Geia Food increases revenue in 2021
Geia Foods’ group turnover for 2021 is reaching DKK 2.4 billion in a year characterized by an acquisition in Norway and continued tailwinds in the retail market in the first part of the year.
In 2021, Geia Food A/S recorded a profit after tax of DKK 62.0 million, which is an increase of DKK 13.1 million compared to 2020. The total group turnover hit DKK 2,461 billion, an increase of DKK 482 million compared to the previous year and a growth of 24%.
“Our Scandinavian activities have increased during the year and especially the acquisition of ØFAS in Norway in February 2021 has increased our revenue in the Norwegian market. A continued positive development in the Danish market combined with an even stronger revenue development in Norway in particular, is completely in line with our ambitions to create the leading Food Concept Provider in the Nordic markets”, Claus Ravnsbo says.
In Denmark, in the first half of 2022, Geia Food made 2 acquisitions of Food Partners World and Lauge Food Selection, respectively, and has thus strengthened its position within new product categories and sales channels.
Despite difficult market conditions, Claus Ravnsbo is positive about the future. “Like all other players in the industry, we are affected by a historically volatile market with sharply rising input prices, which naturally affects our business. Despite all the challenges, Geia is well positioned, with our mission to deliver quality products at competitive prices, which is exactly where consumers are moving at the moment”, concludes Ravnsbo.
For further information, please contact:
Claus Ravnsbo, Group CEO, Geia Food, tel. +45 29 99 18 21
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