Claas, the well-known German machinery manufacturer, increased its revenue in the 2021 fiscal year by 19% to €4.798bn, up from €4.042bn last year. This brought pre-tax earnings up to €357m (€158m last year).
Claas said that the drivers of last year’s growth in North America and eastern Europe have been joined by the core markets in western and central Europe, including Germany and France.
The UK also experienced major growth, despite the uncertainty surrounding Brexit.
Expenditure on research and development set a new record at €262m. Investments in fixed assets totalled €138m, and included developments at its tractor factory in France and modernisation of the combine production facilities in Germany and Russia.
The manufacturer today employs 11,957 people worldwide.
The company explained that the supply situation and price development on the procurement markets present a greater risk compared to last year.
Overall, the company anticipates stable demand for agricultural machinery during 2022.