German agricultural technology specialist, Lemken Group, has reported sales in 2017 totalling €360m, an 11 per cent increase compared to the previous year.
Sales developed especially well in Eastern Europe, according to the company, with a current export share of 77 per cent.
Lemken says the global business environment for agricultural technology has recovered: “Almost all countries experienced an upturn. Cereal and milk prices have largely recovered, creating an upbeat investment mood among farmers. Demand from Russia and Ukraine was particularly high. Sales figures also increased by double digits in the overseas markets of Canada and the US. Lemken additionally achieved excellent sales results in the Czech Republic, Hungary and Poland. The company also further expanded its already solid business in the UK. As expected, demand was challenging on the French market, where investment was subdued as a result of disappointing harvests and prices.
“Sales developed positively across all product groups. Growth was particularly strong in the plough and compact disc harrow segments. However, sales of seed drills, cultivators and field sprayers were just as successful.” Lemken employed a total of 1,470 staff at the end of the year – a new record for the company. Managing director, Anthony van der Ley, said: “We are very happy that the economy has picked up again. Due to our employees’ outstanding commitment, we were able to produce considerably more machines than planned. We are also grateful to our partners among specialist dealers, who provided us with optimal support in sales and service.”