Lantmännen (LM) Tertial 3 2024 summary

Executive summary

• Achieved record financial results and operating income of SEK 2.9 billion for 2024, reflecting a strong business portfolio and robust strategy.

• Net sales increased 4.2% year-over-year to SEK 68 billion, driven by acquisitions, notably Scan Sweden.

• Proposed the second highest dividend in company history, totaling SEK 1,125 million.

• Continued significant investments in strategic areas, including infrastructure, production, and new facilities for plant-based protein and bakery expansion.

• Advanced sustainability initiatives, achieving a 44% reduction in CO₂e emissions since 2019 and introducing new biodiversity criteria.

Financial highlights

• Net sales reached SEK 68 billion, up 4.2% year-over-year, driven by acquisitions.

• Adjusted operating income hit an all-time high at SEK 2,868 million.

• Net income was SEK 2,062 million, up from SEK 1,560 million.

• Equity ratio stood at 46.9%, above the 40% target.

• Net debt/EBITDA was 1.9, well below the target of <3.

Outlook and guidance

• Ongoing global uncertainties and geopolitical instability noted, but strong growth opportunities expected across most business areas.

• Continued high investment pace planned for 2024 and coming years, with a focus on strategic investments and sustainability.

• Board proposes a total dividend of SEK 1,125 million, the second-highest ever.