Since 2020 Väderstad’s turnover has more than doubled - from 3,4 BSEK in FY20 to 7 BSEK in FY23. At the same time, recent years have been tough for both farmers, businesses and society as a whole in terms of political unrest, a war raging in Europe, climate changes, high interest rates, high commodity prices and volatile grain prices.
– The market and our farmers willingness to invest is affected by many different factors which are mainly outside our control. Despite this, we have increased our sales in many markets, where especially North America and Western Europe stand out positively. We are very humbled to have reached a turnover of 7 BSEK, where the demand for our products has been high during the year, says Rebecca Nygren, Vice President Finance & Legal at Väderstad.
Given the last successful years, the trend with major investments continues for Väderstad. In total Väderstad has invested 480 MSEK during 2023, including an expansion of the factory in Väderstad with additional areas for assembly and painting, as well as a new customer center and new offices in our US facility in Wahpeton, North Dakota.
– Increased sales has helped push our financial results in a positive way compared to last year. This means we can continue to invest in our sites, to raise the capacity in our production to help supply the world’s farmers with our high-efficient and high-quality machines for a sustainable and efficient food production, says Rebecca Nygren.
Väderstad has also grown in number of employees globally, from 2 000 in FY22 to 2 200 in FY23.
This week Väderstad also released our Sustainability Report for 2023, where you can read more about FY23 and how we continue to work for a sustainable future both for our products, our people, and our planet.