VikingGenetics’ 2022 annual report, released today, shows a net profit of EUR 363 thousand following a focus on recovery and consolidation, and investment in future-friendly technologies.
As a result of genomic selection and genetic progress, the need for large numbers of breeding bulls has decreased. Therefore, the company’s production facilities in Skara, Sweden, were closed last year.
“Consolidating production at a single high-tech facility allows us to better deliver world-class genetic progress. This will make VikingGenetics even more competitive and profitable, ensuring the future of Nordic cattle breeding,” says Louise Helmer, CEO of VikingGenetics.
The company’s functions in Sweden are now dedicated to providing breeding advice to Swedish farmers and closely collaborating with Växa – one of the owners of VikingGenetics – as well as having quarantine facilities for new VikingGenetics bulls.
At the same time, new breeding strategies from farmers have resulted in an increased demand for sexed semen. Primarily driven by this increased demand for sexed-sorted doses, VikingGenetics experienced a revenue increase from EUR 34.4 million to 34.7 million, continuing the growing trend from 2021.