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Lockdown on home market does not inhibit dairy giant Yili
The turnover of the Chinese dairy giant Yili continues to grow strongly, partly due to acquisitions. Last year, turnover increased by 14% to the equivalent of €15,9 billion. Profits actually increased by almost 25% to €1,25 billion. In the first quarter of this year, a sharp increase in turnover is again visible, despite strict lockdowns in the home market.
Yili, who recently entered the top 5 largest dairies, continues this year where it was last year stayed used to be. And that is achieving revenue growth. In the first quarter of this year, sales increased by 13%, compared to the same period last year. Profitability also improved again.
The company profits from the growing Chinese dairy consumption. On the home market, it no longer seems to matter whether the dairy comes from China or from the Western world. The food scandals of the past are no longer an obstacle to significantly boosting sales. The strict lockdown in Shanghai also does not lead to a drop in demand. Yili says it needs all production capacity to meet the demand.
Acquisition of Ausnutria completed
In March, the participation in Ausnutria was formally completed, which was announced at the end of last year. Yili now has a 34% interest in the producer of goat milk powder and is therefore the majority shareholder. Yili also started a cheese company in the first company to respond to the rapid consumption growth in China.
Wouter Job
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