M-Industrie Sees 10.9% Growth In International Business In FY 2018
M-Industrie, a part of Switzerland's Migros Group, has posted a 10.9% growth in sales, of CHF 79 million (€69.6 million), in its international business unit for its financial year 2018.
Growth was mainly driven by the sales of cosmetics, coffee capsules, chocolate, and cheese.
In Asia, the acquisition of the South Korean company, Gowoonsesang Cosmetics Co., Ltd. strengthened its position in the market.
Consolidated sales for the financial year increased 2.7% to CHF 5.83 billion (€5.1 billion).
Excluding the loss in revenue from the divestment of Cash + Carry Angehrn (CCA), the company saw a sales growth of CHF 155 million (€136.6 million).
Sales In Other Channels
In the Swiss market, M-Industrie witnessed a 1.5% increase in sales to CHF 5.02 billion (€4.4 billion).
Business with the Migros Group resulted in a growth of 0.8% to CHF 4.12 billion (€3.6 billion).
Sales in its large consumer business went up by 5% to CHF 906 million (€798.5 million).
M-Industrie said that it will continue to consistently develop its wholesale business in Germany, and focus on dynamic growth in international business.
In 2018, it invested CHF 207 million on capacity expansions, automation, and digitisation of processes.
It also made investments to reduce CO2 emissions and water consumption.
© 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.