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Our journey into a versatile food company continues

In line with our strategy, we are growing into a versatile food company. Prior to our more comprehensive strategy implementation and a significant food company transformation, our priority is to strengthen our financial base.

Changes in consumer behaviour emphasise the need for renewal in line with the strategy on our journey to a versatile food company. Renewing ways and channels of food production and supply, combined with rapidly advancing digitalisation, strengthen the need to renew our operations. With changing consumer behaviour, commercial concepts serving customers and consumers and the digital solutions supporting these concepts play a key role in the implementation of HKScan’s strategy. New commercial concepts will utilise everything from the company’s traditional strengths to the latest digital solutions.

HKScan also continues its strategic assessment related to the company structure and reviews the positioning of different market areas as part of the Group’s operations.

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Strategic stages

We are on a transformation journey towards a versatile food company. Following the completion of our Turnaround programme, we will enter a phase in which we will improve profitability in our core business and create a basis for a successful food company transformation.

In 2022, we will be determinedly working on commercial activities that will increase net sales and profitability, such as sales pricing. Equally important is an improvement of production efficiency and managing cost levels, as exceptionally strong cost inflation continues to challenge our operations.

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Turnaround 2019 - 2021

The three-year Turnaround programme ended at the end of 2021. During 2019-2021, the company rose from a deep financial crisis to a situation where our financial base is significantly more stable. Our work to improve the profitability of our core businesses and further strengthen our balance sheet continues.

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Long-term financial targets