Italian fresh- and frozen-vegetable producer Orogel posted a consolidated turnover of €687.4 million in 2018, up 0.4% on the previous year.
The positive result was achieved despite a 3.1% drop in consumption of frozen vegetables in Italy during the same period.
Exports grew by 13.6% year on year and now account for 4% of the total turnover in its frozen-food segment.
Divisional Performance
In the frozen-food segment alone, turnover reached €239.1 million, up 3.6%, of which more than two thirds were achieved in the retail channel, registering 48.7% growth since 2009.
Orogel-branded products accounted for 17% market share within frozen food, up 4% when compared to 2016.
In the foodservice sector, the brand secured a 23.4% market share, up 2.5% when compared with 2017.
The jam segment grew 5.1% annually and accounted for 6.2% of the total turnover.
Investments
The company invested €143 million (+12.6%) in 2018 and announced plans to invest a further €80 million for the three-year period between 2019 and 2021.
The funds will be used to upgrade its plants in Cesena, Ficarolo and Policoro.
The company exported 70% of its products to Europe, 5% to Japan, and 25% to the US.
In order to leverage further growth across the Atlantic, Orogel has set up Orogel USA, which will be responsible for developing the business in the American market and setting up a local purchasing campaign.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: European Supermarket Magazine.
