Dava Foods gets set for the future with profit rise in 2023
Adm. director Ivan Noes is proud of the result in 2023 and looks forward to an exciting 2024.
Dava Foods Denmark, which produces and sells fresh eggs and pasteurised egg products for retail and foodservice, will come out of 2023 with a solid result of DKK 24.6 million DKK (€3.98m) against 16.0 million DKK (€2.1m) in 2022.
The company’s solid result was due, among other things, to high spot market prices on the world market in 2023 due to an undersupply of eggs, which was caused by massive outbreaks of bird flu in Europe and the USA. The undersupply affected international pricing, which both the company and the Danish egg industry benefited from.
In addition to the business cycle, which positively affected the Danish egg industry, increased market growth was experienced, which is expected to continue into 2024. Therefore, the company invested in more robots for automation and efficiency for the company’s production facilities in order to increase the company’s capacity and be ready for the future.
Adm. director Ivan Noes explains: “We have increased our capacity at our packaging plant, so that we follow the market growth that is in the market. That is why we now have a capacity at our egg packing, palletising and robotic plant that is actually far greater than what we are currently selling – in order to be future-proof.”
The company is also actively investing in the development of egg white-based sports nutrition products under the Dava whitePro brand. The series consists of protein drinks and omelettes, and work is ongoing to develop more products.
It is therefore not the company’s expectation that fewer eggs or protein products will be sold in 2024, or that the supply on the world market will be filled – on the contrary.
Adm. director Ivan Noes has great expectations for the future and expects another good year in 2024: “We expect that more people will use more eggs in their daily diet, as it is a food with a good nutritional profile and a low climate footprint. Depending on which climate study method we use, we are between 1.4 and 1.8 CO2 equivalents per kilo of eggs. We are proud of that. With the increased capacity in our production, we are ready for the future – whatever the demand may be.”
