Main objectives 2022
The Danish Agro group is financially strong at the start of 2022. Our focus will also be on the coming year to remain a competitive partner for the farmers with whom we work while being aware of a number of commercial challenges. In 2022, improving our financial ratios will be a major focus so that our starting point for further business development is the strongest possible. We need to meet the wishes and needs of the modern farmer while ensuring the balance between financial robustness and future business potential.
The commercial challenges were greater than usual in 2021, which is also expected to be true in 2022. As an example, we have experienced extraordinary volatile markets as well as increasing freight rates and energy costs, and the security of supply is continually challenged.
These factors are taken into account in the financial targets of the Danish Agro group for 2022. Therefore, we are budgeting with a group profit before tax, EBT, of EUR 67 million, which is lower than that realised in 2021, which is due to the unpredictable market conditions.
In 2021, we experienced a good level of activity, which has also resulted in increased market shares in a number of products. We expect this development to continue in 2022, and we see turnover for the year of around EUR 5.6 billion.
We also expect to increase the financial solidity to around 32%, which ensures a balance that allows for both the development of the business and the remuneration of our owners through profit declaration.