This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Agco presenta los resultados del tercer trimestre
AGCO presents the results of the third quarter
03/11/2009
November 3, 2009
AGCO, dealer and international manufacturer of agricultural machinery, announced a net of approximately $ 1.4 billion sales in the third quarter of 2009, a decline approximately 32.7% compared to net sales of approximately 2.1 billion dollars in the third quarter of 2008. Excluding the impacts attributable to negative effects of translating currency, about 5%, net sales in the third quarter of 2009 declined nearly 27.7% compared to the same period in 2008.
Net sales for the first nine months of 2009 were approximately $ 4.8 billion, a decrease in next to 23.8% in comparison with the same period in 2008. Excluding the impacts attributable to negative effects of translating currency of approximately 9.9%, net sales in the first nine months of 2009 declined nearly 13.8% compared to 2008.
"Our third quarter results have suffered the impact caused by the weakness of the markets and a significant reduction in production to reduce inventory of our company and distributors," stated Martin Richenhagen, President, Manager and CEO of Agco. "The expectations of lower agricultural income in 2009 and the long-term effects of the credit restriction in some markets have impacted negatively on our business".
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Agco Iberia, S.A.
