News Half-year figures
Danish Crown profit remains high despite inflation
Although the result of Danish Crown is lower, the Danish slaughter group is still making a big profit. In the first half of the broken financial year 2021/22, a profit of €147 million was made.
Turnover rose in the first half of the broken financial year (which runs from July to December) by 3,6% to a record of more than €4 billion. Due to higher costs for transport, packaging material and energy, profits declined somewhat. Still, the numbers are impressive compared to European competitors like Vion en West meat, who had to report a solid million loss for the whole of 2021. Also Tönnies reported a significant loss of turnover, without commenting on the benefits.
Chinese sales are missed
Despite the fact that the Danish cooperative meat group is still writing green figures, there are talks about difficult conditions on the sales markets. The drop in demand in China is especially a loss. As a result, Danish Crown is now focusing more on Europe, the United States, Australia and Japan. Subsidiary DAT-SCHAUB, which sells animal products to the pharmaceutical industry, made a positive contribution to the result. The cattle branch is also performing well. The shortages have pushed prices to record levels. Earlier, CEO Jais Valleur said that beef, like champagne, will become a luxury good.
Pig price lags behind
Valleur is not satisfied with the pig price that the cooperative suppliers receive. Danish Crown has set itself the target of paying €0,08 per kilo above the European benchmark, but is nowhere near that. In the first half of the year, the pig price was on average €0,02 above the European average. This goal has been achieved in recent years. Valleur talks about difficult circumstances for the pig farmers associated with the slaughter group.
Wouter Job
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