Meat Firm Tönnies Sees Sales Decline 3.6% In Full-Year 2018
German meat products firm Tönnies Group has posted a 3.6% decline in sales in full-year 2018, due to a fall in pork prices.
News platform Rundschau reported that the group processed a total of 20.8 million pigs in 2018, 1% more than last year, of which 16.6 million were processed in Germany.
However, pork prices fell by 12.5%, leading the company to post a full-year turnover of €6.65 billion, a decline on the previous year.
Commenting on its performance, Andres Ruff, the company’s CEO, said that the firm is “systematically implementing its international growth strategy,” with growth in France, Poland, the UK and Denmark.
In Germany, however, the meat industry is under pressure from global imports from countries like Spain and the US, as well as lower consumer prices.
Ruff added that Tönnies has upped its corporate social responsibility commitments in the past year, and is “at the forefront of animal welfare and consumer transparency issues”.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine