However, more expensive food and raw material prices meant that Arla increased its turnover last year. Turnover at group level increased by 23.2 percent to 13.8 billion euros compared to 11.2 billion euros in 2021.
“2022 was dominated by inflation and uncertainty for both our owners and the company. Despite this challenging environment, we delivered good results,” says Arla’s chairman Jan Toft Nørgaard in a press release.
For the Swedish part of Arla, turnover in 2022 increased by 11.4 percent to 1.6 billion euros compared to 1.4 billion euros in 2021.
“In the second half of 2022, both households and companies reacted increasingly strongly to rising inflation. Sales volumes decreased and Arla’s sales of products under strategic brands decreased by a total of 3.9 percent during the year,” says Arla Sweden’s CEO Kai Gyllström in the press release.