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XtraBlatt issue 02-2016

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MENSCHEN INTERVIEW Krone

MENSCHEN INTERVIEW Krone Group SETTING THE RIGHT Krone is a well-known company name. But what does the Krone Group actually consist of? And where does the future lie for such a medium sized concern in these times of globalisation? We asked Alfons Veer, financial director of the Krone Holding. » A central theme in future developments will concern telemetry systems. « Alfons Veer 18

COURSE TThe final results of the Krone business year 2015/16 certainly surprised market experts: While over months, many manufacturers in the agricultural machinery sector suffered reductions in turnover between 10% and 30%, the Krone Group’s “green branch” realised over 565 m euros, representing a small plus of around 2% over the previous financial year. Of course, one cannot expect even this enterprise to completely shake off global trends. But this positive result indicates that it does seem to have set its course a little differently. What are these different settings? And in which direction do they head? Among the most important figures in this concern’s management is Alfons Veer: He’s been with Krone since 2004, a year later being appointed spokesman for the company management. His area of responsibility includes not only the subject of finance but also strategic planning for the company group. XtraBlatt: Mr Veer, the sector in general groans under the results of the current price crisis. But Krone keeps expanding. What’s the ace up your sleeve that’s responsible for this performance? Alfons Veer (smiling): Responsible for our good results in the last year is partly our success in North America. While the market there, too, is down 17% and therefore substantially reduced, Krone managed an increase in market share with turnover increasing by 6%. This has compensated for the reversals we’ve suffered elsewhere. In Germany, for example. And in other European markets. On the other hand, the big five players in agricultural machinery manufacture worldwide have been the ones primarily affected by the market collapse in South America which can be described as downright dramatic. For us, this market is so far relatively indeterminate. XtraBlatt: And what are the omens for 2016/2017? Alfons Veer, financial director of the Krone Holding: “In the present financial year Krone, too, will feel the results of the investment stoppage in agriculture.” Alfons Veer: Very mixed. In the present financial year Krone will also feel the full effects in turnover and margin of the investment stoppage in agriculture. We are realists in this respect. I estimate agricultural produce prices reached their nadir in autumn and we can expect a relaxation of the situation in the beginning of the coming year. XtraBlatt: To this background, will the blue sector, i.e. the truck trailer production, win still more importance for Krone in the next year? Alfons Veer: I expect so. In fact, the strength of the enterprise lies in this constellation, because both sectors complement each other well through their different market cycles. In the financial crisis 2008/2009 agricultural machinery provided the sheet anchor. Now, it is the other way around. In 2015/2016 the Krone Commercial Vehicle SE, that is, the sector described in our internal language as the blue line, realised a growth of 12.5%. That was six times as much as the agricultural machinery. And regarding turnover, the blue line with its 1.21 billion (bn) euro is more than double that of the green line. During 2016/2017, this relationship could well be even more defined. But, once again: the strength lies in the combination of both. XtraBlatt: Of course, there are other enterprises within the holding … Alfons Veer: Correct. In this respect, we also naturally have our Used Machinery Centre `Harvest Park’, the ‘Mietpark Krone’ fleet and the axle manufacturer Gigant, as well as the 2016-integrated Brüggen Group. In total, related turnover for the Krone Holding in the last financial year was 2 bn euro. 19