HKScan Revises its Strategy
HKScan’s board of directors has approved the Nordic meat group’s strategy, which will focus on the consumer by leading the food value chain. The ‘From Farm to Fork’ strategy focuses on active food value chain leadership, with the capability for renewal. It emphasises innovation, cost competitiveness and sustainability, with a strong focus on consumers.
Jari Latvanen, president and chief executive of HKScan Group.
“We see opportunities for growth. There are several consumer trends supporting the growing demand for sustainably produced high-quality food. We are confident that by creating innovative products and concepts that appeal to consumers, we can strengthen our brands and drive category growth. We set high-quality standards in everything we do. By stressing high-quality and sustainability, we can build sustainability a differentiating edge for both Nordic and international markets. Our values – Inspire, Lead and Care – guide our daily work”, says Jari Latvanen, President and CEO of HKScan.
HKScan aims to expand its influence to reach a leading market position and presence in key sales channels in its Nordic home markets and develop international growth avenues with a focus on Asia.
Its core business is meat and meals. HKScan will be present in all price segments, but drive growth by building a stronger position in upper mainstream and premium segments.
The group has defined five must-win battles to reach its strategic objectives and to effectively execute the strategy – focus on meat; leadership in poultry; continue growing its meals business; co-operate with the farming community; and drive efficiency and cost-competitiveness.
HKScan’s long-term financial targets remain unchanged – operating profit (EBIT) over 4 per cent of net sales; return on capital employed (ROCE) over 12 per cent; net gearing: under 100 per cent; and dividends: over 30 per cent of net profit.
