In Denmark, Danish Crown performed well, especially compared to the previous year 2022/2023, slaughtering 1.5% more cattle than in the prior fiscal year.
Fewer organic pigs and cattle were slaughtered in Denmark, although organic consumption in the country has increased. The revenue of the organic meat division Friland rose by 5% in 2023/2024 to over 129 million euros.
Foreign enterprises in which Danish Crown holds a stake did not contribute sufficiently to the group’s profits, according to the company’s annual report. Last year the company decided to divest several foreign subsidiaries. The Swedish KLS met expectations, while the Polish Sokołów faced intense competition and saw its profits fall by 32%.
To ease financial pressure, Danish Crown initiated a restructuring and an extensive cost-cutting plan last year. As a result, non-pig producers are now allowed to hold preferred shares in the company, and several hundred jobs will be cut.
Due to disappointing figures, only a limited retroactive payment could be made to shareholders and pig producers. Therefore, the newly appointed Board of Directors this year decided to make an additional one-time retroactive payment over the past five years from company reserves.