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AGCO Reports Second Quarter Results

Regional Results

AGCO Regional Net Sales (in millions)

       

 

    % change from

 

2011 due to

% change

currency
Net sales

from 2011

translation (1)

 
Three months ended June 30, 2012
North America $ 733.4 85.8% (2.2)%
South America 448.5 (9.7)% (19.0)%
Europe/Africa/Middle East 1,406.9 0.5% (11.2)%
Asia/Pacific   101.3 51.7% (6.9)%
Total $ 2,690.1 14.1% (11.2)%
 

Six months ended June 30, 2012

North America $ 1,299.9 72.4% (1.6)%
South America 863.9 (4.8)% (13.0)%
Europe/Africa/Middle East 2,606.7 9.8% (8.8)%
Asia/Pacific   193.3 59.0% (3.0)%
Total $ 4,963.8 19.4% (8.2)%
 
(1) See Footnotes for additional disclosure

North America

Strong seasonal performance from GSI, solid industry demand and high acceptance of new products produced growth of 74.0% in North American sales in the first half of 2012 compared to the same period of 2011, excluding the impact of unfavorable currency translation. Excluding the benefit of acquisitions and currency translation, North American sales increased 36.4% in the first half of 2012 compared to the same period in 2011. The most significant increases were in sprayers, hay equipment and high horsepower tractors. The positive impact of acquisitions, higher sales and margin improvement all contributed to growth in income from operations of $113.2 million for the first six months of 2012 compared to the same period in 2011.

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