LATEST NEWS
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Why the Nakskov sugar factory was the one to lose out
Nordic Sugar’s decision to end production in Nakskov must be seen in a wider European context, where falling prices and overcapacity are pushing producers to close plants and concentrate production at fewer sites.
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Major European charging operator buys site in Nørre Alslev
Milence, which is developing charging hubs for electric trucks across Europe, has bought a municipal site in Nørre Alslev. It is not yet clear what the company plans to use the land for.
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Customers flock in – but growth weighs on the bank’s operating performance
Lending and customer numbers are rising sharply at Møns Bank, which is also feeling the impact of lower interest rates and higher costs linked to its growth strategy.
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Venture capital is largely bypassing Lolland-Falster
Denmark is one of Europe’s strongest venture capital markets, but in Lolland-Falster, investments are almost nowhere to be seen.
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Business doubles in size: Now the company must keep up
After 18 months in a dedicated growth programme, BAYO.S expects to double its business again next year. The biggest challenge may be having enough capacity to meet demand.
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Minister criticises gas pipeline: Nordic Sugar stands firm
Climate Minister Samira Nawa is using the closure in Nakskov as an argument against gas infrastructure. Nordic Sugar, however, maintains that the pipeline remains crucial to sugar production in Denmark.
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Andreas Wenzel: Fehmarn could place Lolland-Falster on a new growth axis
Lolland-Falster could find itself in a very different position between Copenhagen and Hamburg once the Fehmarn link opens, according to the CEO of the German-Danish Chamber of Commerce.
The seed producer Vikima Seed A/S has experienced a significant decline in results in the latest financial year compared to the previous year. The result before tax amounts to 11.1 million kroner in 2023/2024, which is a substantial drop from 33.7 million kroner in 2022/2023. The annual result follows the same trend and ends at 8.4 million kroner, where it was 26.2 million kroner the year before.
Vikima Seed is among the world's leading companies in seed production. So when farmers around the world plant spinach in the ground, there is a high probability that the seeds come from a field on the South Sea Islands. From there, the seeds go to Vikima Seed outside Holeby, which sends vegetable and flower seeds to the world market.
It has been a really good business, but this year's financial statement is not as pretty as it usually is. The harvest in 2023, which the financial year covers, was really poor. And therefore, only about 40 percent of what is normally harvested under ideal conditions was harvested. A dry spring and a wet summer do not make for a good harvest.
- It is a result that pales in comparison to previous years. But at the same time, it is a result that I am incredibly proud of. In fact, more proud than in the years when we made a lot of money, says director Kim Nielsen.
- A surplus of over 8 million is really good considering the circumstances. There was a time when I feared we would break even.
Even though there was less to do due to the poor harvest, Kim Nielsen and the rest of the management decided to keep everyone on board.
- We knew that if we started sending people home, we would miss them when things got better again, says Kim Nielsen.
And the harvest in 2024 was much better, and it gives a solid belief in the future.
Despite the setback, the Holeby company maintains a solid financial position. Equity has increased to 255.3 million kroner compared to 246.9 million kroner the year before. The management highlights in the financial statement that the company remains strong and that there is room to carry out long-term investments and strategic initiatives.
Key Figures 2023/2024 2022/2023
Gross Profit 18.9 million DKK 43.9 million DKK
Profit Before Tax 11.1 million DKK 33.7 million DKK
Net Profit 8.4 million DKK 26.2 million DKK
Equity 255.3 million DKK 246.9 million DKK
