Emmi’s sales slump but profits soar

While the sales of some dairies have plunged during the first half of the year, Switzerland’s leading processor Emmi has escaped almost unscathed with turnover for the first six months at CHF 1,281 million (€847,000), 0.7% down on the same period of 2008.

But profit over the same period soared by 23% for the Lucerne-based concern.

Helping keep turnover almost stable was the income from the USA Roth Cheese which was bought in January this year. Profits were given a useful injection from the introduction of Emmi Swiss Muesli in Germany in the first quarter and CaffĬ Latte Zero in the second.

Some 30% of Emmi’s turnover came from cheese sales. Not counting the income from the Roth input, turnover in this sector was down by 10.9% although the dairy points out that premium brands are selling just as well as last year. The main culprit for the slump, it is claimed, is currency exchange loss.