Surge in Sales of Branded Products Reported by Danish Crown Beef

Danes have shown a willingness to pay a premium for superior quality beef patties in their burgers. Danish Crown Beef's BOOST range has seen a significant increase in sales, more than doubling in the past year, making it the best performer. Products under the Danish Crown brand also set a new record with a 35% increase in total sales. This growth is crucial in matching the settlement prices in neighboring countries. The average settlement price was raised by just over 2% to DKK 31.17 per kilo in the 2022/23 fiscal year by Danish Crown Beef. Finn Klostermann, CEO of Danish Crown Beef, expressed his delight at the positive reception of their products by consumers. He stated that this growth, despite the frequent calls to reduce beef consumption, proves that consumers still enjoy their products. He further added that their strategy of adding value to their Danish raw materials is successful and they plan to continue this trend through continuous investments in marketing and product development. Their main goal is to simplify the process of choosing and preparing Danish beef and veal for consumers. Danish Crown Beef reported a revenue of DKK 6 billion, consistent with the previous year. Klostermann acknowledged the challenges faced due to poor weather in northern Europe during the summer but commended the employees for their dedication and flexibility in achieving the set goals. However, Klostermann also noted that beef sales are influenced by economic trends, and inflation had a negative impact on the market for large steaks and roasts in Denmark and Germany. Despite this, their export markets, especially in southern Europe, remained strong, resulting in balanced sales. The record-high settlement price and relatively stable quotations were crucial for the cooperative owners of Danish Crown Beef in a year of high costs. Karsten Willumsen emphasized the importance of investing in sustainability and innovation to offer a settlement price that supports a stable business in the value chain. In the 2022/23 fiscal year, Danish Crown Beef processed about 3,000 more animals for slaughter and welcomed 300 new cooperative owners. Willumsen viewed this as a sign of trust in their jointly controlled company. The operations at the two German abattoirs and at Scan-Hide, a leading European hides producer, as well as the investment in NordicSPOOR, a seller of high-quality leather to top manufacturers of luxury products and furniture, are progressing as planned. Investments were made particularly in the latter, and the cooperative owners are expected to see the results in the coming years.