Swiss Dairy Firm Emmi Sees Consolidated Revenue Up 2.8%
Swiss dairy firm Emmi has posted a 2.8% increase in consolidated revenue in full-year 2018, to CHF 3.47 billion (€3.04 billion).
If adjusted for currency and acquisitions, the increase was 2.3%, with the group hailing the performance as its strongest since 2014.
Sales in its home market of Switzerland were up 0.6%, the company said, which was marginally ahead of forecasts, 'despite persistently high price pressure on the part of customers', the company said.
In its America division, sales hit the billion Swiss franc mark for the first time (CHF 1.044 billion), with overall sales up 5.6%.
Its Europe division, meanwhile, saw sales growth of 4.4%, while its Global Trade division, which encompasses various markets in Asia, Eastern Europe and South America, saw a decline of 10.4%
Successful factors for the group last year included the 'dynamic development' of its Tunisia and Chile businesses, as well as the performance of Emmi Caffé Latte and its goat milk products.
"We are satisfied that we have achieved significant organic growth," said Urs Riedener, the group's chief executive.
"The quality of the growth is also supported by the promotion of brand growth, the strong development of niches such as Italian desserts and goat's milk products, as well as the upswing in the emerging markets of Tunisia, Chile and Mexico. We expect that the acquisitions of recent years will continue to boost sales. "
© 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.