2017 was a good year for Danish Agro group
2017 was a good and successful year for the Danish Agro group, which met all its financial targets.
Pre-tax profit for the year was EUR 82 million, in line with the previous year. The group's executive board is highly satisfied with the profit made and improved financial KPIs.
Turnover in 2017 was EUR 4.2 billion, in line with the previous year. A late harvest and trends in commodity prices meant a fall in agribusiness turnover, compensated by increased activity within the machinery sales division.
Consolidated equity rose by EUR 64 million from EUR 593 million to EUR 657 million. Group equity has risen by EUR 379 million over the last five years as a result of focus on strong KPIs and value-creation for the owners. An increase in the group's solvency ratio to 31.3% is therefore also deemed to be positive, in the light of acquisitions in Germany, Sweden and within the machinery division made in recent years.
"We are very satisfied with the annual accounts for the Danish Agro group, which are the result of the strategy we have followed over several years. The criterion for group growth has always been healthy financial KPIs. Between the years of 2011 and 2017 the group doubled in size, whilst succeeding in boosting the solvency ratio from 22.7% to 31.3%. That's something we are highly satisfied with," says Group CEO Henning Haahr, who added that the target is a solvency ratio of around 35%.
According to Haahr, the Danish Agro group's objective is to retain its size in relation to competitors and suppliers, continuing its long-term growth strategy for the foreseeable future.