Establishment company posts turnover figures
- Väderstad, a global company in tillage, seeding and planting, reaches a turnover of £466m (6,1 BSEK) during Financial Year 24. Compared to FY23, this is a decrease in sales by 13 percent after a tough year – both for Väderstad as a company and for the whole agricultural industry.
After several years of rapid growth, with a record turnover of £535m (7,0 BSEK) in FY23, FY24 proved to be a much more difficult year. Several external factors, such as high interest rates, lower grain prices and deferred investment aid in many key markets have put pressure on many farmers over the past year and significantly weakened their investment opportunities.
On top of this, difficult weather situations in many parts of Europe have led to historically low harvests in several markets. The unstable political situation, with an ongoing war in Europe, has also continued to play a negative part for sales. There is no doubt this has been a difficult year for many farmers and the whole industry, but despite this Väderstad Group is still stable in a tough market situation. “We continue to work side-by-side with our customers, to develop machines that help them face their daily challenges,” says Henrik Gilstring, CEO of Väderstad Group.
Although many markets struggled during the recent year, there are exceptions, like Canada where Väderstad reached record high sales of Seed Hawk models. In the coming year, new product innovations like Väderstad Proceed and Seed Hawk 600-900C for the European market, will go into production which will be important products for Väderstad moving forward.
Väderstad’s financial year spans from October 1st to September 30th. At the turn of the year, Väderstad had 1 900 employees globally.
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