Emmi increased its sales by 6.1 % to CHF 3,706 million in a challenging 2020, surpassing its own expectations with broad-based organic growth of 1.9 %. The improved EBIT performance – up 5.5 % to CHF 256.6 million, or 11.5 % to CHF 271.2 million after adjustment for non-recurring effects – reflects Emmi’s robust business model and consistent strategy implementation. Net profit was CHF 188.4 million (-3.4 %), or CHF 202.6 million on an adjusted basis (+3.9 %). Contributing factors behind this good performance included the strong brands business and the company’s activities in strategic niches.
Despite continuing uncertainties, Emmi expects organic growth of 1 % to 2 % and slightly higher EBIT in 2021.
“The pleasing results are a vindication of our choice to rigorously pursue our strategic course and further build on our proven business model with a diversified product and country portfolio and crisis-resistant brand concepts. Our success in continuing to grow profitably during this extraordinary year, despite tough operating conditions and substantial setbacks in the food service business, also bears testament to the tremendous dedication of our employees and the resilience of our organisation. What is more, because our long-term success is closely bound up with nature, we have undertaken not just to keep shrinking our own carbon footprint, but also to extend this ambition to our entire value chain and aim for net-zero emissions,” said Emmi Group CEO Urs Riedener.
Emmi Group sales exceeded CHF 3.7 billion for the first time, of which more than CHF 2.0 billion was generated outside of Switzerland. This is comprised of organic growth of 1.9 %, a positive acquisition effect of 8.7 % and a negative currency effect of 4.5 %.