FDBusiness.com

Emmi’s Sales and Profit Performance Slightly Above Expectations

 Breaking News
  • Coca-Cola HBC to Acquire Italian Water and Sparkling Beverages Company in €88 Million Deal Coca‑Cola HBC has agreed to acquire Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business based in Italy. The acquisition is being made in conjunction with The Coca-Cola Company, in-line with previous similar acquisitions. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts [...]...
  • Britvic Signs Up to Science Based Targets Initiative Britvic has pledged to pursue bolder greenhouse gas (GHG) emission reduction targets by signing up to the Science Based Targets initiative. Britvic joins around 600 leading companies from around the world in formally committing to independently verified science-based GHG emission reduction targets. Britvic’s A Healthier Everyday sustainability strategy recognises climate change as one of the biggest threats facing [...]...
  • Marks & Spencer Partners Infarm to Bring Urban Farming to London Stores M&S Food is partnering with infarm – one of the world’s most advanced urban farming platforms – to deliver a range of fresh produce grown and harvested in a selection of the retailer’s London stores. Customers will now find a range of fresh herbs – including Italian, Greek and Bordeaux Basils, Mint, Curly Parsley and Mountain [...]...
  • Coca-Cola European Partners to Remove 4,000 Tonnes of Single-use Plastic by Swapping Shrink Wrap For Cardboard in Western Europe Coca-Cola European Partners, will be replacing plastic shrink wrap with cardboard for its can multipacks across Western Europe, removing approximately 4,000 tonnes of single-use plastic per year across the region. This is the latest move in Coca-Cola’s commitment to tackle packaging waste and remove all unnecessary single-use plastic from its secondary packaging. Plastic shrink wrapping is used [...]...
  • EU Leading in Global Agri-food Trade The EU has been confirmed for yet another year in its position as the largest global exporter of agri-food products, with sales reaching €138 billion in 2018. Agriculture products represent a solid share of 7% of the value of EU total goods exported in 2018, ranking fourth after machinery, other manufactured goods and chemicals. Agriculture and [...]...

Emmi’s Sales and Profit Performance Slightly Above Expectations

Emmi’s Sales and Profit Performance Slightly Above Expectations
March 09
10:13 2018

Emmi, the Swiss dairy group, increased its sales by 3.2 % to SFr3.36 billion (€2.87 billion) in 2017. In organic terms (adjusted for acquisition and currency effects), group sales grew by 0.5 %. Sales and earnings slightly exceeded Emmi’s expectations.

Earnings before interest and taxes (EBIT) rose by 1.6 % to SFr206 million, resulting in an EBIT margin of 6.1 % (2016: 6.2 %). Net profit was SFr161.6 million, compared with SFr140.3 million in the previous year, resulting in a net profit margin of 4.8 % (2016: 4.3 %).

Urs Riedener, chief executive of Emmi Group, comments: “Emmi made up a good deal of ground in the second half of the year, boosted by the good sales performance in the US and Tunisia, a well-functioning cheese business and more favourable economic conditions. Our earnings were also supported by the efficiency programme currently running in Switzerland and several international subsidiaries.”

Urs Riedener, chief executive of Emmi Group.

The global economy has accelerated, which will benefit the growth markets of Emmi’s business division Americas in particular. Emmi expects a continued increase in demand in Tunisia and the US, while the Chilean market should also confirm signs of a recovery. Foreign currency effects in countries such as Chile, Mexico and Tunisia will continue to be an issue, however. In addition, the European markets in this division (Spain and France) will once again inhibit growth this year.

Although the economy in the eurozone is expected to grow in 2018, our forecast for the business division Europe takes account of several inhibiting factors such as continued strong competition, the consequences of Brexit and the performance of the British pound. This will affect the performance of Emmi’s UK business (Onken yogurts, exports from Switzerland and dessert exports from Italy). Combined with the recent appreciation of the euro, this business division should make a positive contribution to sales performance overall, taking into account all markets.

Given favourable conditions, sales growth may also be possible in Emmi’s home market of Switzerland in 2018.

To support earnings, Emmi will also continue its efficiency and cost-saving programme and step this up above all at its international production sites. Emmi consequently expects operating profit to be higher year-on-year in 2018.

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements