Higher Result For Lantmännen In The Second Four-month Period

06 October 2025, Sweden: Lantmännen’s operating income for the second four-month period, adjusted for items affecting comparability, amounted to 995 MSEK, which is slightly better than last year’s result of 938 MSEK for the same period. The result was mainly driven by a large Swedish harvest, effects of the ongoing savings program, and results from acquired and divested operations.

In June, Lantmännen signed an agreement to divest Swecon to Volvo Construction Equipment. The transaction is pending approval from the relevant authorities. In accordance with IFRS 5, Lantmännen classifies the Division as a discontinued operation as of July 2025. Amounts and key figures presented here refer to Lantmännen’s continuing operations, excluding the Swecon Division.

Operating income was affected by restructuring costs of some 340 MSEK related to the ongoing savings program, which means that non-adjusted operating income amounted to 655 MSEK (1 008). Adjusted operating income for the year’s first eight months amounted to 1 358 MSEK (1 535).

“This year’s harvest is larger than average, and the large harvest volumes have enabled better capacity utilization within the Agriculture Division, which has improved the Division’s result following two challenging harvest years. It is also gratifying that Scan Sverige continues to develop positively. At the same time, we are facing challenges in primarily the ethanol market, where profitability is generally weak,” says Magnus Kagevik, Lantmännen’s CEO and Group President.

Figures below refer to operating income for the second four-month period. The previous year’s results are in parentheses.

The Agriculture Division’s result amounted to 391 MSEK (220). The higher result was driven by a significantly better result in the Swedish grain business, mainly due to better capacity utilization connected to this year’s large harvest. The results of the Swedish agricultural operations ultimately go back to the members in the form of dividend, which is one of the strengths of a cooperative in a time where profitability remains challenging for many farmers.

The Energy Division delivered a result of 53 MSEK (221). Lantmännen Biorefineries’ result in the four-month period was heavily negatively impacted by unfavorable relationship between raw material and selling prices. Profitability in the ethanol market is generally challenging, and the industry is experiencing profitability issues.

The Food Division’s result amounted to 519 MSEK (500). Lantmännen Cerealia’s result decreased compared to the previous year, due to lower sales volumes. Lantmännen Unibake delivered a slightly higher result than the previous year, largely thanks to savings and efficiency-improving measures. Scan Sverige continues to develop positively, and increased both its results and market shares during the four-month period.

The Real Estate Division’s result amounted to 120 MSEK (96). The higher result is primarily due to improvements in the leasing business, and a higher share of income from joint ventures.

The Swecon Division delivered a result of 271 MSEK (175), an increase that is mainly explained by effects from changed accounting principles and the fact that depreciation of property, plant and equipment have ceased due to the ongoing divestment. Adjusted for this, the result amounted to 160 MSEK.

“We are facing increasing uncertainty in the world around us – geopolitically, financially, and in terms of national security. In the current situation, Lantmännen continues to adapt its operations to create value both in the long and short term for our owners, active Swedish farmers. As one of Sweden’s largest food producers, we are also investing in increased growth and stronger Swedish food production. Some examples are the establishment of a new production facility for vegetable proteins in Lidköping, the extension of the bakery in Örebro – and the new grain facility in Uddevalla,” says Magnus Kagevik.

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