Froneri reports solid revenue growth
Ice Cream company, Froneri has posted solid group revenue up 3.6% to €2.6bn (2017: €2.5bn) for the year ended 31 December 2018.
The company’s global A Brands revenue were up 17.9%, driven by successful marketing and promotional investment. The company saw successful leverage if its A Brands into new markets – Mondelēz is now available in 17 countries and Extrême was rolled out across the UK and Spain. Its private label revenue was also up by 13.7%, supported in part by the hot summer weather in Q2 2018.
Investment in innovation and capability totalled €193m, up 83% on 2017 (€105.4m). The company optimised its performance by introducing the latest technologies available on the international market and establishing 12 new production lines.
Commenting on the annual results, Froneri CEO Ibrahim Najafi said: “Since our creation in 2016 we’ve worked hard to bring the Froneri family together into one winning team dedicated to producing consistently high-quality ice cream in all our markets. I’m immensely proud of our culture where we all understand what excellence looks like, and the significant progress we have made towards achieving our vision of building the world’s best ice cream company.”
The positive momentum has continued into 2019, with the launch of Nuii supported by international advertising campaigns, the further optimisation of the business and a number of significant strategic developments including the acquisition of New Zealand’s Tip Top.
“We have a very bright future ahead and continue at pace on our journey to become the world’s best ice cream company,” said Mr Najafi.