German company Horsch achieved record turnover of 2020 of €493 million, meaning the manufacturer’s operating figures came in 17% above its 2019 financial results.
This is according to the company’s press release.
Double-digit turnover growth is expected in 2021. Through July, machines were shipped largely without issue. How the last quarter of the current year turns out remains to be seen (forecasts will have to wait a bit). However, turnover in Germany and France grew 16% and 13.7% respectively, even as both markets combined grew by 10% in 2020.
As the company assures, Eastern European markets are a reliable mainstay for Horsch: Ukraine and Kazakhstan account for 13% of turnover, while Russia together with the Baltic states account for 10%. Over the past two years, Horsch has built its own plants to increase market access, for example in Poland, Sweden and Canada.
