Väderstad Group’s turnover exceeded 300 million Euro for the first time in the company’s history for the financial year 2018, increasing by 27%. Net profit amounted to 11.8 million Euro.
The company also hired more than 150 new employees to keep pace with demand and continued to invest in product development of new and existing products.
Despite some challenging weather conditions – mostly drought – in northern Europe, resulting in lower yields, investment in soil cultivation machines and drills remained high.
A generally positive global economy and low interest rates contributed to a positive volume trend for Väderstad’s products, says Mats Båverud, president and CEO of Väderstad Group.
Order intake for 2018 remained good, 27% better than the previous year for machines and 26% better for spare and wear parts. The market in the industry continues to grow and Väderstad’s sales development has been positive in several parts of the world. Canada, Sweden and Russia top the sales list with the United Kingdom, Germany and Ukraine close behind.
“Väderstad’s machines save much effort in the field by performing several operations in one pass. This in turn saves resources and finances for the farmer. Our innovative concepts are appreciated by our customers and we are looking positively at the future,” says Mats Båverud.