Emmi real terms sales decline7 Feb 2017
Emmi has announced that it increased group sales by 1.4 % to CHF 3,258.8 million in 2016. In organic terms, i.e. excluding currency and acquisition effects, this means a decline of 1.0 %.
Emmi has announced that it increased group sales by 1.4 % to CHF 3,258.8 million in 2016. In organic terms, i.e. excluding currency and acquisition effects, this means a decline of 1.0 %. This result reflects considerably lower sales in the business division Switzerland (-2.9 %), a decline of 0.2 % in the business division Europe and growth of 2.8 % in the business division Americas. Inhibiting factors, the company said, were retail tourism, which continues to be strong; increased imports to Switzerland; economic uncertainties (such as Brexit); as well as internationally low milk prices. This is in contrast to the growth shown by brands such as Emmi Caffè Latte, Kaltbach and Yoqua, which the company said is a promising sign.Inhibiting factors were in particular the cheese and fresh cheese segments in the business division Switzerland, internationally low milk prices and difficult conditions in markets such as Spain, Chile and the United Kingdom (Brexit). By contrast, the growth achieved by brands such as Emmi Caffè Latte, Yoqua, Kaltbach, Vitalait and Rachelli was pleasing, Emmi said.“Import and price pressure in Switzerland were challenges that characterised 2016,” said Emmi’s CEO Urs Riedener. “With the organic growth in the business division Americas, we were able to offset the drop in sales in Switzerland only to a certain extent. The development of niche markets such as organic and goat’s milk products, the support for our brand platforms and various recent acquisitions should have a positive effect on our sales in future.”
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