RECORD TURNOVER ANNOUNCED

The Claas Group recorded an increase in sales of 2.7% to a new high of €4.9 billion for the 2022 financial year, despite the difficult trading conditions.

The manufacturer said their EBITDA margin remained high at 8.8% but profits before taxes fell to €166.3 million mainly as a result of impairments in Eastern Europe. They also said the company continues to see strong demand for its products, especially in North America but sales in Europe, although down slightly, were still strong.

CEO Thomas Böck said, "The year 2022 has challenged us in every respect. In this difficult mix, we have shown how resilient our business model is. We delivered and proved with a lot of personal commitment that we can measure up to our vision of making customers the best in their field. We have delivered 100% on our harvest promise to our customers. For this, all employees and distribution partners deserve my thanks."

The 2022 financial year saw the company continue with its investment programme, with €130 million being invested in its global sales and production network, while R&D spend was increased by 6.4% to €279 million.

Full details are available here.