Agco raises long-term financial targets, provides 2025 outlook at 2024 analyst meeting

Farmer-first strategy delivering value for farmers and generating higher through-the-cycle returns for shareholders new york , dec. 19, 2024 /prnewswire/ -- agco corporation (nyse: agco), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced new financial targets to investors at its 2024 analyst meeting as it remains focused on driving enhanced durability and profitability through the cycle. by 2029, agco is targeting to: improve adjusted mid-cycle adjusted operating margins to 14%-15%1 outgrow the industry by 4%-5% annually annually deliver free cash flow conversion of 75%-100%2 expand net sales of fendt in north and south america to $1.7 billion as the company continues to roll out a full line of fendt products grow parts net sales to $2.3 billion while increasing market share of genuine agco parts deliver precision ag net sales of $2.0 billion "our farmer-first strategy has served us well since its launch in 2021, driving us to deliver even more innovative solutions for farmers through our differentiated portfolio of leading brands," said eric hansotia, agco's chairman, president and chief executive officer.
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