09 Июля 2020

CLAAS: Bound for Record Profit

Krasnodar, 9 July. In 2019, the CLAAS factory in Russia reportedly gained the profit of nearly 2 billion roubles, which was the record amount since the beginning of its operations. 

The Company’s annual reports states that the record profit was achieved at the expense of the exchange rates fluctuations (341.7 million roubles) and reduction of costs. 

In 2018, the losses amounted to about 36 million roubles. Last year, the revenues dropped by 7% to 9.429 billion roubles. The Company’s financial report states that the sales revenues fell by 19% to 7.8 billion roubles; at the same time, the reimbursement for the discount granted to the agricultural manufacturers tripled and reached 1.634 billion roubles. The cost of goods sold dropped by 21.7% to 6.56 billion roubles, whereby the gross profit rose by 1.7 times to 2.87 billion roubles. 

The cost saving policy also contributed to the growing profit. Last year, the commercial expenditures dropped by 8 times to 75.6 million roubles. Other expenditures amounted to 162.8 million roubles, compared with 618.9 million roubles in 2018. At the same time, other earnings increased by 4 times to 419.2 million roubles.

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