Lantmännen’s results improve on the back of a strong swedish harvest

The agricultural cooperative Lantmännen from Northern Europe reported an increase in operating profit in the second four-month period, supported by a strong harvest in Sweden, cost-saving programs, and the impact of acquired and divested operations. The operating profit reached SEK 995 million (USD 106 million), up SEK 57 million compared to the previous period. At the same time, net sales declined to SEK 19.5 billion from SEK 20.1 billion a year earlier.

According to the company, this year’s harvest was significantly above average, which allowed for better utilization of agricultural production capacity and helped offset the weaker results of the previous two years. As a result, the agricultural division’s profit rose to SEK 391 million, with improved performance in the grain business being the main driver of growth.

Meanwhile, the energy division recorded a substantial drop in operating profit — from SEK 221 million to SEK 53 million — due to challenging conditions in the ethanol market. Lantmännen’s CEO, Magnus Kagevik, noted that the cooperative continues to adapt its operations by investing in the growth of Swedish food production, including new facilities for plant proteins in Lidköping and a grain terminal in Uddevalla.

Lantmännen is also active in Ukraine through Lantmännen AXA, with production facilities in Boryspil. Products under the AXA, START! and Finn Crisp brands are manufactured according to high European quality standards using Ukrainian raw materials and are highly popular among local consumers. The company’s head office is located in Stockholm, and overall, Lantmännen employs around 10,000 people across some 20 countries.

Tags: crop forecast, Sweden, Lantmännen