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
