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2 May 2024 - Assentoft, Denmark

2023 Annual Report shows a balanced account and a focus on long-term investments

A balanced account

VikingGenetics’ 2023 annual report, released today, shows a net profit of EUR 658 thousand, supported by a focus on a new value pricing model, extensive changes in key markets, and continued investment in climate-oriented research.

VikingGenetics’ annual report for 2023 shows a balanced account within budget expectations, satisfying the aims in a transition year for the company’s new leadership in its first full calendar year.

A decrease in total doses sold was partly mitigated by increased demand for sexed-sorted doses and a new value pricing model on both conventional and sexed semen doses. This translated into a revenue increase from EUR 34.7 million in 2022 to EUR 35.3 million in 2023.

“We are confident that the path we are following is the right one for the value and quality of our genetics. Our mission is to create more value for Nordic farmers through innovative breeding work and continuous investment in research and development,” says Louise Helmer, CEO of VikingGenetics.

VikingGenetics Annual Report 2023

The long-term picture

The importance of genetics in the dairy and beef value chain has become more apparent over the past year. For this purpose, VikingGenetics has allocated additional investment capital for the VikingEmbryo programme, and further farm installations of the Cattle Feed Intake System (CFIT) and methane sniffers in the ONIMIT project.

“Genetics is a long-term investment, and we expect to see the results impact of our work from 2026-2027 onwards. This will be reflected in a U-turn in the total doses sold to our export markets, returning to a positive total sales trend and a greater share of the pie in our focus markets,” says Louise Helmer.

“We are committed to producing future-friendly genetics that improve the quality and sustainability of the food on our tables. By helping farmers breed healthier, more efficient cows, with decreasing climate impact, we also contribute to the benefit of end consumers and society,” she added.

As part of VikingGenetics’ long-term strategy for better efficiency and profitability, the sale of the Falkenberg facilities in Sweden was completed. The sale of the property in Skara has also been fulfilled and will appear in the 2024 report.

VikingGenetics Annual Report 2023

Nordic philosophy, global footprint

VikingGenetics’ long-term vision also accounts for a fortified Nordic profile supported by closer collaboration with its member organisations – Faba, Växa, and VikingDanmark. Nordic farmers drive the company’s breeding philosophy for more efficient and sustainable cows.

“Our passion for breeding is the backbone of VikingGenetics and its members; it drives us and our international successes forward. Having a close relationship with the Nordic farmers is essential for us,” says Louise Helmer.

VikingGenetics’ historical top market, the USA, highly underperformed in 2023. To solve this, VikingGenetics launched a new American subsidiary to support the sales turnaround. The company’s daughter markets – Australia, Germany, and the UK – also play a vital role in the process.

VikingGenetics Annual Report 2023 Louise Helmer

For further information

Louise Helmer

CEO, VikingGenetics

Mobile: +45 2053 2905

lohel@vikinggenetics.com 

 

Brian Lang

CFO, VikingGenetics

Mobile: +45 2981 5280

brlan@vikinggenetics.com 

 

For any additional requests, please contact: 
Content Writer, Tomás De La Rosa at tomro@vikinggenetics.com 

 

Photos

Photos can be downloaded here.

 

About VikingGenetics

VikingGenetics is a cattle breeding co-operative owned by more than 16,000 dairy and beef farmers in Denmark, Sweden, and Finland. We focus on animal welfare, food security, and reducing climate impact in our entire production chain. We partner with universities, research organisations, and experts across the globe to give our customers the tools and technology to select the best bulls.

With our solutions, our customers can continuously improve the genetic gain for each generation of their herd. Our results are rooted in the long-term relationships with our farmers and the close link between research and implementation. Our commitment is to lead the dairy and beef industry in finding solutions to lower methane emissions and breed long-lasting, climate-friendly cows.