Record profit for ESS-FOOD trading company
When there is turmoil in the world, trade across countries and continents becomes more complicated. ESS-FOOD felt this in the past year, when the company had to navigate a minefield of challenges, to put it mildly.
"In many ways it has been an incredibly difficult year, so we are therefore very satisfied with the result. The year began with COVID-19 and logistical challenges, then the war in Ukraine and inflation hit, and in parallel, African swine fever and bird flu have continued to affect several of our markets. The employees have handled that task in an exemplary manner, and this bodes well for the future," says Morten Holm, CEO of ESS-FOOD.
Approximately 60 percent of ESS-FOOD's business consists of trade in pork, while 40 percent comes from the purchase and sale of other product groups.
Despite rising raw material prices, turnover in ESS-FOOD rose from DKK 4.5 to DKK 5.3 billion corresponding to an increase of 17 percent. Operating earnings fell by two million due to rising costs, but at the same time the subsidiaries contributed positively, so ESS-FOOD landed a record result of DKK 41.9 million.
"Seen in the light of the worldwide crisis, which means that some food now finds other ways around the world market, it has been a really good year. In short, we have succeeded in earning a little more from the deals we do, and this is completely in line with our strategy to focus the business," says Morten Holm.
To ensure the company's continued development, ESS-FOOD works purposefully to ensure the training of the next generation of employees. During recent years, a structured trainee program has therefore been built up.
"Trading is in many ways a craft, and therefore it is important that we constantly get ambitious young people into our company who we can train. It is fantastic to see how they are constantly growing, when a few years ago I was a little worried about whether we could find qualified labour, we are now in a really good place," says Morten Holm.
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