Lantmännen members to receive SEK 1 billion
05 May 2022, Sweden: Despite sharp rises in costs and increased uncertainty in the global value chains that continues to make a clear impact on both farming and food production, Lantmännen delivered record earnings in 2021, which has enabled a record dividend of SEK 1,000 million that will now be paid to its members, Swedish farmers. The dividend resolution was adopted by the Annual General Meeting today.
The dividend to members – that was voted through at the Lantmännen Annual General Meeting today – is the highest dividend in Lantmännen’s history, SEK 1 billion in total.
“We have put another unusual year behind us, marked by a pandemic and harvest challenges. Thanks to Lantmännen’s fantastic earnings, the Annual General Meeting has been able to resolve on the distribution of the highest dividend ever to our members. It is particularly gratifying to be able to pay this dividend this year, at a time when farming is being hit hard by cost increases of inputs and high energy prices, while also facing major challenges ahead. In conclusion, I would like to thank all the employees and members who contributed to this fantastic result,” says Per Lindahl, Chair of the Lantmännen Board.
Lantmännen reported a profit for the year 2021 of MSEK 2,202 after net financial items and adjusted for items affecting comparability, a significant improvement on the 2020 earnings of MSEK 2,041.
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“If you look historically at our results, we have increased profits every year for ten years in a row, except for the drought year of 2018. This is thanks to our business portfolio, its width means that the various businesses can compensate for fluctuations in earnings during difficult times. We have shown that as a group we can deliver results regardless of what happens in the world around us, which is very important, not least for our members – active Swedish farmers,” says Magnus Kagevik, Lantmännen CEO and Group President.
“In the more uncertain world we now live in, it is even more important that we continue to invest in the grain value chain. It is through investment and initiatives in research, development and innovation that we continue to secure a large part of the Swedish food supply and manage to achieve our high climate goals. We have a solid strategy that we intend to continue to execute and we are well-positioned in all our business. As such, we can also continue our efforts to develop Lantmännen into a world-class enterprise – and Swedish farming into one of the world’s best,” added Magnus Kagevik.