Claas has announced its results for the 2024 financial year (ended 30 September) where it recorded net sales of €5bn, €1.1bn (19%) lower than in 2023. The manufacturer cites uncertainty in light of tight producer prices, elevated interest rates, severe weather conditions and geopolitical tensions all which meant contractors and farmers were hesitant to purchase.
Claas has announced its results for the 2024 financial year (ended 30 September) where it recorded net sales of €5bn, €1.1bn (19%) lower than in 2023.
The manufacturer cites uncertainty in light of tight producer prices, elevated interest rates, severe weather conditions and geopolitical tensions all which meant contractors and farmers were hesitant to purchase.
In what it describes as a year that tested the organisation, Claas stayed on course and made an operating profit of €584m (€769m in 2023) before depreciation.
Net income was €253m (€347m in 2023).
“The year 2024 has tested our organisation. Claas has stayed on course even in rough waters,” outlined CEO Jan-Hendrik Mohr.
“In times like these, it is crucial to stand together, manage costs efficiently and proactively advance our business. We have once again increased our R&D expenditure to over €330m and made targeted investments in future projects, new technologies and our production network. In this way, we ensure sustainable growth and drive innovation.”
Subdued outlook
Claas says that the outlook for 2025 is subdued and given the existing global risks it expects a moderate decline in sales and a noticeable decline in income before taxes for the 2025 financial year.
Due to the subdued outlook for the sector and the existing global risks, Claas expects a moderate decline in sales income before taxes for the fiscal year 2025.
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