Emmi Group reports increased turnover
The Emmi Group increased its turnover in the first half of 2021 by 6.2% to CHF1.8 billion (€1.67bn), which is a 3.7% organic growth over its own expectations. This development was driven by the recovered dynamics in international business, successful brand concepts such as Emmi Caffè Latten and Kaltbach and growth in strategic niches such as dessert specialities, the company says.
In its home market Switzerland, on the other hand, sales losses had to be accepted as expected, the company says.
The good overall performance, with a further improvement in the earnings situation on level EBIT and net profit, reflects the robustness of the business model, according to the firm. However, the second half of the year continues to see massive uncertainties. With normalisation, Emmi expects to not see growth until 2022 return from the setbacks of the Covid-19 pandemic at earliest.
Nevertheless, the Emmi expects on group level – especially due to positive dynamics in international business – a total of slightly higher organic growth.
As expected, sales development in the first six months of 2021 was still under the forecast for the full year. This due to the exceptional sales growth in the same period of the previous year.
For the Emmi Group, organic growth is expected to be 2 to 3% for the full year.