Despite an increasingly difficult market environment, Claas saw its net sales rise by 0.2% to €3.898 billion for the financial year to the end of September.
A record investment of €244 million in R&D (€11 million increase on previous year) culminated in a number of major product launches, including the new Generation 2 Lexion combines, the Axion 900 Terra Trac and flagship Jaguar 990. Plus, the company invested €125 million in property, plant and equipment, and overall income before taxes fell by nearly 40% to €136 million (previous year €226 million).
“Claas recorded stable development in an increasingly negative market environment,” said CEO Thomas Böck of the Claas Group. “Despite the anticipated drop in income, we kept the company on course and systematically invested in the further digitalisation and the expansion of our market positions.”
There was a significant rise in sales in France and the rest of western Europe. In eastern Europe, core business continued to develop well, while sales in Germany fell as a result of weather conditions. Outside Europe, the situation was mixed, with overall sales down year on year.
Despite regional uncertainties, the company expects the global market to be stable in 2020 and forecasts a moderate rise in sales and stable income. However, it does not rule out the negative effect that simmering international trade conflicts and the risk that a further economic slow-down could have on sales.
The number of Claas employees worldwide increased by nearly 3.0% last year to 11,448. More than 5,500 work in Germany.
