Over 4 billion francs
Emmi breaks sales record
The milk processor Emmi grew faster than expected last year. Sales broke the 4 billion Swiss franc mark for the first time. The company has grown enormously, especially on the other side of the Atlantic.
Published: 7 minutes ago
Emmi’s sales grew by 7.0 percent in 2022.
Sales at group level increased in Swiss francs by 8.1 percent to 4.23 billion francs, as Emmi announced. Organically, sales increased by 7.0 percent. This puts Emmi well above its own target range of organic growth of 5 to 6 percent.
Among other things, higher sales prices due to increased purchasing, transport and energy costs contributed to this. Since the higher costs were only reflected in the prices with a delay, the margins are likely to have come under pressure in 2022.
Things are going well internationally
In addition, the good business in the international markets, important strategic niches such as the group’s flagship – the Emmi Caffè Latte – or chilled premium desserts also contributed to the positive sales development. In addition, the development in the Swiss home market and in the food service business, in which Emmi supplies the catering trade, went well.
The “Americas” division, which includes the important US and Canadian markets as well as business in Brazil, Chile, Mexico, Tunisia and Spain, saw the strongest growth. It grew organically by 13.1 percent and, with sales of CHF 1.67 billion, was only slightly behind the Swiss business. This grew organically by 2.9 percent to CHF 1.70 billion.
goals are achieved
The much smaller Europe division – with Germany, France, Italy, the Netherlands, Great Britain and Austria – and the international direct trading business “Global Trade” contributed 730.4 million and 127.6 million respectively to sales.
Due to market changes, Emmi reports an impairment of CHF 13 million on fixed assets at the German organic milk subsidiary Gläserne Molkerei. Adjusted for this depreciation, Emmi still expects an operating profit margin of 4.5 to 5.0 percent for 2022. The EBIT – also adjusted – should remain in the lower range of the 265-280 million promised. The exact winning numbers will then follow in the annual report in spring. (SDA/kae)
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