Lantmännen completes divestment of Russian operations

Swedish agricultural cooperative Lantmännen has completed the divestment of its operations in Russia, signifying a full withdrawal from the Russian market. The company's Russian activities were separated and isolated from the rest of the group in March 2022 and have operated independently since.

The divestment process experienced delays due to complex conditions and evolving Russian legislation. Final approvals from Russian authorities, necessitated by new legal requirements, were pending.

With the finalization of the sales, Lantmännen reports a net loss of approximately 385 million Swedish kronor. The company had previously written down the assets in Russia by a total of 500 million kronor in 2022.

The results of the Russian operations have not been consolidated with the group's wider financial reporting since their isolation.