Claas has announced a 25% increase in sales to 6.1 billion Euro for its 2023 financial year, compared to 4.9 billion Euro the previous year.

Claas CEO Jan-Hendrik Mohr

The manufacturer says the substantial leap in sales reflected the high demand for agricultural machinery and clearing the high order backlog following the pandemic, with their sales particularly strong in Europe and North America. Income before taxes also tripled from 166.3 million Euro to 522.3 million Euro with net income rising to 347.1 million Euro.

Last year also saw the company spend on research and development total 302 million Euro, up from 279 million Euro. Capital expenditure totaled 207 million Euro and the number of employees throughout the world was 12,131.

Looking ahead to the forthcoming year, Claas CEO Jan-Hendrik Mohr said, "In the new fiscal year, however, we will have to prepare ourselves for a more difficult market environment.

"While order backlog is returning to normal, the pace of economic activity is slowing perceptibly in our core markets in Central and Western Europe and North America, due in no small part to high inflation and mounting geopolitical tensions. In light of current events, the Claas Group will consistently pursue the strategy it has adopted and continue to build on its strengths."