Company boosts turnover by DKK 200 million, but management calls the results disappointing

Martin Aagaard Pedersen, CEO of Nordex Holding, told the online media outlet Fødevarewatch that despite increasing revenue by DKK 200 million and reaching a total turnover of DKK 3.1 billion in 2024, management is not satisfied with the year’s performance.

• We’ve faced challenges with our volume, particularly in the Middle East, where the second half of the year was especially difficult, says Martin Aagaard Pedersen.

In terms of net profit, the company saw a decline of more than DKK 35 million despite the growth in revenue. The bottom line fell from a profit of DKK 27.6 million in 2023 to a loss of DKK 7.8 million in 2024.

Going forward, Nordex will focus more on markets closer to home—especially Germany, the broader EU, and the UK.

• We’re turning more toward Europe because we already have a strong presence here, which gives us many opportunities, he says.

At the same time, there is uncertainty in other markets—uncertainty that may persist for some time, according to Martin Aagaard Pedersen.

• There could be a prolonged drop in volume in some markets. It’s hard to predict, as it depends both on the economic conditions in those countries and on the development of milk prices,” he says.

You can read the full article here.