Cheese powder producer Lactosan increased its turnover by six per cent in 2025, but capacity expansion, rising raw material costs and unfavourable exchange rates weighed on the bottom line. For 2026, the company expects a further decline.
Lactosan, which produces cheese powder for the food industry and is based in Ringe on the island of Funen in Denmark, increased its turnover from DKK 786 million in 2024 to DKK 834 million in 2025 – a rise of six per cent and another year in a six-year upward revenue trend. Nevertheless, the year ended with a weaker bottom line than the previous year. Operating profit fell from DKK 183.7 million to DKK 152.7 million, and net profit declined by just over DKK 33 million to DKK 98.8 million.
“The expansion of production capacity and workforce, combined with rising raw material costs and unfavourable exchange rates, led to lower earnings in 2025 compared with 2024, despite the increase in turnover during the past year and follow-up on the development expectations from last year,” management writes in the financial report.
The company’s equity increased by just over DKK 8 million to DKK 553.6 million.
Lactosan is wholly owned by Thornico Food & Food Technology Group A/S, which forms part of the Thornico Group, owned by Christian Stadil. Thor Stadil chairs Lactosan’s board of directors.
Geopolitics weighs on the outlook
As one of the world’s leading cheese powder producers with customers across the globe, Lactosan is not unaffected by the current geopolitical and trade policy turbulence.
“Geopolitical tensions arising from import tariff disputes between the EU and China, and the continued uncertainty caused by the US administration, are a source of concern – encompassing both exchange rates and energy prices,” management writes in the report.
This is reflected in the company’s guidance for 2026, in which Lactosan expects turnover in the range of DKK 750–800 million and a net result at or below the 2025 level – in the range of DKK 80–100 million.
By Maja Løvstrup
Source: FødevareWatch
Photo: Lactosan
