Danish cookie maker Kelsen Group, responsible for the popular Kjeldsen cookies, says it is closing subsidiaries in China and Hong Kong. The company links the move to a change in its distribution model and a shutdown process.
According to FødevareWatch, In the company’s 2024/25 annual report, Kelsen Group reported revenue of 1,165.8m kroner. It also reported a net loss of 30.5m kroner for the year.
The company said its operating result was a loss of 26.3m kroner in 2024/25. It compared that with an operating loss of 148.5m kroner in 2022/23.
Kelsen Group said the 2024/25 result was affected by the subsidiary closures in Hong Kong, China and South Africa. It also said sales in China and Hong Kong are being phased.
Looking ahead, the company expects net revenue to fall by 10–15% in 2025/26. It said this is mainly due to lower sales in China and Hong Kong.
