The year 2024 was marked by strong development and renewal for the Berner Group, despite a persistently challenging operating environment. Operating profit increased, and strategic investments in internationalization, artificial intelligence, and sustainability further strengthened competitiveness.
Operating profit increased, revenue decreased
“Berner Group’s operating profit increased to EUR 32.3 million (EUR 29.5 million in 2023), while revenue declined to EUR 654 million from EUR 705 million in the previous year.”
“We experienced, however, volume growth during the year, as the decrease in the price per ton of fertilizers, grain, and certain chemicals in the agriculture and industry business areas impacted the development of our net sales,” says Antti Korpiniemi, CEO of Berner Ltd.
Internationalization is a significant part of Berner Group’s strategy, with 36% of revenue now generated outside Finland. The Group’s solvency and liquidity strengthened in 2024, with an equity ratio of 47.6% (44.9%). Return on capital employed was 12.9% (12.4%).
“Over the year, we placed even greater focus on improving our competitiveness and launched the group-wide initiative YKK – Together Towards Profitable Growth,” Korpiniemi adds.
The strentght of four business areas
Consumer goods business area saw increased sales and maintained a strong market position. The Healthcare and Laboratory business area had a mixed year, with continued subdued demand in healthcare products in Finland. The business area crystallized its strategy, now centered on profitable growth and a Nordic approach.
Crop production in agriculture normalized after difficult harvest years, strengthening farmers’ financial positions and boosting investment. In contrast, the Industry business area faced economic slowdowns, strikes, and low market prices, which affected revenue development.
A pioneer in artificial intelligence
Berner Group has invested heavily in the use of artificial intelligence. Nearly 20 AI tools have been in use, every knowledge worker has had access to ChatGPT if desired, and 15 internal training modules have been provided. AI has been applied, for example, to support the collection and forecasting of raw material market data.
SBTi approval for emission reduction targets
The Group achieved a significant milestone in its climate and environmental work with the approval of its 2030 emission reduction targets by the Science Based Targets initiative. Berner Group commits to reducing absolute Scope 1 and 2 greenhouse gas emissions by 42% and value chain Scope 3 emissions by 51.6% per million EUR value added from the 2021 baseline. Our targets also include land-use-related Scope 3 FLAG emissions, which we commit to reducing by 30.3%.
Berner Ltd also achieved the highest Platinum level for the third time in the EcoVadis sustainability assessment, placing the company among the top 1% of all rated companies.
Further Information:
Antti Korpiniemi
CEO, Berner Ltd
Email: antti.korpiniemi@berner.fi
Phone: +358 50 123 4567