Väderstad continues expanding and increases its turnover by 27 percent

Väderstad Group turnover growth

Väderstad closes the 2018 financial year with record turnover and passes 300 million Euro for the first time in the company’s history.

- 2018 was a record year for Väderstad. We hired more than 150 new employees and we continue to invest in streamlined production. Furthermore, we continue to invest in product development of new and existing products, so that we can meet the high demands from our customers. This year’s drought, especially in northern Europe, resulted in lower yields in many of our normally strong markets. However, cereal prices rose in autumn. So, despite weather-related challenges, we see an increased interest in investing in soil cultivation machines and planters which increases the crop for the farmer in the aftermath of the drought. A generally positive global economy and low interest rates has contributed to a positive volume trend for Väderstad’s products, says Mats Båverud, President and CEO of Väderstad Group.

During the 2018 financial year, Väderstad Group reports a total turnover of 300 million Euro, of which 10% represents sales within Sweden. Net profit after financial items amounted to 11.8 million Euro.

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 England, Germany and Ukraine close behind.

- The precision planter Tempo continues to reap success in sales and we see that pre-season sales for 2019 have started out strong. The signals are positive from most of our markets. 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.