Claas Group sales increased by 3.4% this year to a new record of €3.8 billion (2017 €3.7 billion), and profit before taxes rose by more than 22% to €226 million.
Sales declined slightly in Eastern Europe, and it was a mixed bag outside of Europe (up in North America, down in China), but the family-owned business managed to improve revenues in Western Europe and particularly in the core countries, including Germany, France and the UK.
“We have continued our growth in a volatile market environment and once again significantly improved our profitability,” said Hermann Lohbeck, speaker of the Claas executive board.
Claas R+D investments reached a new record of €233 million. An increase of 7.3% on 2017’s €217 million, the company’s R+D spend has doubled over the past decade. Considerable investment also continues to be made in fixed assets, rising 22.6% to €160 million.
This has included the modernisation of the main assembly line at the Le Mans tractor plant, 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 company’s UK headquarters at Saxham and the distribution centre for Claas France.
The number of Claas employees around the world grew slightly this year to 11,132, of which nearly half work in Germany.
