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Dutch spot on nice result Emmi
Swiss cheese maker Emmi has had a better than expected 2021. Turnover increased by €200 million thanks to a better result almost across the board. Only the turnover in Switzerland fell, while there were also problems with the sale of goat milk powders in the Netherlands.
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The company reports this the publication of the provisional annual figures. A total of €3.768 million worth of product was sold, compared to €3.706 million in 2020. With a turnover of just under €1,6 billion, Switzerland is still the largest market for Emmi, even though it is shrinking. The still fast-growing Americas division follows closely behind, with a turnover of more than €1,4 billion.
Recovery and setback in the Netherlands
Europe follows as third, with a turnover of €638 million. Good turnover growth was achieved here, just as in the Americas division. This also happened in the production and sale of fresh goat cheese by the Bettinehoeve. Recovery occurred there after the first phase of the corona pandemic. Sales of goat's milk powder and concentrates, partly from the same company, were doing a lot less well. According to Emmi, 'challenges in overseas logistics' negatively affected the results there. Fortunately for Emmi, the recovery in fresh products exceeded the negative results in powder sales.
Emmi achieved the most growth at the small Global Trade business unit. There, turnover increased by 11,5% to €117 million, mainly due to additional turnover in bulk products.