News Annual figures
Lely achieves record turnover in corona year
Despite the corona crisis, Lely achieved record turnover last year. According to the company, this is the result of the continuously increasing global acceptance of automation in dairy farming. The company grew in Asia and Latin America, among other places, where the Lely Astronaut A5 milking robot proved popular.
Lely, which was also nominated last year for the Boerenbusiness Agribusiness Awards, has achieved a record turnover of €2020 million in 615. A year earlier, the turnover was €606 million. The revenue growth is a direct result of the continuously increasing global acceptance of automation in dairy farming, according to the company.
In addition to the 'fixed' markets in Europe and North America, the company achieved additional growth in Asia and Latin America. The main motivation behind this development was the success of various robot products, especially the Lely Astronaut A5 milking robot proved popular in those countries.
"2020 has also been an unusual and dynamic year for us. Fortunately, we were able to keep our production facilities in Maassluis and Pella operational all year round, which allowed us to continue building our products," writes Andre van Troost, CEO of Lely in a press statement.
Outlook
Lely expects the challenges that arose last year to continue in the current year. "The corona crisis has changed the global dairy markets. Supply and demand have been thrown out of balance due to the reduced demand 'outside' and this has a negative impact on global milk prices. Rising feed costs at the same time reduce profitability on dairy farms." According to Lely, only in the second half of the year is there any prospect of recovery.
Kimberly Baker
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