Claas is spending more on research and development than it has ever done in its history, findings from the company’s latest financial figures reveal. The agricultural machinery OEM devoted €233m (US$264m) to developing new technologies, equating to double what it spent a decade ago.
The Jaguar 960 Terra Trac launched by Claas was the first forage harvester to market featuring an integrated caterpillar track solution. The vehicle offers good soil protection in all conditions and is complimented by the new Orbis corn header that provides an optimal crop flow.
Despite the increased spending on R&D, the OEM managed to see annual profits rise by €42m (US$47.5m) to €226m (US$256m) before tax for the year.
“We have continued our growth in a volatile market environment and once again significantly improved our profitability. A strong impetus originated from Germany and Western Europe in particular,” said Hermann Lohbeck, speaker for the Claas executive board.
The global market for professional agricultural technology developed stably this year, in line with association expectations. Against this background, the company noticeably improved revenue in core countries including Germany, France and the UK. In Eastern Europe, a slight project-related decline in sales could be observed. A mixed picture emerged in the countries outside of Europe: while sales in North America increased in the local currency, China recorded a decline as a result of market uncertainty.