Results significantly impacted by weather
This release contains inside information related to Gjensidige Forsikring ASA pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. Gjensidige generated a profit after tax of NOK 821 million in the first quarter. The insurance service result was negatively impacted by weather-related claims and provisions. The result improved when adjusting for these items, due to continued strong momentum in revenue growth and efficient operations. Highlights first quarter 2024 (first quarter 2023) ·
The operating environment in 2023 was once again challenging for Valio and the entire food industry. The war in Ukraine and general economic uncertainty continued. Weakening consumer purchasing power and the drastic decline in the global market prices of industrial dairy products together with cost inflation, reflected on Valio’s result. Farms also continued to face a tight economic situation: costs were around 30 per cent higher at the end of 2023 compared to the beginning of 2021, although the rise in costs did ease during the year. In the challenging operating environment, Valio continued
