Scandi Standard’s Annual Report 2016

April 5, 2017

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).