Lantmännen: Food Sector performed well in 8M/2014

Stockholm / SE. (lg) Lantmännen´s profit after net financial items for the first eight months of 2014 amounts to 1’118 million SEK – compared to 640 million SEK for the same period last year. The higher result reflects capital gains from the IPO of Scandi Standard and sale of Lantmännen´s German and Polish plant breeding and seed business. Adjusted for items affecting comparability, the result for the first eight months amounts to 437 million SEK (434 million SEK), a result on the same level as the previous year.

«Thus far, 2014 has been characterized by continued and determined efforts in line with Lantmännen´s strategic alignment, and an increased focus on creating value in the grain value chain. A number of major corporate transactions have been completed during the summer, and Lantmännen has initiated several strategic partnerships – for example within the plant breeding and seed area. This is part of our long-term strategy, and has contributed to strengthening Lantmännen´s financial position, as well as positioning the Group for future growth», says Per Olof Nyman, Lantmännen´s Group President and CEO.

The Agriculture Sector´s result for the first eight months amounts to minus eleven million SEK (2013: 85 million SEK). The Machinery Sector´s result for the first eight months amounts to 88 million SEK (129 million SEK). The Energy Sector´s result for the first eight months amounts to 28 million SEK (minus 55 million SEK), a substantial improvement over the previous year. Lantmännen Real Estate´s result for the first eight months is on the same level as last year: 103 million SEK (99 million SEK).

The Food Sector´s result for the first eight months amounts to 364 million SEK (351 million SEK). The sector continues to perform well; adjusted for the divested chicken business, the sector´s result is clearly higher than the same period last year. Lantmännen Cerealia has made a number of corporate transactions in the last four-month period, which strengthens the business for the future. Within Lantmännen Unibake, most markets continue to perform very well – particularly in the UK, where the result has improved considerably. Sales have also increased significantly in Poland, Finland and Russia in the last four-month period.