The Austrian family-owned agricultural machinery manufacturer, Pottinger, has reported a 26.8% increase in turnover for the 2022/2023 financial year.
Pottinger, which was founded in 1871, manufacturers a range of products from mowers to balers, ploughs and also digital agricultural technology.
The company today (Tuesday, August 28) published its latest annual report which showed that its turnover had grown from €506 million to €641 million in its last financial year.
According to Pöttinger grassland equipment continued to “generate the largest share of machine sales”, it also detailed that new developments in loader wagons and mowers had made “an extraordinary contribution” to its recent performance.
The Austrian company said that “innovative equipment” for arable farming also continues to be one of its key drivers for “ongoing growth”.
“Agriculture in the domestic market accounted for a solid 10% of turnover in the past financial year 2022/2023.
“In terms of market share, Austria continues to be on top of the podium as the country with the highest turnover. Germany tops the list as the largest single market, followed by France,” it stated.
It also highlighted in the latest annual report that while the war in Ukraine has had an impact in some countries the company also continued to grow its sales “in almost all of the markets in Europe, America and Asia”.
The company which has 17 sales subsidiaries around the world – including one in Clonmel, Co. Ireland – and six production plants in Europe – currently employs 2,170 people.
But Gregor Dietachmay, a member of Pöttinger’s executive board, said it expects to see “lower levels of demand” in most markets in the coming year.
“Signs of this have already been evident for several months. Despite this, there is still sufficient potential for further development and continuing on our course of growth.
“Supported by sufficient production capacities, a strong team, improved processes, optimised distribution and a product range that is continuously adapted to the needs of the markets, we are able to respond well to upcoming market fluctuations and are well prepared for future challenges,” he added.