By Danish Genetics - Wednesday, 24 May 2023
The global market for pork has been particularly challenged in 2022, because of the war in Ukraine, rising production costs and falling slaughter quotations. The derivative effects of the war and the poor terms of trade have led to historic reductions in the sow population, not only in Denmark, but also internationally. Despite this recession, Danish Genetics managed to maintain sales globally and at the same time to come out with a positive bottom line, which, according to the company's director, is a satisfactory result, considering the situation.
Danish Pig Genetics' partners approved the annual accounts for 2022 yesterday, with earnings before interest, tax, depreciation and amortization (EBITDA) of DKK 7.8 million. and a profit before tax of DKK 1.8 million. DKK
"Despite the challenges, we have managed to deliver a satisfactory result in a difficult year. Although we aim for a larger profit, we valued the business of our partners and customers more highly and did not make any price increases on our genetic products. Therefore, we are satisfied to deliver a profit in a year when others in the industry have had red numbers on the bottom line," says the company's director Jan Gerber.
In 2023, the company will continue to invest massively in both ongoing and new genetic projects, as was also the case in 2022. According to the director, Danish Genetics is experiencing a large demand for their genetics with an increased focus on a balanced breeding program where sustainability goes hand in hand with both efficiency and robustness.
For further information:
Jan Gerber, CEO, Danish Pig Genetics P/S
Tel. 61 51 82 52