DLF Beet Seed ApS has experienced a sharp decline in revenue, falling to DKK 434.8 million for the 2023/2024 financial year, compared to DKK 533.0 million the previous year. This significant drop resulted in a deficit of DKK 36.3 million after tax, a stark contrast to the profit of DKK 48.2 million recorded in 2022/2023.
The company primarily produces and sells sugar beet and fodder beet seeds for agricultural use. It is part of the DLF Seeds group, the world’s largest producer of grass seeds. DLF Seeds offers a wide portfolio of seeds for agriculture, golf courses, sports fields, and private gardens, including grass seeds, clover seeds, and other seed types for soil improvement and feed production.
The management attributes the lower revenue to the war in Ukraine, which has disrupted exports, as well as shifts in shipment schedules from June to July 2024. These unforeseen challenges have had a substantial negative impact on the year’s results, which fell short of expectations.
In September 2024, the parent company, DLF Seeds A/S, signed a joint venture agreement with Groupe Florimond Desprez. This agreement will integrate DLF Beet Seed ApS into the new joint venture United Beet Seed.
The management anticipates a stabilization in the coming financial year, with revenue expected to remain at the 2023/2024 level but with improved profitability, estimated between DKK 10 and 20 million after tax.
