Refunds to Norrmejerier’s farmers approved despite cyber attack.

Profit sharing was approved for Norrmejerier’s dairy farmers on the general meeting held on Tuesday, April 23, one week after the cyber attack on the dairy in Umeå.

In early March, Norrmejerier announced a significant improvement in its financial performance, culminating in a positive annual result for 2023 exceeding SEK 15 million. At the April 23 meeting, the general assembly ratified the board’s proposal to distribute profits for 2023 as anticipated:

  • A 5% interest on invested capital, amounting to SEK 7,971,364, was disbursed
  • Additionally, 12 öre per kilogram of milk raw material processed was allocated to members’ investment accounts via investment issuance, totalling SEK 23,502,967. Consequently, the actual compensation for milk raw material for 2023 stood at 4.74 SEK/kg.

However, despite the profit-sharing measures, apprehensions persist regarding the future following the recent cyber attack on the Umeå dairy. The attack led to a temporary halt to all production activities. Although production resumed after 64 hours of extensive crisis management efforts, the full extent of the consequences remains uncertain. The burden of any economic fallout will ultimately be borne by the owners, the farmers of Norrland, according to a press release from the dairy.

Furthermore, during the meeting, Norrmejerier’s board was elected, with three new members appointed, bringing valuable external industry experience to the table. The board members are Cecilia Gyldén, Emil Frölander, and Carl-Peter Thorwid. Göran Olofsson, Stefan Stolt, Lars Eriksson, Frida Lundberg, John Baars Jonas Vängbo, Janne Vaattovaara, Lina Jonsson, and Lennart Åström.

Read the full press release HERE