Claas Fiscal Year Report

December 18, 2008 10:30 AM
The report from fiscal year 2007/2008 presents the best sales results to date for Claas. The total sales for company rose by $2.2 billion, an increase of 21.7%. The company's research and development expenditures increased from $2.9 million to $79.6 million. Company sales outside of Europe increased, with the ratio of export sales to total sales of 77.6%, compared to the previous year's 76.3%. For North America, Claas manufacturers its hay and forage equipment in Germany and its line of Lexion combines in Omaha, Neb.
Claas credits a good harvest and strong demand for ethanol for strengthening its North America business. The recovery phase that began last year in the South American market continued to improve during this time period. The Indian market remained stable and Claas opened a new production facility for rice combines in Chandigarh, Punjab.
As for its forecast into 2009, despite significant grain price declines Claas expects favorable income from farming to continue. In their assessment, business will remain balanced overall, even though there will be fluctuation from market to market.
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