Despite last year’s drought in northern Europe, demand for cultivation kit and drills remained high and Väderstad Group turnover topped €300 million (+27%) for the first time.
With a net 2018 profit of €11.8 million, the generally positive global economy and low interest rates contributed to a positive volume trend for Väderstad’s products, said president and CEO Mats Båverud.
Last year’s order intake remained good, 27% up on the previous year for machines and 26% in the plus for spare and wear parts. Canada, Sweden and Russia top the sales list with the UK, Germany and Ukraine close behind. Sales of the Tempo precision planter continue to grow with pre-season sales for 2019 starting strongly.
“Our innovative concepts are appreciated by our customers and we are looking positively at the future,” said Mr Båverud.
The company recruited 150+ new employees last year to keep pace with demand and continues to invest in developing new and existing products, some of which will be on display at SIMA next month.
