joining forces in the...
TRANSCRIPT
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Joining Forces in the NordicsAn update from VikingGenetics
24.07.2018
NÖK Congress 2018, Rättvik, Sweden
CEO Rex A. Clausager, VikingGenetics
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Why does VG exist?
Because of you!
Common Evaluation / Common breeding goal / NAV (based on NÖK discussions – common AI company incl. Norway)
Importance of population size / Share population
Sharing large future investments
Need for partners / fear that partners would merge with someone else
Cultural similarities / background: Nordic
Nordic countries all doing health traits
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www.vikinggenetics.com
Who knows what is important?
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Successes so far!
Top
Genetic
Progress
Speedy
implemen-
tation of
genomic
selection
Successful
merge of
breeds
across
countries
Working
across
borders
Sensible
price level
in the
market Obtained
synergies
Ability to
return
created
value to
farmer/
owners
Develop-
ment of
new traits
R&D in
common
Exports
would have
been
difficult
separately
VR has
been able to
reach global
position
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www.vikinggenetics.com
EuroStat (October 2017)
5
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www.vikinggenetics.com
What took us here
will not take us there!
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www.vikinggenetics.com
Regional
National
Scandinavian
Bigger Global
Start with the Spirit
Slowly began to
spread their wings
Become famous
in the competition
New concepts and methods
implemented in the
company.
Becoming a true
global player
– commercial with coop
values
From local to global!
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www.vikinggenetics.com
Guiding Stars
8
Superior genetics
at competitive price
Superior workplace
- One Team
Growth to remain big enough
to count and stay competitive
Commercial minded
- coop values
Being an attractive
international partner
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www.vikinggenetics.com
Mindmapping our challenges
TECHNOLOGYDATA
COMPETENCES
COMPETITION
PROFITABILITY
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www.vikinggenetics.com
Breeding…
1868 1895 1903 1936 1945 1972 1987 2007 2017
IT can’t
replace
the herd
visit
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www.vikinggenetics.com
Total Homemarket (#doses)
2.496.128 2.376.406
2.183.991
1.990.401 1.873.271
1.709.356
111.295
140.907
149.236
157.478
147.983
184.190
74.956 98.889
197.622
273.482
337.680
377.473
-
500.000
1.000.000
1.500.000
2.000.000
2.500.000
3.000.000
2013 2013 2014 2015 2016 2017
Conv X-Vik Imported/Beef
-2%-3%
-4%-3%
-4%
-5%-8%
-9%-6%
-9%
2012
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www.vikinggenetics.com
Calculated Market Share
12
0
10
20
30
40
50
60
70
80
90
100
2012 2013 2014 2015 2016 2017
Växa Faba VD
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Changes in the competetivelandscape
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Changes in the competetivelandscape
Strategy and/or necessity?
Are you buying or being
sold?
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www.vikinggenetics.com
Impressions from the outsideworld!
15
Jaap Petraeus
(FrieslandCampina)
Anna-Karin Modin Edman
(Sustainability Manager, Arla Foods)
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www.vikinggenetics.com
Oh yes, the world is changing!
16
1868 1895 1903 1936 1945 1972 1987 2007 2017
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www.vikinggenetics.com
What is the future bringing?
17
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An elite athlete knows the amount, weight and content of nutrient in each meal to be elite
We expect our cows to be eliteBUT we don’t know what a cow is eating
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Background
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Aim and purpose
To develop a 3D camera system that can measure feed intake at individual cow level at each visit
May not:
• Disturb daily routines on farm
• Disturb cow behavior
Should be same system as for identification
Cattle Feed Intake (CFIT)
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System setup
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System setup
22
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www.vikinggenetics.com
Perspectives
Efficiency Health
GroupingBehaviour
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RFID in insemination
straws
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RFID – vision!
25
New standard for digitalization
Semen production and handling in Laboratory• Storage
• Accounting
• Traceability
Distribution of semen (Can also be with use of robotics)• Depots
• Technicians
• Farmers
• Export
A.I. Field work• Technicians
• Farmers
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Competitor overview
2,7
19
18
17
12
10
5
4,5
4
3,3
3
1
Sales
M doses OwnershipNordic Europe S.
America
AUS &
NZ HO RDCJER Beef
% of sales
in home
market
63%
Company and
home market
20%
50%
35%
92%
Other
dairy
Cooperative ownership
Breed focusGeographical focus
200 + 93 2015
186
120 (4%)
150
168 (1%)
100
Revenue*
MEUR (Ebit %)
#N/A
#N/A
33%
N.
AmericaAsia
Owned by public company Genus PLC
Cooperative ownership
Cooperative ownership
Cooperative ownership
Cooperative ownership
Cooperative ownership
Cooperative ownership
Cooperative ownership
Alta - Privately owned by holding
company. CRI - Cooperative
220 (10%)
#N/A
46 (1%)
#N/A
59%
30%
61%
49%
Xbreed
Cooperative ownership
Private, limited liability company#N/A
75% *
139 (10%) Cooperative ownership70%
3,2
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y
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Two ears – one mouth!
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Dialogue/Discussion
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Group Work
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Networking
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Socializing
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Increased
presence in UK
Reaching the sales target of 2.5 doses/14 MEUR
Increased
presence in
Australia
Increased presence in USA
5.9
~3.3-5.8
~0.3~1-3.5
~13.7-16.2
Revenue
2018 -
USA,
AUS, UK
0.7
Revenu
e 2018 -
USA,
AUS
~2
Revenu
e 2015
5.9
~1.5 ~2.2
5.9
~3.3-5.8
~2.3~0.3
~2
Revenue
2018 -
USA
5.9
~2.3
~3.3-5.8
~9.2-11.7
~11.5-14
Estimated revenue development for VG, 2016-2018
MEUR
Market
leader in
Crossb.
Seven projects have to be exploited and implemented to secure the sales target of 14 millions to be reached -
a growth in underlying export markets might or might not happen why it is important to initiated and
accomplish the seven projects
# million doses
1 ~0.2 ~0.15-
0.8
~0.1 ~0.2 ~0.05 ~0.1 ~1.9-
2.55
Get 10%
of VJ
market
VH
natural
choice in
PC~1.45-
2.1
Get 10%
of AU
market
Expand
to NZ
~1.7-
2.35
Increase
market share
in VJ and VH
Get 25%
of crossbree-
ding market
~0.1
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Farmer segments
Farming is a way of life
Farm and Family life closely linked
Farming as joy
Farming NOT a main source of
income
Love for farming
Need to makemoney
Enjoy life
Focus on family success and
income
Enjoy farming lifestyle
Value familylegacy
Focus on growth
Farming is a burden and a
struggle
Pessimistic
Heavy business focus and profit-
driven
Focus on growthand reachingfinancial goals
EMOTIONAL RATIONAL / HARD
FACTS
Custodians Lifestylers PragmatistsModern
Family
Business
Challenged
EnterpriseCorporate
farm
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Social Media Activities
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VikingDefenceTM
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Customized rankingrank.vikinggenetics.com
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Updated VikMatevikmate.vikinggenetics.com
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New ”daughter” – VG UK
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The French Connection
Jersey program based on joint population
• Base is VJ breeding program and Nordic Jersey reference
• VG has ownership to all bulls
• VG responsible for all costs in relation to breeding program and evaluations
• Evolution has access to all VG Jersey bulls and will be considered VJ home
market
• Evolution can buy doses to present VG home market prices
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Mindmapping our challenges
INNOVATION GROWTH
LEADERSHIP
DIGITALIZATION
SUSTAINABILITY
VALUE CREATION
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Stronger together
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www.vikinggenetics.com
Thank you for your attention!
43
ANY QUESTIONS
?
TEXT
WHAT WHY WHERE WHEN WHO HOW