DENMARK, Randers. Danish Crown has posted strong results for the 2018/19 financial year despite major challenges in the first half of the year under review. Record exports to Asia and satisfactory results by the group’s processing companies have generated DKK 500 mill. more for their Danish farmers.
Despite an increase in the raw material price of pork of more than 40% in the second half of the year, our Polish business Sokolów has posted a 25% increase in earnings, which is a historical high following the acquisition of the competitor Gzella. Danish Crown Foods has recorded solid earnings, with Baconspecialist Zandbergen and Danish Crown Toppings acquisitions returning particularly strong results, although the margins on, among other things, fresh meat and canned products remain under pressure.
The exports to Asia, especially China, which has been severely affected by African Swine Fever, were boosted significantly during the year. Total pork sales to China alone are up 29%, when measured in kg, while the total value of exports is up 63%.