German dairy giant Deutsche Milchkontor (DMK) has reported a marginal increase in earnings to €30.6 million in its financial year 2018 from €29.6 million a year earlier.
The dairy group recorded annual sales of €5.6 billion during the fiscal year, with equity ratio remaining stable at 30.9% (2017: 31.1%).
It also announced a long-term programme - Vision 2030 - to transform the dairy group into a 'strongly market and consumer-oriented company.'
Through this programme, the DMK Group will address changing dietary trends and consumer preferences through subjects like sustainability in animal welfare, environmental protection, and regional and convenience foods.
The 'Vision 2030' programme will focus on six key areas which include deepening DMK's understanding of the consumer to offer targeted products.
The company will focus more on its product range and define clear roles for its business segment.
It will change its positioning from a volume player to a provider of 'selected products of natural origin' in the dairy industry.
The dairy group also aims to develop its international portfolio by teaming up with major-European retailers.
Outside of Europe, it will initiate measures to distribute its business in regional production facilities.
For the future, the company will also consider venturing into alternative beverage and food in addition to dairy products.
"If you look at the global developments, you quickly realise two things. On the one hand, milk alone will no longer be enough to feed the growing population; on the other hand, consumers are already looking for alternatives for a variety of reasons," DMK chief executive, Ingo Müller explained.
The dairy group has appointed Beiersdorf vice-president of finance in Europe, Dr Frank Claassen, as its new chief financial officer, effective 1 July 2019.
He will succeed outgoing finance chief, Volkmar Taucher.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.