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Cervus Equipment (TSX: CERV) is a world-leading equipment dealer, powered by iconic equipment brands and unrivaled support. It’s our mission to enable our customer’s success by providing practical and reliable equipment solutions and support. Our customers count on Cervus to keep them moving forward, and we meet that challenge with remarkable customer service and industry-leading brands John Deere, Peterbilt, JLG, Clark, Sellick and Doosan.
I would like to start by recognizing and thanking our employees: they are the heart of Cervus and their hard work enables us to achieve the results we are presenting to you today. On behalf of our employees, I would like to acknowledge the support our customers, original equipment manufacturers (“OEMs”), and shareholders have given us this year.
Looking back at 2017, we achieved some significant milestones. Cervus set a company record for new equipment sales in our Agriculture segment, which was accomplished by understanding customers’ requirements and positioning our solutions to meet their needs. The segment’s results also encapsulate the accelerated performance of the six agriculture dealerships acquired in 2014. I am particularly pleased with the contribution of parts and service revenue and profitability growth within Agriculture. Our financial results reflect the tangible impact of our service optimization focus, enabling us to serve our customers and the substantial machine population more efficiently.
Our focus in 2018 continues to be on delivering solutions and services to help our customers in their business, particularly in our product support offerings. We have seen returns on our service optimization process initiatives, and are continuing this approach across our operations. Ultimately, this translates to improving our customers’ experience, which is reflected in our financial performance. A lot has been learned and developed during 2017, and I am confident that our accomplishments have put Cervus in a strong position for performance in 2018 and beyond.
This page contains certain forward-looking statements. Please read the “Note Regarding Forward-Looking Information” contained in the Management Discussion and Analysis of Cervus for the year ended December 31, 2017 available on SEDAR at www.sedar.com under Cervus’ issuer profile.
*Financials = Consolidated & Annual Financial Statements | **MD&A = Management Discussion and Analysis
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