VikingGenetics 2024 Annual Report Announcement

A balanced account

VikingGenetics’ 2024 annual report, released today, shows a net profit of EUR 1,013 thousand, supported by a focus on cost management, investing in cutting-edge facilities and innovation, and strategic expansions in its international subsidiaries.

VikingGenetics’ annual report for 2024 shows a balanced account within budget expectations, with satisfactory results.

A decrease in total doses sold was partly mitigated by the well-established trend of increased sales of sexed-sorted doses, the introduction of new production efficiency tools, and additional cost management measures. This resulted in a total revenue of EUR 35.1 million and a profit of EUR 1.013 thousand, EUR 355 thousand up on 2023.

“We are confident that our strategy is maximising growth in Nordic farmers’ bottom lines and the quality of our genetics. Our mission is to support farmers in breeding healthier, more efficient cows, with decreasing climate impact, therefore improving the quality and sustainability of the food on our tables,” says VikingGenetics CEO Louise Helmer.

Investing in efficiency & sustainability

Over the past year, VikingGenetics has focused on production and logistics efficiency and accelerated genetic gain for the entire cattle population of Denmark, Finland, and Sweden.

To this end and to improve internal animal logistics and welfare, the Association expanded its Assentoft bull station with two new barns, a new semen collection area, and an embryo IVF laboratory. In Sweden, the sale of the “Örnsro” facility in Skara was completed.

VikingGenetics also placed a special emphasis on commercialisation opportunities from its vast portfolio of research and development. The launch of the CowFIT Monitoring System will start generating income in 2025, and the main CFIT project will be finalised in late 2026.

“Our export strategy focuses on long-term change to achieve sustainable results that enhance our research and genetic development feedback loop. There are no quick fixes in the bovine genetics industry; however, we are moving in the right direction to achieve greater success both domestically and internationally,” says Louise Helmer.

“Our investments reflect our curiosity and dedication to creating value, with balanced breeding as our guiding star to benefit people, profit, and the planet. We do this in collaboration with our network of partners and associates, some of the world’s leading experts in breeding research,” she adds.

The Nordic breeding direction

VikingGenetics’ long-term vision is supported by “the Nordic breeding direction,” a breeding strategy combining various bull profiles tailored to different needs. This is supported by close collaboration with the cooperatives Faba, Växa, and VikingDanmark, which unite 16,000 farmers to be the owners of VikingGenetics.

Internationally, a new logistical setup was established following the launch of VikingGenetics’ American subsidiary in 2023. The new setup will improve the ability to offer direct sales to American farmers instead of relying entirely on distributors.

The Association’s other subsidiaries in Australia, Germany, and the UK also achieved balanced results in 2024.

“As the leading genetics company of today and tomorrow, we must share in the prosperity of Nordic breeding. To achieve this, we are actively expanding our sales and seeking inspiration beyond our national borders,” concludes Louise Helmer.

VikingGenetics Annual Report 2024 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.