CEO Otto Drakenberg comments on the interim report

February 11, 2022

Focus on price increases and improvement program

Otto Drakenberg

Scandi Standards net sales during the fourth quarter 2021 were MSEK 2,435 (2,393), in line with the previous year. Operating income was MSEK 30 (56). The operating income was positively affected by items affecting comparability of MSEK 26 (-28).

The ready-to-cook segment has during the quarter been affected by a number of external and internal challenges. Net sales amounted to MSEK 1,789 and the operating income for the segment declined substantially to MSEK -32 (56). The operating income was, also in this quarter, negatively affected by significant price increases on several input factors, a continued challenging price situation in export markets as well as consequences from the measures taken to address the production challenges in Sweden and Ireland, in particular significant production reductions. The ready-to-cook segment in Denmark continue to make major losses and reported a negative operating income of MSEK -59 for the quarter.

The ready-to-eat segment reported a continued improvement with net sales for the quarter increasing 14 percent to MSEK 543 (476) with a slightly improved operating income. The development was driven by increased sales in the Foodservice sales channel and we note an increasing demand within this profitable segment. Scandi Standard has good capacity to meet the increasing demand during 2022, and in order to take advantage of growth opportunities, investments are planned to increase capacity further in Farre – the largest production plant for ready-to-eat products.

Otto Drakenberg,
Interim managing director and CEO

Please, see the entire interim report: English Swedish