Sales of the Lithuanian company „Nordic Sugar Kėdainiai“, one of the largest sugar producers in Europe   managed by the Danish „Nordic Sugar“ company „Nordic Sugar Kėdainiai“, grew by 44% in the last financial year, to EUR 114.3 million, thanks to the record harvest of sugar beet.

The company's largest revenue of €96 million came from sugar sales, which grew by 43% to €67.2 million (previous year: €67.2 million), and from animal feeds, which grew by 28% to €10 million (€7.8 million), according to a report filed with the Centre of Registers.

„Growing conditions for beet were favourable throughout last year's growth. Sufficient moisture was available, resulting in a record sugar beet root yield of 71.2 tonnes per ha, compared with 55.4 tonnes per ha in 2022," „Nordic Sugar Kėdainiai“ reported.

The company produced 45% more sugar in the last financial year, which ended in March, with a production increase of 125.1 thousand tonnes (86.4 thousand tonnes).

Sugar production at the company takes place in September & January – last year – and early this year, the production season lasted 142 days due to a record sugar beet harvest, but the sugar yield was very low – 15.9% – 1.5 percentage points below the five-year average (17.4%).

According to the company, due to the extremely low sugar content and the poor quality of the beet, the boiler house energy costs per tonne of sugar were 15% higher than in the previous year.

Environmental conditions also posed a significant challenge as production was delayed during the winter and a part of the beet fields were damaged.

Despite higher revenues, „Nordic Sugar Kėdainiai“ reduced its net profit by 3% to EUR 10.9 million in the last financial year.

„Nordic Sugar Kėdainiai“ invested €1.6 million in renovations, with the biggest investment of the year being the construction of a new molasses heating tank.

In 2024–2025 „Nordic Sugar Kėdainiai“ intends to upgrade the service centre, equipment and production process. 

The company is the largest sugar producer in Lithuania, supplying a large part of the Lithuanian and Baltic markets.

Sugar beet was grown by 167 producers in 2023, of which 17 farms produced organic beet. For white sugar production, beet was purchased from Lithuanian and Latvian growers, and for organic sugar production only from Lithuanian farmers. 

According to the data of the Centre of Registers, 77.02% of the shares of „Nordic Sugar Kėdainiai“ are held by „Nordic Sugar“, 21.52% by other shareholders, and 1.46% by the company itself.

According to the data of„Sodros“, the company currently employs 272 people.