Norrmejerier reports record results and Increased milk price

Norrmejerier has achieved a record-breaking result for 2024, reporting a profit of over 40 million SEK and a 22% increase in milk prices.

The result marks more than double the previous year’s results, demonstrating the effectiveness of the company’s strategic initiatives in brand development, raw material optimization, and operational efficiency.

Despite a challenging market environment, Norrmejerier has significantly strengthened its financial performance while increasing milk prices by more than 22%, directly benefiting dairy farmers. The company also recorded total revenues of approximately 2.2 billion SEK.

We are very pleased to have both increased the milk price by 22% and achieved a record result of over 40 million SEK this year. Our owners have faced major profitability challenges due to soaring costs in recent years, making this price increase especially important, says Gerhard Bley, CEO of Norrmejerier.
This strong performance is a direct result of the strategic platform we introduced just over two years ago. Our plans for the coming years indicate continued profitability growth, further strengthening our owners’ financial position. In 2025, we have already raised the milk price by 30 öre and anticipate further increases throughout the year, Bley continues.

Thanks to these strong results, the board has decided to distribute profits to owners through a capital contribution issuance and interest on invested capital, amounting to 15 öre per kilogram of milk.

This is an important step toward improving profitability for our owners, but we recognize that more needs to be done to ensure the long-term sustainability of dairy farms in northern Sweden, says Göran Olofsson, Chairman of Norrmejerier.

Norrmejerier 2024 Financial Overview

(Figures in parentheses refer to 2023)

Profit after financial items: +40 million SEK (+15 million SEK)
Revenue: 2,232.8 million SEK (2,246 million SEK)
Actual compensation for raw milk, including profit sharing: 4.60 SEK/kg (4.76 SEK/kg)
Total milk intake: 194 million kg (196 million kg)
Number of active dairy farmers (December 2024): 259 (275)

Read the full press release HERE

Photo: Norrmejerier