Väderstad, global company in tillage, seeding and planting from Sweden, reached a turnover of 6,1 BSEK (532 Euros) during Financial Year 2024 (Oct 1 – Sept 31). Compared to FY 2023, this is a decrease in sales by 13 percent after a tough year, both for Väderstad as a company and for the whole agricultural industry.
After several years of rapid growth, with a record turnover of 7,0 BSEK (611 Euros) in FY23, FY24 proved to be a much more difficult year. Several external factors, such as high interest rates, lower grain prices and deferred investment aid in many key markets have put pressure on many farmers over the past year and significantly weakened their investment opportunities.
“On top of this, difficult weather situations in many parts of Europe have led to historically low harvests in several markets. The unstable political situation, with an ongoing war in Europe, has also continued to play a negative part for our sales”, says Henrik Gilstring, CEO of Väderstad Group. ” There is no doubt this has been a difficult year for many farmers and the whole industry, but despite this Väderstad Group is still stable in a tough market situation. We continue to work side-by-side with our customers, to develop machines that help them face their daily challenges”.
Although many markets struggled during the recent year, there are exceptions, like Canada where Väderstad reached record high sales of their Seed Hawk models. In the coming year, new product innovations like Proceed and Seed Hawk 600-900C for the European market, will go into production which will be important for Väderstad moving forward.
Väderstad’s financial year spans from October 1st to September 30th. Turnover is mentioned in Million Swedish Krone (MSEK).
At the turn of the year, Väderstad had 1,900 employees globally.
Väderstad also released its 2024 Sustainability Report. With the health and safety of farmers and employees as top priority, measures taken during the year have resulted in a reduction of work-related injuries for employees. During the year Väderstad also implemented measures to reduce the footprint from their own facilities, focusing on energy efficiency.
Read more about the 2024 Väderstad Sustainability Report HERE
