Well-known Swedish farm machinery manufacturer Väderstad recorded a turnover of around €550m (6,1 BSEK) in 2024. This figure was down 13% on the firm’s record 2023 turnover, however, it still proved to be the second highest yearly total for the company to date.

“After several years of rapid growth, with a record turnover 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,” outlined the company.

“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.

“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”, says Henrik Gilstring, CEO of Väderstad Group.

“After several years of rapid growth, with a record turnover in FY23, FY24 proved to be a much more difficult year".