Scandi Standard’s Annual Report for 2016 is now available. Below is a brief summary and link to the Annual Report.
• Net sales increased by 10 percent to MSEK 5,967.4 (5,422.9) and by 10 percent in constant currency.
• Strong increase in net sales in Norway, Finland and Sweden.
• A number of new products were successfully launched in all countries.
• The bird flu was detected in a number of countries in Europe and from November in Denmark, Sweden and Finland, which led to trade bans regarding export from these markets.
• Operating income declined to MSEK 238.2 (259.5). The bird flu had a negative impact of approximately MSEK 40 on operating income in the fourth quarter.
• Adjusted operating income1) declined to MSEK 251.6 (291.5), corresponding to a margin of 4.2 (5.4) percent.
• Adjusted operating cash flow1) declined to MSEK 126.1 (324.2) due to higher capital expenditure and an increase in working capital driven to a large extent by the growth in net sales.
• The market position was strengthened in all Nordic countries.
• A majority shareholding was acquired in March in Sødams Øko Fjerkræslagteri ApS, a Danish producer of organic and free-range chicken with annual sales of approximately MDKK 18.
• The Board proposes a dividend for 2016 of SEK 1.35 (1.80).
Scandi Standard's Annual Report 2016