German company Lemken grew its business last year, despite what it describes as “generally difficult conditions”.
In 2018, the company’s turnover amounted to €380 million – up 6% on the previous year.
The proportion of turnover accounted for by exports remained unchanged – at 77%.
Managing director Anthony van der Ley explained: “The turbulent weather has had a massive impact on our planning and schedules, which has put our suppliers under severe pressure.
“Fortunately, we are a family-run company working in close cooperation with our customers and business partners. Our employees’ commitment and flexibility have enabled us to process all orders and service requests as quickly as they came.”
Germany remains Lemken’s strongest performing market. Significant export destinations include France, Benelux (Belgium, the Netherlands and Luxembourg), Spain and Italy, as well as Canada and the US.
After six years, Lemken says that its production facility in India has become “quite successful”. In 2018, there was a “noticeable increase” in sales of two and three-furrow ploughs there.
Meanwhile, Russia is now Lemken’s second-largest export market. However, 2018 targets were not met there.
Included in its financial report is a reference to the acquisition of Dutch hoeing equipment manufacturer Steketee – purchased in response to “growing demand for sustainable, environmentally sound cultivation methods”.
Elsewhere, the report notes an €8.5 million investment in factory expansions and modernisation.
1,635 employees
Towards the end of last year, the company’s staff had grown by 165 employees to 1,635 in total (including 49 employees taken over from Steketee).
For 2019, the company is forecasting another “solid business year”. So far, it says, orders have been “good”.