Model initiative continued – LEXION combine harvester receives award
The model offensive was continued in the 2022 financial year: This included the premiere of the new generation of the top model LEXION, which received the "Farm Machine" Award 2023 in the combine category at the French trade fair SIMA, and the DOMINATOR 260. In North America, the new TRION 740 medium hybrid combine and the AXION 900 TERRA TRAC large tractor series were successfully launched. With the NEXOS special tractors (after Stage V), the mid-range TORION wheel loader series, the latest generation of SCORPION telescopic loaders, the VARIANT 500 round baler and the QUADRANT EVOLUTION II square baler, other important product areas have been modernised and expanded. For the LEXION combine harvesters, the JAGUAR forage harvesters and the CLAAS tractors, after the TRION, the new CLAAS CEMIS 1200 terminal is now also available as the successor to the previous S10 universal terminal.
Workforce – training expanded
As of September 30, 2022, the CLAAS Group employed a total of 12,116 people (prior year: 11,957) worldwide, approximately 50.4% of which are outside of Germany. As of September 30, 2022, the CLAAS Group employed 792 apprentices (prior year: 775), 493 (prior year: 473) of which are in Germany. CLAAS trains young people in Germany in various technical and business professions, as well as within a “dual study” program, with alternating phases of theory and practice. The same applies to other countries in which CLAAS operates, such as France, Hungary, the UK, and India.
Outlook
For fiscal year 2023, CLAAS anticipates double-digit sales and income growth despite the present uncertainties. The company expects demand for agricultural equipment to remain stable overall in the main sales regions in Middle and Western Europe, as well as in North America. The number of international orders over the coming months is above average. CLAAS forecasts continued strong growth in the region of North America, thanks in particular to the broader combine harvester and tractor range. Investments in the expansion of the global production and sales network – and in innovative technologies such as digitalization, and autonomous farming – will strengthen the market position on a lasting basis.
CLAAS Group |
(IFRS) | 2022 in € million | 2021 in € million | Change in % |
Financial performance |
Net sales | 4,925.5 | 4,797.8 | +2.7 |
EBITDA | 435.7 | 532.1 | -18.1 |
EBITDA as a % of net sales | 8.8% | 11.1% | -2.3 pp |
Income before taxes | 166.3 | 357.1 | -53.4 |
Net income | 88.1 | 272.6 | -67.7 |
Statement of cash flows and balance sheet |
Operating cash flow | 225.5 | 580.5 | -61.2 |
Free cash flow | 22.2 | 381.5 | -94.2 |
Net liquidity | 430.0 | 480.5 | -10.5 |
Equity | 1,848 | 1,717 | +7.6 |
Total assets | 4,566.1 | 4,246.1 | +7.5 |
Employees on reporting date (Sept. 30) | 12,116 | 11,957 | +1.3 |
Full details are available at annualreport.claas.com