Skov A/S. Glyngøre

Beskrivelse af virksomhedens væsentligste aktiviteter

Primary activities
The activities of SKOV is to develop, produce, install and service climate solutions, farm management and digital services for animal production worldwide.

Beskrivelse af udviklingen i virksomhedens aktiviteter og økonomiske forhold

Development in activities and financial affairs
The result for the year 2023/24 shows a profit after tax of TDKK 163,206, against TDKK 127,077 for the fiscal year 2022/23. SKOV has an equity of TDKK 693,545 and a total balance of TDKK 927,207.
SKOV has in 2023/24 continued to develop the global sales organization through recruitment of additional sales managers, new dealers, and new installation/service partners. To increase the competence in the global sales organization, SKOV Academy has headed many training activities towards sales managers, dealers, and service partners.
In 2023/24, SKOV has continued developing solutions for industrial insect production, specifically focusing on the black soldier fly. To further enable SKOV to offer total solutions for the insect business, SKOV acquired the business unit XIO that was a part of Sealing System A/S. XIO is a specialist in automation and logistic solutions for insect production, and its activities will be performed in the legal entity XIO A/S which was incorporated in September 2024.
As in previous years, SKOV has incurred significant expenses on product and system development in 2023/24 to maintain its leading position in the market. The development of new mechanical products as well as digital services to customers are a significant part of the activities.

Omtale af betydningsfulde hændelser, som er indtruffet efter regnskabsårets afslutning

Subsequent events
No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date.

Beskrivelse af virksomhedens forventede udvikling

Outlook
The overall global market outlook for SKOV’s solutions in 2024/25 is expected to be positive. However, certain regions and countries may face challenges, primarily due to political instability, global changes in business dynamics, price challenges on meat and/or feed, and outbreak of animal diseases.
The business model of SKOV and the financial performance can handle such challenges.
The expected revenue is in the range of DKK 1,075-1,150 million. The expectation to profit before tax is in the range of DKK 170-190 million.
SKOV will also in 2024/25 continue to invest in the future growth of SKOV. Market presence will increase in different growing markets; new products will be introduced and SKOV will continue to invest in the digitalization and robotization of production and administrative processes. Activities that strengthen future earnings, capacity and competitiveness.
The capital preparedness of SKOV is considered sufficient for covering the financing of the activities in the coming year.
Strategy
The food industry is consolidating, and many customers are becoming bigger and more regional/global. Because of this, the market is also requesting more professional climate and production solutions as well as new digital services. This is in line with the SKOV offerings. Despite a trend in increasing plant-based food alternatives, the consumption of animal-based proteins as broiler meat, pork, and egg is globally still expected to increase. Further, by supplying solutions to the new insect business industry, SKOV enters an interesting sustainable feed industry that is expected to grow in the coming years. Therefore, the global market for SKOV offerings is expected to expand.
SKOV's strategy is to be prepared for this growth and to increase its market share. To stay the preferred partner for our customers, SKOV will continue to invest in a strong R&D organization that develops new solutions, a strong market presence and an efficient organization that delivers quality to customers. The objective of SKOV is to have strong profitable organic growth.