The increase in turnover was strong compared to the previous year, when Väderstad reached 340 MEUR.
– We have grown by 24 percent, but part of it comes from the acquisition of the AAJV company in the USA which we purchased in May. But even if we exclude the acquisition, we grew 21 percent, which is a fantastic result, says Nicklas Bjersér, Vice President Finance & Legal at Väderstad.
The foundation for Väderstad’s growth is a strong increase in sales, where important markets such as Russia, Canada, Sweden, Germany and England are doing very well.
– It has been a good year for many farmers with high grain prices and thus a stronger willingness to invest. We are increasing our sales in all our product areas: tillage, seeding and planting. But above all we can see that our planter Tempo continues to gain market shares in several markets, says Mattias Hovnert, Senior Vice President Sales & Marketing at Väderstad.
Väderstad has also grown considerably in the number of employees during 2021, in December Väderstad passed 1900 employees globally. The earnings went from 19 MEUR in 2020 to 40 MEUR in 2021, money that will largely be used for further investments.
– We have a well-functioning production which means that we can deliver this great financial result. We will use the money to invest for a further expansion of our production facilities in Sweden, Canada and the US – and to put even more focus on innovation and product development, says Mats Båverud, CEO of Väderstad.
The global pandemic Covid-19 has continued to affect both Väderstad and the rest of the world during 2021, which also influenced the financial result.
– It has affected us with partly higher material costs and some disruptions in material deliveries. Overall, we have still done well with a strong improvement in earnings compared to 2020. It should also be remembered that we have not applied for or received any government grants due to Covid-19 during 2020 or 2021, says Mats Båverud.