Versatile tractor maker reports higher sales in 2020

by

The only tractor manufacturer based in Canada is reporting a jump in sales in its year-end financials.

Buhler Industries, which makes and sells Versatile tractors and Farm King equipment, says it saw gross revenue of $249.6 million in fiscal 2020, up from $229.1 million in 2019.

The company says the increased sales were “a result of dealers reducing field inventory in the previous year, strong harvest conditions, and crop yields.” North America sales were up, but were offset by reduced sales in Eastern Europe and other international markets.

The bottom line for Buhler in 2020 was still negative, as the company reported a net loss of $25.8 million, an improvement over losses of $29.5 million in 2019 and $49.5 million in 2018.

The company says it’s expecting sales to grow again in 2021, citing a growing list of new order activity.

Buhler is also in the process of streamlining its manufacturing footprint, closing production facilities in Fargo, North Dakota, Wilmar, Minnesota, and Vegreville, Alberta. Production of Farm King and Ezee-On equipment will be moved to the company’s main plants in Winnipeg and Morden, Manitoba. The company says the impact of these cost reduction measures will be seen in 2021, with the full impact showing up in 2022.

Related:

Wake up with RealAgriculture

Subscribe to our daily newsletters to keep you up-to-date with our latest coverage every morning.

Wake up with RealAgriculture

Privacy Preference Center

Necessary

Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

gdpr, __cfduid, PHPSESSID, wordpress_test_cookie, woocommerce_items_in_cart, woocommerce_cart_hash, wp_woocommerce_session, wordpress_logged_in, wordpress_sec, wp-settings, wp-settings-time, __cf_mob_redir, wordpress_cache, realag
__cfduid

Marketing

Measuring interactions with the ads on the domain.

__gads,fsk_ut_2317
IDE

Statistics

These are used to track user interaction and detect potential problems. These help us improve our services by providing analytical data on how users use this site.

_ga,_gid,_gat,_cb,_chartbeat2,_chartbeat4
_ga,_gid
metrics_token

Preferences

Preference cookies enable the website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

chartdefaults, comment_author, comment_author_email, comment_author_url
JSESSIONID, _os_session,anonymous_votes,csrf-param,csrf-token,user,user-id,user-platform,intercom-session,intercom-lou,intercom-session
personalization_id, tfw_exp

 

Register for a RealAgriculture account to manage your Shortcut menu instead of the default.

Register