COPENHAGEN (Reuters) – Farmers’ cooperative Arla Foods, one of the world’s biggest dairy firms, on Tuesday reported flat 2023 sales as consumers opted for discounted products but said it expects positive momentum in the second half of the year to continue in 2024.
“We have navigated a deflated and volatile global dairy market as well as headwind from several currencies,” CEO Peder Tuborgh said in a statement.
“While we anticipate continued volatility on multiple levels, our strong performance in the second half of 2023 makes us face 2024 with great confidence,” he said.
Owned by more than 8,000 dairy farmers in Denmark, Sweden, Britain, Germany, Belgium, Luxemburg and the Netherlands, Arla said revenue stood at 13.7 billion euro ($14.75 billion) in 2023 compared with 13.8 billion euros in 2022.
($1 = 0.9285 euros)
(Reporting by Isabelle Yr Carlsson, editing by Terje Solsvik)
