CEO Leif Bergvall Hansen comments on the second quarter
Continued strong operating performance
Scandi Standard delivers strong results for the second quarter of 2020. With stable net sales compared to the same quarter last year, adjusted EBIT increased by 7 percent to MSEK 122, equating to an adjusted EBIT margin of 5.0 percent, a five year record quarterly margin.
The flat development in Net sales is partly attributed to downward price adjustments implemented in late 2019 to pass through decreased raw material prices for feed. Reduced Foodservice sales due to the effects of the Covid-19 pandemic, have been offset by the spike in Retail sales as consumers are spending more time at home, which in turn is driving the margins up.
Leif Bergvall Hansen,
Managing Director and CEO Scandi Standard