VikingGenetics 2022 Annual Report Announcement

Increased demand for sexed semen

VikingGenetics’ 2022 annual report, released today, shows a net profit of EUR 363 thousand following a focus on recovery and consolidation, and investment in future-friendly technologies.

As a result of genomic selection and genetic progress, the need for large numbers of breeding bulls has decreased. Therefore, the company’s production facilities in Skara, Sweden, were closed last year.

“Consolidating production at a single high-tech facility allows us to better deliver world-class genetic progress. This will make VikingGenetics even more competitive and profitable, ensuring the future of Nordic cattle breeding,” says Louise Helmer, CEO of VikingGenetics.

The company’s functions in Sweden are now dedicated to providing breeding advice to Swedish farmers and closely collaborating with Växa – one of the owners of VikingGenetics – as well as having quarantine facilities for new VikingGenetics bulls.

At the same time, new breeding strategies from farmers have resulted in an increased demand for sexed semen. Primarily driven by this increased demand for sexed-sorted doses, VikingGenetics experienced a revenue increase from EUR 34.4 million to 34.7 million, continuing the growing trend from 2021.

Investing in future-friendly farming

The Board of Directors also further accelerated investment in additional Cattle Feed Intake System (CFIT) farm installations, with this strategy continuing in 2023. The patented, artificial intelligence-based, system will have collected feed efficiency registrations from 30,000 cows by 2025. This will benefit the farmers’ profitability through improved feed efficiency and reduce the environmental impact of cows.

Per-Johan Svensson, Chairman of the Board for VikingGenetics, highlights the benefits of this, saying: “VikingGenetics wants to maintain their position among the world leaders within selection for improved energy efficiency and reduced climate impact. Therefore, this is the right time to promote investment in the CFIT System and get more data from more cows. This will benefit all farmers using VikingGenetics and the planet.”

Continued focus on genetic progress

A focus on data will also continue to be key to the company’s competitive advantage and guarantee genetic progress. Nordic cattle breeding is world-renowned for its data-driven approach and unique focus on health traits, thanks to the large, highly reliable datasets informing the Nordic Total Merit (NTM) and Nordic Beef on Dairy (NBDI) indexes.

By continuing to focus on genetic progress, VikingGenetics strives to help farmers breed healthier, more profitable cows and strengthen collaboration with its owners – Växa, Faba, and VikingDanmark – in creating more value for Nordic farmers.

“Our passion for breeding is the backbone of VikingGenetics and its owners, it is what drives us and our international cooperations forward. Continuing to invest in tools that support genetic progress is an essential part of this,” ends Louise Helmer.