Swedish agricultural cooperative, Lantmännen, has announced a record dividend of 1 080 million Swedish kronor, thanks to a strong financial performance in 2022. The dividend decision was made at the Annual General Meeting, with the payment now being made to the cooperative’s members, Swedish farmers.
Record Dividend Decided at Annual General Meeting
The dividend decision made by the Annual General Meeting marks a significant milestone for Lantmännen, as it is the highest dividend payment in the cooperative’s history. The Chairman of the Board, Per Lindahl, expressed his gratitude towards the members and employees of Lantmännen, who contributed to the strong financial performance that made this record dividend possible.
Lantmännen’s Chairman of the Board, Per Lindahl, said, “It is very gratifying that the board once again can propose a record dividend to our members. The great cost increases for input goods, energy and transports have been – and continue to be – great challenges and business risks for Swedish farmers. Lantmännen’s dividend is an important contribution to ensure profitable and sustainable Swedish farming and Swedish food supply.”
Highest Financial Result Ever
Despite high economic uncertainty and an unstable external environment, Lantmännen was able to deliver its highest financial result ever in 2022. The result after net financial items and adjusted for items affecting comparability amounted to 2 536 MSEK, an improvement over the 2021 result of 2 202 MSEK. Lantmännen’s broad business portfolio has been credited as a major reason for the strong financial performance.
According to Lantmännen’s Group President and CEO, Magnus Kagevik, “We are in a good position and will continue to invest in the entire value chain from field to fork, and in developing a thriving Swedish agriculture and a robust Swedish food supply. Lantmännen’s ambition is to be the best agricultural cooperative in the world, and I look forward to continuing to develop the group together with all our members and employees.”
Challenges in the Food Sector Operations
While Lantmännen’s overall financial performance was strong, the Food Sector operations were put under pressure, with cost increases for input goods, energy, and transportation posing significant challenges for Swedish farmers. Lantmännen’s dividend is seen as an important contribution to ensuring profitable and sustainable farming and a robust food supply in Sweden.
Conclusion
Lantmännen’s record dividend announcement is a testament to the cooperative’s commitment to supporting Swedish farmers and developing a thriving agricultural sector in Sweden. Despite economic uncertainty and external challenges, Lantmännen’s strong financial performance is a result of its broad business portfolio and ongoing investments in the entire value chain from field to fork. The dividend payment will provide crucial support to Swedish farmers, helping to ensure profitable and sustainable farming and a robust food supply in Sweden.
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