2019 was in many ways a really good year for the Danish Agro group. In the light of last year's challenging harvest, it was very positive that the 2019 harvest was generally good in our core markets.
Farmers have been able to deliver crops that had an average yield of a little above average, and of fine quality. This provides new commercial opportunities for the group.
It was also positive that more and more farmers want to trade with Danish Agro, which has resulted in the biggest turnover in the group's history of over EUR 4.7 billion, corresponding to a growth of 7% relative to 2018. At the same time, 2019 was also a very challenging year.
The drought, which hit hard across our core markets in 2018, has had a greater than expected impact in 2019. In addition, the group's net income was negatively affected by non-recurring costs in an associated company. This is, of course, reflected in our key performance indicators, where we realise a profit before tax of EUR 54 million.
Across the page you'll find the 2019 annual report. Below you can read our previous annual reports: