Record turnover and strong profits in an extraordinary year
2020 was an utterly extraordinary year for the Danish Agro group where we had to handle large external crises. The corona pandemic hit us in March, and only just a month later, large parts of our IT environment was shut down as a result of a hacker attack.
In 2020, both events contributed to uncertainty, complicated business procedures and not least did they make great demands on all employees of the Danish Agro group. Therefore, it is really impressive that despite the extraordinary challenges we have succeeded in realising a profit before tax of EUR 66 million, which is an improvement of EUR 12 million as compared with 2019. The satisfactory result has been delivered based on record turnover of EUR 5,295 million, which is an improvement of 11.7% compared to the year before.
Due to the corona pandemic and the hacker attack, there was much focus in 2020 on securing continued operations. The supply of goods and services to the farmers had to be guaranteed, but at the same time we succeeded in developing our business and increasing trade with even more farmers.
In 2020, a range of major structural goals were met, which will have great significance for the further development of the group.
In February, we concluded an agreement with Vestjylland Andel on the purchase of the remaining 22.3% shares in Hedegaard. This has meant that we can structure and implement synergies in a completely different way than before – work that is well underway.