News year 2024
Here is a selection of what has been published in Lantmännen's newsroom during the year. Continuous collaborations – with academia, industry and the public sector, among others – characterized the entire year, not least at Borgeby Field Days and Almedalen. And as usual, the media was dominated by the harvest - important to all farmers and to Sweden in general.
Also this year, Lantmännen invested billions in projects in infrastructure and facilities – in order to be able to take even greater responsibility, from field to fork. 20 district meetings, with thousands of members, were held all over Sweden. And the members – active Swedish farmers – received a record dividend. During the year, Lantmännen also gained close to 2,000 new employees. Welcome, Scan Sweden.
In 2024, Lantmännen published close to 90 news stories about this and more. Below is a selection.
Financial results and dividends
Lantmännen's profit for 2023, after net financial items and adjusted for items affecting comparability, amounted to SEK 2,462 million – a slight decline compared to last year's record result of SEK 2,536 million.
"Despite an unsettled geopolitical situation and a weaker economy, Lantmännen delivered a strong result for the full year of 2023," said Magnus Kagevik, Group President and CEO, Lantmännen.
Annual result 2023 (8 February)
Lantmännen also decided on a record dividend of SEK 1.2 billion to its members.
Record dividend of SEK 1.2 billion to Lantmännen's members (7 May)
During the year, the first and second tertiary results were also announced.
Sustainability, health and well-being
Lantmännen works continuously with sustainability and health – below are some examples from 2024.
Lantmännen becomes first in the world to produce food in a large-scale, fossil-free value chain. The initiative covers grain production, transport and processing. The first products will include flour and oatmeal, under the AXA and Kungsörnen brands.
Lantmännen first in the world with large-scale fossil-free food production (24 June)
In collaboration with the University of Copenhagen, Lantmännen contributed to research that has shown the positive impact of whole grains on children's health.
Study shows health benefits of whole grains in children (August 15)
A growing population requires more food to be produced, while the impact of the food system on the climate must be reduced. This requires a transition to healthier eating habits. In collaboration with Lantmännen and Arla, Chalmers will now build competence to meet these challenges.
Lantmännen and Arla in collaboration with Chalmers – biotechnology for the sustainable food of the future (20 November)
Lantmännen published a report on the road to climate-neutral pig production. The goal is to reduce climate impact by 43 percent by 2030 and 56 percent by 2050, which will be achieved through improved feed, circular production, health and animal welfare.
Climate targets can be exceeded in Swedish pig production according to new report (6 December)
Studies have shown that whole grains reduce the risk of lifestyle diseases and promote stable blood sugar levels. Together with the initiative "Wholegrain Promotion", Lantmännen collaborates with academia, authorities and civil society to increase Swedes' whole grain intake.
Lantmännen continues and deepens its commitment to whole grain through the new initiative FullkornsFrämjandet and research collaborations (10 December)
Harvest and grain production
Despite the weak harvest in 2023, there were some positive signs in the spring of 2024. However, a cold and wet spring caused delays for the spring crops, which increased uncertainty about the total harvest for the year.
The journey to the important harvest of 2024 has begun with a cold spring (23 April)
Lantmännen described the 2024 harvest as the most important in a long time, where a good harvest would provide much-needed financial stability after two years of poor conditions and high costs for farmers. A successful harvest would also reduce the need for imports and strengthen Sweden's degree of self-sufficiency, which is crucial for the country's food security. The 2024 forecast showed more positive figures, but at the same time large regional variations, both in volume and quality.
Lantmännen's harvest forecast for 2024: 5.4 million tonnes of grain (4 July)
During the harvest summary in October, it was noted that the local variation has been extremely large, which means that the volume appears to be lower than forecasts made with very large regional variations. The changeable and extreme weather, with both floods and longer periods of drought, has had a negative impact on the Swedish harvest in many areas.
The harvest was challenged by the weather – with large regional variations (14 October)
Research and innovation
Innovation is a central part of Lantmännen's strategy for the agriculture of the future. The following are some highlights from 2024.
In May, Minister for Rural Affairs Peter Kullgren visited Lantmännen's farm of the future in Bjertorp. Here, Spendrups and Lantmännen presented different ways to develop Swedish food production and drive a sustainable transition and long-term profitability.
Minister for Rural Affairs in meeting with Lantmännen and Spendrups (17 May)
Together with Arla, Lantmännen is driving the development of the future of milk production at Framtidsgården Viken. Here, fossil-free inputs, carbon sequestration and advanced feed development are tested to reduce climate impact.
New collaboration on Framtidsgården Viken will pave the way for the agriculture of the future (25 June)
Lantmännen is an active partner in two new research projects funded by Formas:
The first, AgroDrive at RISE, has the goal of making agriculture and the food chain fossil-free by 2050. The second project, FORCE at Lund University, focuses on circular economy models and resilience in the food system to meet future threats.
Lantmännen participates in new centre initiatives for increased preparedness and competitiveness in the food system (4 December)
Preparedness and food strategy
Lantmännen highlights Sweden's lack of preparedness as a central problem and presents solutions to strengthen food security and profitability in the food sector.
In March 2024, Lantmännen met with the Prime Minister and Minister for Rural Affairs and discussed the Swedish food strategy and increased profitability for agriculture.
Lantmännen in meetings with the Prime Minister and the Minister for Rural Affairs (14 March)
Only 50 percent of Sweden's food is produced domestically, which makes Sweden vulnerable in crisis situations. In comparison, Finland has a self-sufficiency rate of 80 per cent and Denmark 150 per cent. In September, Lantmännen presented a survey, conducted by Novus, in which six out of ten were found to be worried about Sweden's food supply during crises. Lantmännen emphasizes the importance of Swedish-produced and farmer-owned products as an important step in strengthening food preparedness.
Swedes are worried about food shortages in crisis according to new survey (September 24)
Climate, preparedness and profitability in the food sector were common themes in several opinion-forming initiatives from Lantmännen during the year. Among other things, below.
The year was only a few months old when Lantmännen, together with LRF, Arla and the Swedish Rural Economy Society, wrote a joint debate article.
"Swedish food is needed for better preparedness" (1 February, Svenska Dagbladet, only in Swedish)
Lantmännen was represented in Almedalen as usual. In addition to agriculture, food and energy issues in various panels, the company discussed food preparedness, climate change and increased food production together with Arla.
Lantmännen in Almedalen 2024 (only in Swedish, 25 June, only in Swedish)
In connection to Almedalen, Lantmännen and Arla wrote a joint debate article on preparedness. "If we compare with another socially critical activity, the military defense, its appropriations have doubled since 2020. This is entirely reasonable, but it is equally reasonable for food preparedness to follow the same willingness to invest. It is difficult to defend the country hungry."
"Politics lacks a strategy for food preparedness and green transition" (21 June, Dagens Industri, only in Swedish)
The climate idea was taken further with a debate article in which Lantmännen argued that immediate measures are needed to meet the climate changes that affect agriculture. Major investments are required.
"We can't count on luck with the weather" (5 August, Svenska Dagbladet, only in Swedish)
Lantmännen, Scan, Arla and LRF wrote about how a strong total defence requires a functioning food preparedness in Dagens industri in October.
"Ensure Sweden's food production" (15 October, Dagens Industri, only in Swedish)
Acquisitions and collaborations
Lantmännen has completed strategic acquisitions and initiatives that strengthen its position in agriculture, food and bioenergy in 2024.
In March, Lantmännen completed the acquisition of Scan Sweden, which marks an important step in strengthening the value chain in Swedish meat production. The acquisition enables the integration of the production, processing and distribution of animal products, improving efficiency and enabling more sustainable operations.
Lantmännen's acquisition of HKScan's Swedish operations has been completed (27 March)
In late autumn, the formation of Lantmännen Biogas AB was announced. The company will have a leading role in the biogas market with a great growth potential, especially through the use of agricultural residues and manure to produce fossil-free energy.
Lantmännen forms Lantmännen Biogas AB – sees growth potential in biogas (7 October)
Lantmännen entered a long-term collaboration with Ingredion, a leading and global supplier of ingredient solutions for food. The collaboration meets the European market's need for high-quality pea protein isolates, and is made possible through Lantmännen's investment of SEK 1.2 billion in the protein factory in Lidköping.
Ingredion and Lantmännen form a strategic partnership to accelerate the development of plant-based proteins (15 November)
Lantmännen also communicated several initiatives in the real estate sector, not least at the end of the year.
Lantmännen Fastigheter and ED Gruppen are investing in the development of the inner harbour area in Norrköping, with the aim of creating modern residential and commercial spaces.
Lantmännen Fastigheter and ED Gruppen form Lantstaden AB – lead property development in Norrköping's inner harbour (2 December)
The acquisition of nine community service properties on Gotland strengthens the focus on nursing homes and care facilities. The transaction is part of a broader strategy to develop community service properties in strategic locations in Sweden.
Lanthem, with Lantmännen and Hemsö, acquires properties on Gotland (17 December)
Investments
Lantmännen continues to make strategic investments in infrastructure, innovation and sustainability, with several projects that are crucial to strengthen Lantmännen Group's competitiveness, support farmers and meet the challenges of the future.
In February, Lantmännen, together with Fertiberia and Nordion Energi, announced the largest investment of its kind in the Nordic region – Sweden's first fossil-free mineral fertilizer production. The joint initiative "Power2Earth" entails a total investment of over SEK 20 billion.
Fertiberia, Lantmännen and Nordion Energi invest in developing Sweden's first fossil-free mineral fertilizer factory (19 February)
At the end of February, Lantmännen announced a major investment of SEK 500 million in a new grain plant in Uddevalla.
"Lantmännen's expertise and financial capacity enable this type of significant investment for Swedish agriculture and food production," said Magnus Kagevik, Group President and CEO of Lantmännen.
Lantmännen invests half a billion SEK in grain facility (1 March)
A similar investment of SEK 100 million was also made in Norrköping.
Lantmännen continues to invest in Sweden's grain infrastructure (10 April)
At the beginning of September, the first sod was cut for a new protein plant in Lidköping. This was done by, among others, Minister for Rural Affairs Peter Kullgren and Lantmännen's Group President and CEO Magnus Kagevik. The investment is estimated to be SEK 1.2 billion and enables the development and production of plant-based proteins for both the Swedish and international markets.
Lantmännen invests SEK 1.2 billion in protein plant – unique major investment in Swedish food production (3 September)
Through the formation of Lantmännen Biogas AB, the Lantmännen Group is investing in increased biogas production in Sweden. The project includes the production of biogas from agricultural side streams and fossil-free energy for agriculture.
Lantmännen forms Lantmännen Biogas AB – sees growth potential in biogas (7 October)
Mentions
To drive and lead the societal discussion on, among other things, sustainability, preparedness, innovation and agricultural development, Lantmännen invests both time and effort in expertise and communication. As a result of this work, Lantmännen received several positive mentions during the year, including the following.
Lantmännen's Patrik Myrelid was named Agronomist of the Year, and Victoria Edwards Done was given a place in the top list for future female leaders. Lantmännen also came out on top when it ranked communication and brand – it is today considered one of Sweden's most meaningful and sustainable companies and was once again seen as attractive to current and future employees. The latter resulted in an Employer branding award.
About Lantmännen
Lantmännen is an agricultural cooperative and Northern Europe’s leader in agriculture, machinery, bioenergy and food products. Owned by 18,000 Swedish farmers, we have 12,000 employees, operations in over 20 countries and an annual turnover of approximately SEK 70 billion. With grain at the heart of our operations, we refine arable land resources to make farming thrive. Some of our best-known food brands are AXA, Kungsörnen, Scan, GoGreen, FINN CRISP, Schulstad and Vaasan. Our company is founded on the knowledge and values acquired through generations of farmers. With research, development and operations throughout the value chain, together we take responsibility from field to fork. For more information: www.lantmannen.com
