FDBusiness.com

Encouraging First Half Performance From Emmi

 Breaking News
  • UK Supermarkets Sweep Up 17 Months of Growth UK supermarket sales have increased in value by 3.1% compared with last year according to the latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 8 October 2017. This marks the 17th period of growth in a row for Britain’s grocers. Like-for-like grocery inflation remains at 3.2% but consumers could be [...]...
  • Hilton Food Group to Expand to New Zealand Hilton Food Group, the UK-based specialist international meat packing business, is to proceed with plans to expand its packing capability to New Zealand. Hilton will construct a new meat processing facility in Auckland and supply Progressive Enterprises, New Zealand’s leading retailer, trading as Countdown Supermarkets. As Progressive Enterprises is also part of the Woolworths business, [...]...
  • From Measurement Data to Smart Actions Energy and process industry monitoring and control systems contain a lot of data, which is not always fully utilised. Data is also collected in different systems, which further hampers comprehensive overall management. The efficient use of measurement data is increasingly becoming a crucial factor in gaining a competitive advantage. Elomatic’s FORMIOT data analysis service offers support [...]...
  • Rocla’s Automation Solution Maximizes Storage Capacity and Saves Money Operations at Valio’s new whey powder factory started gradually in Autumn 2014. The main goal was to build a fully automated warehouse. Valio also needed to maximize the storage capacity in this space, and to be able to adjust the temperature and air humidity. At the warehouse there are 3 Rocla’s automated guided vehicles (AGVs) [...]...
  • Packaging Automation Helps Chicory Crops to Grow As a growing business Packaging Automation know how important it is to keep cash within the business and how hard it is to acquire the machines and equipment you need to grow. Packaging Automation want to help businesses to grow, adapt and keep up with what can be frighteningly fast paced growth without tying up [...]...

Encouraging First Half Performance From Emmi

Encouraging First Half Performance From Emmi
August 19
10:08 2015

Emmi has reported a 3.8% decline in sales to SFr1.563 billion (€1.447 billion) in the first half of 2015 with revenue down organically by 1.7% as the Swiss dairy group coped well with the negative trend of the euro. However, Emmi exceeded its profit targets. Adjusted EBIT was up by 14.3% to SFr84.9 million and the adjusted EBIT margin was improved from 4.6% to 5.4 %. The adjusted net profit was SFr46.6 million – up by 3.1% – with adjusted net profit margin advancing from 2.8% to 3.0 %.

Emmi’s Switzerland and Americas business divisions performed in accordance with forecasts. The Europe business division performed better than expected.

Urs Riedener, chief executive of Emmi, comments: “This encouraging performance is mainly due to the range of measures that have been consistently applied since the beginning of the year, as well as enhanced earnings in the Europe and Americas business divisions. Our goal in the second half of the year is to keep the decline in sales within reasonable limits – particularly in Switzerland.”

Emmi expects the market situation to remain challenging for the rest of 2015. In Switzerland, higher retail tourism and import pressures, the fierce price competition in the industrial business, and declining consumption in the food service sector will be noticeable. The company anticipates that the negative effects of the weak euro on sales in Switzerland might be even greater in the second half of the year.

In the business division Americas, good organic growth is anticipated, especially in Tunisia, while development in Chile and France is likely to remain muted.

In the business division Europe, the northern European markets will be more stable than those in southern Europe. The pressure will be greatest in economically stricken Italy and price-sensitive Germany, while the UK will benefit as a non-member of the eurozone.

At group level, Emmi is adhering to its sales target and still expects an organic decrease in sales of -3 % to -2 %. Emmi anticipates an EBIT of between SFr170 million and SFr180 million (previously SFr150 million to SFr160 million). The net profit margin is expected to be slightly over 3 %.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 19, 2017PMA Fresh Summit 2017
  • October 21, 2017Food & Nutrition Conference & Expo 2017
  • October 22, 2017Serbotel
  • October 22, 2017Natexpo
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements