MASCHIO GASPARDO S.p.A., the leading Italian multinational manufacturer of tillage, seeding, fertilization, crop protection, landscaping and haymaking equipment, has published its consolidated financial results for the fiscal year ended 31 December 2025, reporting revenues of €390 million — an increase of approximately 12% year‑on‑year. This stands in sharp contrast to the global agricultural machinery sector, where major listed manufacturers recorded double‑digit revenue declines.
EBITDA reached 11.5% of revenues, in line with the previous year, confirming the Group’s ability to grow while maintaining operating profitability. Net profit amounted to €11.2 million. The Group’s net financial position improved by approximately €18 million, reaching €69 million, thanks to reduced bank debt and increased liquidity. Consolidated equity as of 31 December 2025 totalled €141 million.
“Achieving double‑digit growth in a year when the entire sector contracted is the result of a long‑term vision and the trust our customers and partners place in the MASCHIO GASPARDO brand. Agriculture is undergoing a profound transformation driven by sustainability, technological innovation and consolidation across the value chain. Our goal is to lead that transformation, bringing Italian industrial excellence to fields around the world,” said Mirco Maschio, President of MASCHIO GASPARDO.
Over €12 million invested: production remains centred in Europe
In 2025, the Group invested more than €12 million in plants, machinery, equipment and software worldwide, continuing the modernisation and digitalisation of its production base. Italy and Europe remain the heart of MASCHIO GASPARDO, with six production plants across the continent where the company continues to invest in R&D, technological innovation and automation, including projects aligned with Industry 4.0 and 5.0 frameworks. The Group also conducts research through its subsidiary Free Green Nature Srl, specialised in robotic and mechatronic systems for agriculture, particularly for vineyards, orchards and olive groves.
In this field, MASCHIO GASPARDO S.p.A., as project coordinator, received funding from the EU LIFE Programme for Environment and Climate Action, together with a consortium of scientific and industrial partners including the University of Trento, AIPO (Interregional Olive Producers Association), the Edmund Mach Foundation and the Laimburg Research Centre. The LIFE APOLLO project focuses on developing and field‑testing robots equipped with UV‑C technology for phytosanitary treatments in olive groves and apple orchards, with the aim of significantly reducing dependence on conventional chemical products and bringing this technology closer to market for the benefit of both producers and consumers.
Andrea Maschio, Vice President of MASCHIO GASPARDO and President of Maschio Holding, stated: “Every machine that leaves our factories carries decades of experience and a genuine commitment to quality. We continue to invest in all our facilities, accelerating automation and robotics. Our goal is to manufacture reliable, intuitive machines increasingly tailored to the real needs of farmers, because a product that satisfies the customer is the essence of everything we do.”
International expansion: North America, India and the integration of Grégoire Besson
In 2025, the Group completed several strategic transactions to strengthen its presence in the fastest‑growing international markets.
North America. MASCHIO GASPARDO acquired a stake in Lynx AG LLC, the U.S. company behind the world’s largest strip‑tillage machine, and together they established the joint venture MASCHIO GASPARDO USA Inc. In spring 2026, extensive field tests began on the first large‑scale planters designed for the North American market, with the official launch scheduled for the Farm Progress Show (Boone, Iowa, 1–3 September 2026). The Group also established its Canadian subsidiary, Équipements MG Canada Inc., operating since late 2025 to serve the Canadian market and provide logistical flexibility in the region.
India. With the support of Simest S.p.A., the Group launched a major industrial expansion plan that included an investment of approximately €30 million, the acquisition of a 100,000 m² site and the construction of a new manufacturing plant that will double local production capacity in the Indian subcontinent.
Integration of Grégoire Besson. The alliance with Grégoire Besson SAS, in which MASCHIO GASPARDO holds a stake with financial support from Finest S.p.A., continues to strengthen. In December 2025, MASCHIO GASPARDO China and MASCHIO GASPARDO Canada acquired the respective business units of Grégoire Besson, becoming exclusive importers and distributors of the French brand in China and Canada.
Europe. The new Benelux subsidiary completed its first full year of operations. With the new openings in Benelux and Canada, the Group now operates 15 commercial subsidiaries worldwide.
“Our strategy is to consolidate our leadership in Europe and accelerate growth in high‑potential markets such as North America, India and Latin America. We are building an industrial model based on product quality, delivery reliability and service excellence. 2026 brings significant challenges, particularly geopolitical instability, but our geographic diversification allows us to face them with cautious optimism,” said Luigi De Puppi, Chief Executive Officer.
Full‑line strategy and medium‑ to long‑term vision
The Group is committed to offering a full range of machinery covering all stages of the agronomic cycle —from tillage to seeding, fertilization, crop protection, landscaping and haymaking— while strengthening partnerships with its dealer network through specialised formats such as Full Line Stores and MASCHIO GASPARDO Points.
Among its future growth priorities, the Group is placing special focus on Latin America, starting with Brazil, where it is actively seeking industrial partners to expand its presence.
Outlook for 2026: cautious optimism in a complex geopolitical environment
The 2026 financial year began positively, supported by a strong order book. However, the escalation of the Middle East crisis in late February 2026 introduced significant new uncertainties: the closure of the Strait of Hormuz sent fertilizer prices soaring by more than 30% within weeks, while rising fuel costs are increasing farmers’ production expenses, reducing margins and dampening investment appetite.
In India, gas‑consumption restrictions introduced in March 2026 —limited to 65% of the average consumption of the previous six months— highlight the global reach of the current energy crisis.
The Group is experiencing a slowdown in orders but remains cautiously optimistic about 2026, provided the international landscape moves toward gradual stabilisation. Strategic planning confirms a revenue‑growth trajectory for 2026–2030, with Italy, France, the DACH region, Iberia, Romania and China among the markets expected to record the strongest growth.
