Net Sales Fall for AGCO

AGCO released its fourth-quarter numbers this month, reporting a decrease in net sales of 21.2% compared to the fourth quarter last year. For the 2015 fiscal year, net sales were down by 23.2%.

“In the midst of challenging market conditions, we worked aggressively in 2015 to better align our costs and working capital with the weaker demand environment,” said Martin Richenhagen, AGCO’s Chairman, President and CEO. “Focused inventory reduction efforts contributed to the generation of over $300 million in free cash flow. In addition, our cost reduction actions were implemented while maintaining key investments in new products.”

Richenhagen said AGCO expects market conditions to remain challenging. S