesters and balers, however, the design layout often means that crop located between the two rotors is not picked up, turned over or incorporated into the swath formed for subsequent harvesting.
Operating large tractors became more expensive back in March due to the ongoing Strait of Hormuz conflict, meaning contractors had to introduce fuel surcharges and farmers had to adjust their budget forecasts.
Close to the Abel Tasman and Kahurangi National Parks, Motueka is known for apples, pear and kiwifruit orchards, alongside specialised crops such as hops. Indeed, that specialisation, saw the area being the New Zealand centre of the tobacco growing, until the early 1980s.
Can-Am has introduced its 2027 range of side-by-side vehicles (SSV) and all-terrain vehicles (ATV), including the industry leading Defender, the Maverick R and the hugely capable Outlander ATV, incorporating a host of advancements designed to deliver an exceptional riding experience.
Pāmu has released its FY26 Integrated Annual Report, reporting a Net Operating Profit of $113 million, more than double the $49 million recorded in FY25.
Meat Industry Association data, released alongside the Red Meat Sector conference in Wellington, shows export value climbing across the US, China, UK and Canada.
Applications are set to open for the 2027 Zanda McDonald Award, a trans-Tasman award recognised for identifying and fast-tracking talented young leaders in agriculture and agribusiness.
The Royal New Zealand College of General Practitioners (the College) and Hauora Taiwhenua Rural Health Network are calling for investment in a proposed new training pathway for rural GPs, warning that many rural practices are struggling to recruit while a large share of the existing workforce nears retirement.
Federated Farmers has called on Central Otago District Council (CODC) to drop or vote down a plan to truck sludge from Alexandra and Cromwell to farmland near Lauder, warning it would compound an "outrageous" situation created by a separate council's decision weeks earlier.
Synlait has swung to second-half profit as operations stabilise, but the dairy processor still posted a $75.4m annual loss.
OPINION: It seems Canterbury processor Synlait is still in the doldrums.
OPINION: Get offside with New Zealand First leader Winston Peters at your own peril.
