Despite the global turmoil and negative foreign exchange trends, Emmi generated net sales of CHF 3,706.1 million and growth of 6.1 % in 2020. Organic growth was 1.9 %, confirming the robustness of Emmi’s business model, the well-balanced nature of the product and country portfolio, and the organisation’s adaptability. The Swiss business was the main contributor to growth in the first half of the year, whereas the foreign markets performed strongly in the second half. Brand concepts such as Emmi Caffè Latte and Kaltbach also posted gains during the crisis. In Switzerland, the increase in imported milk products had a negative effect on Emmi.
The company highlights acquisitions as positive factors for its business:
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Acquisition of a blue cheese production site(US, 28 February 2019)
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Acquisition of Leeb Biomilch GmbH and Hale GmbH (Austria, 8 October 2019)
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Acquisition of Laticínios Porto Alegre Indústria e Comércio S.A. (Brazil, 24 October 2019)
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Acquisition of Pasticceria Quadrifoglio S.r.l. (Italy, 31 October 2019)
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Merger of Surlat and Quillayes(Chile, 15 January 2020)
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Acquisition of Chäs Hütte Zollikon GmbH (Switzerland, 29 July 2020)
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Acquisition of Indulge Desserts Group (US, 6 October 2020)
Negative factors (divestments )were :
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Sale of Emmi Frisch-Service AG(Switzerland, 3 April 2019)
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Sale of Lácteos Caprinos S.A.(Spain, 18 December 2020)
| Sales by product group: Business division Switzerland | |||||||
| in CHF million |
Sales 2020 |
Sales |
Difference |
|
Acquisition |
Currency |
Organic |
| Dairy products |
682.9 |
686.6 |
-0.5 % |
|
-0.4 % |
– |
-0.1 % |
| Cheese |
434.2 |
427.1 |
1.7 % |
|
-0.7 % |
– |
2.4 % |
| Fresh products |
341.3 |
336.0 |
1.6 % |
|
-0.4 % |
– |
2.0 % |
| Fresh cheese |
106.3 |
102.5 |
3.7 % |
|
-1.9 % |
– |
5.6 % |
| Powder/concentrates |
63.2 |
60.0 |
5.3 % |
|
– |
– |
5.3 % |
| Other products/services |
58.3 |
62.8 |
-7.1 % |
|
-5.7 % |
– |
-1.4 % |
| Total Switzerland |
1,686.2 |
1,675.0 |
0.7 % |
|
-0.7 % |
– |
1.4 % |
| Sales by product group: Business division Americas | |||||||
| in CHF million |
Sales 2020 |
Sales |
Difference |
|
Acquisition |
Currency |
Organic |
| Cheese |
527.1 |
493.7 |
6.8 % |
|
17.4 % |
-9.7 % |
-0.9 % |
| Dairy products |
353.4 |
283.3 |
24.8 % |
|
26.7 % |
-14.2 % |
12.3 % |
| Fresh products |
226.1 |
202.9 |
11.5 % |
|
20.6 % |
-6.4 % |
-2.7 % |
| Fresh cheese |
62.3 |
25.9 |
139.9 % |
|
203.8 % |
-66.6 % |
2.7 % |
| Powder/concentrates |
21.1 |
7.8 |
172.1 % |
|
194.5 % |
-60.8 % |
38.4 % |
| Other products/services |
91.8 |
101.1 |
-9.1 % |
|
10.9 % |
-10.0 % |
-10.0 % |
| Total Americas |
1,281.8 |
1,114.7 |
15.0 % |
|
25.3 % |
-11.9 % |
1.6 % |
In Europe, Emmi generated sales of CHF630.7m, 6.4% more than in the year before. Sales totaled CHF 290m for fresh products, CHF129m for cheese and CHF 99m for other dairy products, to name the most important positions.
Outlook: Emmi is standing by the earnings forecasts for 2020 that were communicated in March 2020 and confirmed in August.
