Positive trends in the annual result testifies to an important turning point for DanBred. After a year of major changes, the company delivers significant progress in 2023. Revenue has increased by more than 15 % to DKK 1.1 billion. EBITDA is at DKK 34 million. In early summer 2024, the company will move to a new modern office facility.
DanBred has just reported the financial statements for 2023. Despite a year of internal changes, the company is delivering significant positive progress. Revenue increases to DKK 1,098 million (2022: DKK 950 million) with an EBITDA of DKK 33.9 million (2022: DKK -58.8 million), and a profit after tax of DKK 7.6 million (2022: DKK -247.9 million). The main growth has been achieved through progress in both the nearby markets in Denmark and Europe, but also the overseas markets have shown a positive development for the company during 2023. At the same time, it is noted that the result for 2022 was affected by extraordinarily large impairment charges on intangible assets.
Chairman of the Board, Truels Damsgaard, says: “I’m very pleased that the turnaround, we initiated in the past year, is already paying off in 2023. We work within a very competitive segment, where the global markets are still under pressure, but on a broad scale, the organisation delivers on the goals that have been set, and strategically I believe DanBred is on the right track.”
Following a time, where the terms of trade have been unfavourable in several large markets, pig producers now focus on optimising the production parameters where DanBred has a proven leading position, which has been established in both Danish and international farm trials during 2023.
“I’m satisfied with the result we have presented to the Board of Directors. We are on the right track in our turnaround, and we continue to work to optimise the business every day. The result for 2023 shows that the combination of our quality genetics and the strength of our organisation contributes to that pig producers all over the world achieve significantly improved results by choosing DanBred’s market-leading solutions,” says CEO, Torben Aarris.
The positive development brings more good news. In 2024, several large functional areas within DanBred will physically move in together, when DanBred in early summer moves into a new, modern office facility.
“Across the management team, the Board of Directors, and the ownership, there is a broad agreement that this is an important step in the development of DanBred. We are very happy about the support given to this significant milestone, which, in addition to reflecting the company’s positive development, also underlines the confidence and faith in DanBred’s future,” the CEO concludes.
The new office will be registered as the company’s headquarters, while a smaller proportion of activities will still take place at the company’s branch office near Copenhagen.
For further press information, please visit: DanBred press.
