Claas increased its sales to a new record of €3.889 billion during its most recent financial year – up from €3.761 billion the previous year.
Profit before taxes increased to €226 million – up from €184 million.
“We have continued our growth in a volatile market environment and once again significantly improved our profitability,” said Hermann Lohbeck, speaker of the Claas Executive Board.
A strong impetus originated from Germany and western Europe in particular.
Claas noticeably improved its revenues in core countries such as Germany, France and the UK. In eastern Europe, a slight “project-related” decline in sales was observed.
A mixed picture emerged outside Europe. While sales in North America increased, China recorded a decline – as a result of “market uncertainty”.
Record R&D spend
Investment in research and development reached a new record of €233 million – up from €217 million previously. The spend has doubled over the past 10 years.
According to Claas, the course is set for growth in the tractor business, with the “modernisation” of the main assembly line started in Le Mans (France).
Moreover, a new high-bay warehouse is being built in Hamm (Germany), which will double capacity to 58,000 pallet bays. A new test centre for machine components was also completed at the main site in Harsewinkel (Germany).
In addition, says Claas, large investments were made in new distribution centres in the UK and France.
Number of employees
The number of employees around the world grew slightly to 11,132 (on September 30, 2018). This is up from 10,961 at the same point in 2017.
The members of the Claas Executive Board (left-to-right): Bernd Ludewig; Hans Lampert; and Hermann Lohbeck
Claas expects “stable development” in the global agricultural engineering markets for the 2019 fiscal year, despite regional uncertainties.
A spokesperson said: “The increasing demand for professional agricultural technology continues to be a driving force. General risks lie particularly in global trade disputes that also affect agricultural goods.”