Revenue at Buhler Industries in 2019 decreased by about 25 percent compared to 2018.
The company said its lower sales levels were a result of trade uncertainties, bad harvest conditions, and poor crop yields coupled with low commodity prices. Sales to North America and Eastern Europe are below historical levels, while other markets have remained steady.
The company implemented cost-saving measures in 2019 that improved gross margin by 3.3 percent and reduced selling and administrative spending. The company also saw significant improvement in its net loss for the year.
In its forward-looking earnings statement, Buhler said it expects the challenges that faced farmers in 2019 to continue this year. Despite these circumstances, the company expects to achieve higher gross margins in the next year as it continues to focus on margin improvement.
Buhler also expects improved sales when it begins full production of its new mid-range front-wheel assist tractor.
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