Scandi Standard presents its Annual Report 2024
Scandi Standard presents its Annual Report 2024
Scandi Standards Annual Report for 2024 presents the previous year’s financial results and progress in sustainability, as well as corporate governance, management reports, strategy, and goals.
Scandi Standards CEO Jonas Tunestål:
“2024 was a year of strong performance in Scandi Standard. We accelerated operations according to our strategy and targets for 2027. Our Annual Report reflects a year of progress and essential achievements, and I am pleased to share our development within sustainability and finance over the past year.”
Highlights 2024
Broad overall growth throughout the Group
Both Ready-to-cook and Ready-to-eat, Scandi Standards’ largest segments, grew significantly during the year, which led to good growth. Earnings increased due to strong underlying growth and demand for chicken and a diversified customer base with higher profitability.
Scandi Standard Baltics
Scandi Standard’s acquisition in Lithuania strengthens the overall operations and accelerates the achievement of the financial targets and meeting future customer demand. Increased control in the value chain allows Scandi Standard to achieve cost efficiency, combined with the company’s high standards in quality, animal welfare, sustainability, food safety, and antibiotic usage.
Sustainability-linked financing
Scandi Standard signed a sustainability-linked loan to refinance existing bank financing and support long-term growth. The financing creates financial flexibility that allows the company to realise the organic potential set out in the financial targets and to simultaneously participate as a consolidated operator in existing and new markets.
New climate targets and the CDP A-list
The Science Based Targets initiative approved Scandi Standards’ new short-and long-term climate targets, which now include emissions according to the Forest, Land, and Agriculture (FLAG) standard. The company’s climate work also received external recognition through a place on the investor rating CDP’s A-list for climate.
CEO Jonas Tunestål:
“Our performance during 2024 created stable conditions to achieve our targets and deliver healthy returns to our shareholders. I want to thank all Scandi Standards employees, suppliers, and customers for contributing to this year’s success. At Scandi Standard, we are building a corporate culture based on collaboration, knowledge exchange and a focus on opportunities across the entire Group. This strengthens my confidence in our potential going forward.”
Please find the full report here: Scandi Standard Annual Report 2024 | Scandi Standard