The German agricultural machinery manufacturer ended the 2024 financial year with sales revenues of €5 billion, down 19% on the previous year.

EBITDA's result this year was €584 million, or 24% less than in 2023, when the figure was €769 million. Consolidated net profit for the year, on the other hand, amounted to €253 million, or almost 27% less than last year (€347 million).

„Tight producer prices and continued rising interest rates have put the agricultural sector under severe pressure. In addition, extreme weather conditions and geopolitical tensions have led to considerable uncertainty, resulting in less investment in machinery by farmers and contractors. These extraordinary effects were typical of the business development of the entire agri-tech sector in the 2024 financial year, – said „Claas“ in a statement.

„2024 was a challenging year for our organisation. CLAAS has maintained its direction even in stormy waters, – says „Claas“ CEO Jan-Hendrik Mohr‘. In times like these, it's important to stand together, control costs and actively develop our business. We have increased our R&D spending to more than €330 million and made targeted investments in future projects, new technologies and our production network.

„Claas“ forecasts a further decline in sales revenues in 2025. „The current evolution of the sector is characterised by a decline in farmers' farm-gate prices, which are below the multi-year average, and therefore in their investment opportunities. Due to the weak outlook for the sector and the current global risks, „Claas“ expects a moderate decline in sales in the 2025 financial year and a significant decrease in profit before tax compared to the previous year, – the report summarises.