FDBusiness.com

Emmi increased sales by 6.6 % to SFr1.774 billion (€1.649 billion) in the first six months of the financial year, which were characterised by the coronavirus crisis. The organic growth of 2.0 % achieved by the leading Swiss milk processor was driven in particular by a strong retail performance in the Swiss domestic market, key brand concepts such as Emmi Caffè Latte and sales in strategic niches. The slump in the food service sector triggered by the pandemic affected sales in the business division Americas in particular.

EBIT improved by 6.4 % to SFr112.0 million, while net profit was down by 6.5 % at SFr81.3 million. Despite considerable uncertainty, Emmi remains cautiously optimistic for the full-year.

“Our business model has proven itself even under difficult conditions, backed by a diversified product and country portfolio, strong brands and an agile organisation. I am particularly pleased that we maintained supply at all times, not least thanks to the tireless commitment of our employees, and were thus able to deliver growth despite the extremely difficult environment,” says Urs Riedener, CEO of the Emmi Group.

Concerning sustainability, Emmi has been focusing on the four areas of waste, greenhouse gas reduction, employees and sustainable milk, which have been subject to specific and binding targets since 2016. Further progress was made in the first half of 2020. In Switzerland, Emmi now processes 87 % of its milk produced according to the Swissmilk Green sustainability standard, meeting growing demand from consumers and customers. With a reduction of 23 % compared to the base year 2014, it is also on track to deliver on its Group-wide greenhouse gas emission target. However, more efforts are needed in waste reduction to build on the 18 % decrease achieved in reducing food waste.