Scandi Standard

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 Annual Report 2024 on the Scandi Standard webpage Reports & presentations | Scandi Standard

For further information, please contact:

Fredrik Sylwan, CFO Scandi Standard: +46 706 422 304

Henrik Heiberg, Head of M&A, Financing & IR: +47 917 47 724   
 

About Scandi Standard

Scandi Standard is the market leader in chicken-based food products in the Nordic region and Ireland. The company processes, markets and sells ready-to-eat, chilled and frozen products under the well-known brands Kronfågel, Danpo, Den Stolte Hane, Manor Farm and Naapurin Maalaiskana. Scandi Standard has a leading position within frozen breaded poultry products in the Nordic region and has recently acquired two of Europe's most efficient product lines in the Netherlands. Scandi Standard also owns an integrated, low-cost chicken operation in Lithuania. Scandi Standard employs over 3,200 employees and has more than SEK 13 billion in annual sales. For more information, please visit www.scandistandard.com.