Claas reports record sales and 22% increase in profits

The Claas Group, and one of the world’s largest manufacturers of agricultural machinery, has reported record sales and a substantial increase in profitability for its 2017/2018 financial year.

Overall sales rose 3.4% increase to a new record of 3.889 billion Euros, up from 3.761 billion Euros, boosted by increased revenue from its core markets including Germany, France and the United Kingdom. On the back of this, profit before taxes rose  22.3% to 226 million Euros, up from 184 million Euros the year before.

Over the past 10 years, spending on research and development has doubled and reached a new record level of 233 million Euros, a rise of 7.3%. During the year, this resulted in the launch of the new Jaguar Terra Trac, the first forage harvester with integrated crawler tracks, plus the new generation Tucano including Montana hillside versions.

Considerable investment also continues to be made in fixed assets, rising 22.6% to 160 million Euro. This has included the modernisation of the main assembly line at the Claas Tractor factory at Le Mans, the construction of a new high-bay warehouse at the world parts centre at Hamm, a new machinery test centre at Harsewinkel and the start of the redevelopment of the CUK headquarters at Saxham and the distribution centre for Claas France.

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About The Author

John Swire - Deputy editor of Agronomist and Arable Farmer as well as responsibility for the Agronomist and Arable Farmer and Farm Business websites. After 17 years milking cows on the family farm John started writing about agriculture in 1998 and has since written for a variety of publications and has developed a wide circle of contacts within the industry. When not working John is a season ticket holder at Stoke City and also of late has become a fitness freak, listing cycling, swimming and walking as his exercises of choice.