CEO Leif Bergvall Hansen comments on the fourth quarter and year-end report
Resilient in a challenging environment
Scandi Standard reports another quarter of underlying growth and a strong operating result. Compared to the fourth quarter last year, our top line increased by 3 percent in local currency. When including currency movement net sales declined by 1 percent, to MSEK 2,393 (2,420), and our adjusted EBIT increased by 10 percent to MSEK 115 (104), implying a margin of 4.8 (4.3) percent.
The strong operating result has been made possible thanks to 2/3 of our revenues arising from Retail chains in our five markets, which has proven resilient to negative Covid-19 effects. Retail demand has remained strong both for our Ready-to-cook and Ready-to-eat products.
Consumers in our five domestic markets are more focused than ever on locally produced products adhering to the strictest animal welfare, food safety and ESG ((Environmental Social and Governance), standards. We are spending considerable resources on continual improvements within a broad range of ESG KPI’s. Based on a platform of good experiences within these areas in the Nordic countries we have made substantial progress also in Ireland, which operated at a European average prior to the 2017 acquisitions. For example, we have reduced the average use of antibiotics from 70 to 25 percent and the lead indicator for animal welfare (foot pad lesions) by 14 percent.
Leif Bergvall Hansen,
Managing Director and CEO Scandi Standard