Our firstTech Dayshows how we areBreaking New Ground in Agriculture
London, December 7, 2022
CNH Industrial is making great strides in delivering on its Ag Tech roadmap. We are demonstrating achieved progress in the Precision Technology space at a two-day event for financial, investor and media communities. It is taking place in Phoenix, Arizona, USA today (December 7) and tomorrow (December 8). It will showcase how we are developing and commercializing industry-leading products in automation, autonomy, digital, alternative fuels and electrification to benefit our customers, the world's farmers, and the Earth.
"Our Tech Day will show the world howCNH Industrial is leveraging our great iron to develop and deploytechnologythat simplifies and enhances operations; providesinsightfuldata; and utilizes alternative power solutions - all tosustainably advance farming," says Scott W. Wine, Chief Executive Officer, CNH Industrial. "Raven's significantcontributions to this effort will also be on full display - demonstrating how we have incorporated their capabilities and accelerated our technology offering to create customer solutions that drive efficiency and profitability."
CNH Industrial's full year 2022 Agriculture net sales are expected to include an estimated $900million contribution coming exclusively from Precision Technology components. We forecast a 10 - 15% annual growth rate across the next two to three years and are aggressively pursuing an estimated $1billion in 2023 net sales contribution from Precision Technology components. Precision Technology components include technology contained in wholegoods, retrofit components, and Raven third-party sales.
Telling the story, showing the results
The morning will see CNH Industrial's leaders and technical experts review our Ag Tech innovations with a specific focus on Precision Technology through Automation, Autonomy and Connected Platform technologies. Industry firsts and new technology developments - both at commercial and concept stage - will also be presented. A discussion on the Business Impact ofAgTech will outline how Precision Technology drives value for our customers, business, R&D and talent. Then we will go out in the field and show our audience these technologies in action - ready for farmers to put to work across the full farming cycle.
TILLAGE
Soil by Soil Precision
PLANTING
Seed by Seed Precision
APPLICATION
Drop by Drop Precision
HARVESTING
Grain by Grain Precision
ORCHARD & VINEYARD
Fruit by Fruit Precision
HAY & FORAGE
Cut by Cut Precision
SUSTAINABILITY
Source by Source
Customer-focused: helping farmerssolve big challenges
Precision is embedded into our technology solutions and it helps farmers make better decisions by seeing, sensing, and acting on data levels beyond what they were previously able to access.
Here are the key areas where we are driving productivity for our customers:
Automation
delivers higher yields, reduces input costs and operator fatigue, improves efficiency and lowers environmental impact.
Autonomy
expands operating windows and increases productivity.
Our Connected Platform
links farmers to their machines, fields, team, and partners helping them manage their operations from anywhere, anytime.
The Raven advantage
Raven is accelerating our autonomy program and enhancing our Tech Stack capabilities to deliver solutions faster. In just over a year, we have already developed and brought cutting-edge firsts to the world's fields through our Brands. These include the industry's first autonomous spreader. And even more firsts will be launched at Tech Day - showing how together, we offer an open ecosystem that drives early adoption and learning.
Alternative fuels. Real world benefits
The demand to reduce emissions and address the evolving energy crisis intensifies our drive to find new ways to power our iron. CNH Industrial is a first mover in alternative fuels and electrification for agriculture. This event will see us unveil world firsts for Liquefied Natural Gas - generated from captured Methane - and Electrification in farming. They play a key role in our sustainability journey to set and reach science-based reduction targets.
CNH Industrial's technology solutions demonstrate our commitment to sustainably advancing the noble work of farmers everywhere.
Follow updates from the event at:bit.ly/CNHITechDay
Forward-looking statements
All statements other than statements of historical fact contained in this press release, including competitive strengths; business strategy; future financial position or operating results; budgets; projections with respect to revenue, income, earnings (or loss) per share, capital expenditures, dividends, liquidity, capital structure or other financial items; costs; and plans and objectives of management regarding operations and products, are forward-looking statements. Forward looking statements also include statements regarding the future performance of CNH Industrial and its subsidiaries on a standalone basis. These statements may include terminology such as "may", "will", "expect", "could", "should", "intend", "estimate", "anticipate", "believe", "outlook", "continue", "remain", "on track", "design", "target", "objective", "goal", "forecast", "projection", "prospects", "plan", or similar terminology. Forward-looking statements, including those related to the COVID-19 pandemic, are not guarantees of future performance. Rather, they are based on current views and assumptions and involve known and unknown risks, uncertainties and other factors, many of which are outside our control and are difficult to predict. If any of these risks and uncertainties materialize (or they occur with a degree of severity that the Company is unable to predict) or other assumptions underlying any of the forward-looking statements prove to be incorrect, including any assumptions regarding strategic plans, the actual results or developments may differ materially from any future results or developments expressed or implied by the forward-looking statements. Factors, risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements include, among others: the continued uncertainties related to the unknown duration and economic, operational and financial impacts of the global COVID-19 pandemic and the actions taken or contemplated by governmental authorities or others in connection with the pandemic on our business, our employees, customers and suppliers; supply chain disruptions, including delays caused by mandated shutdowns, industry capacity constraints, material availability, and global logistics delays and constraints; disruption caused by business responses to COVID-19, including remote working arrangements, which may create increased vulnerability to cybersecurity or data privacy incidents; our ability to execute business continuity plans as a result of COVID-19; the many interrelated factors that affect consumer confidence and worldwide demand for capital goods and capital goods-related products, including demand uncertainty caused by COVID-19; general economic conditions in each of our markets, including the significant economic uncertainty and volatility caused by the war in the Ukraine and COVID-19; changes in government policies regarding banking, monetary and fiscal policy; legislation, particularly pertaining to capital goods-related issues such as agriculture, the environment, debt relief and subsidy program policies, trade and commerce and infrastructure development; government policies on international trade and investment, including sanctions, import quotas, capital controls and tariffs; volatility in international trade caused by the imposition of tariffs, sanctions, embargoes, and trade wars; actions of competitors in the various industries in which we compete; development and use of new technologies and technological difficulties; the interpretation of, or adoption of new, compliance requirements with respect to engine emissions, safety or other aspects of our products; production difficulties, including capacity and supply constraints and excess inventory levels; labor relations; interest rates and currency exchange rates; inflation and deflation; energy prices; prices for agricultural commodities; housing starts and other construction activity; our ability to obtain financing or to refinance existing debt; price pressure on new and used equipment; the resolution of pending litigation and investigations on a wide range of topics, including dealer and supplier litigation, intellectual property rights disputes, product warranty and defective product claims, and emissions and/or fuel economy regulatory and contractual issues; security breaches, cybersecurity attacks, technology failures, and other disruptions to the information technology infrastructure of CNH Industrial and its suppliers and dealers; security breaches with respect to our products; our pension plans and other post-employment obligations; political and civil unrest; volatility and deterioration of capital and financial markets, including other pandemics, terrorist attacks in Europe and elsewhere; our ability to realize the anticipated benefits from our business initiatives as part of our strategic plan; our failure to realize, or a delay in realizing, all of the anticipated benefits of our acquisitions, joint ventures, strategic alliances or divestitures and other similar risks and uncertainties, and our success in managing the risks involved in the foregoing.
Forward-looking statements are based upon assumptions relating to the factors described in this press release, which are sometimes based upon estimates and data received from third parties. Such estimates and data are often revised. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are outside CNH Industrial's control. CNH Industrial expressly disclaims any intention or obligation to provide, update or revise any forward-looking statements in this announcement to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Further information concerning CNH Industrial, including factors that potentially could materially affect CNH Industrial's financial results, is included in CNH Industrial's reports and filings with the U.S. Securities and Exchange Commission ("SEC"), the AutoriteitFinanciëleMarkten ("AFM") and Commissione Nazionale per le Società e la Borsa ("CONSOB").
All future written and oral forward-looking statements by CNH Industrial or persons acting on the behalf of CNH Industrial are expressly qualified in their entirety by the cautionary statements contained herein or referred to above.
CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company's regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range ofmini and midi excavators for the construction sector, including electric solutions.
Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial's 37,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.
For more information and the latest financial and sustainability reports visit: cnhindustrial.com
For news from CNH Industrial and its Brands visit: media.cnhindustrial.com
Contacts:
Media Relations
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
Attachments
- 20221207_PR_CNH_Industrial_Tech_Day_Overview (https://ml-eu.globenewswire.com/Resource/Download/9cf2192b-e0cd-44b9-a9e9-6848d64ae19a)
- CNH Industrial Tech Day event logo (https://ml-eu.globenewswire.com/Resource/Download/4b68b595-74cc-4ca2-9c2a-b7c5d71a2657)
- 20221207_INFOGRAPHIC_CNH_Industrial_Tech_Day (https://ml-eu.globenewswire.com/Resource/Download/85f82c3d-f1a4-4c90-aa13-1af145e134c4)
