Food Union Delivers Strong Results Driven by Innovation of New Products and Consumer Demand During the Pandemic
19.3.2021 01:00:00 EET | Business Wire | Press release
Food Union, the international dairy and ice cream production and distributing group, is pleased to announce its annual results to December 31, 2020.
Financial Highlights (EUR million)
|
|
2020 |
Change YoY |
2019 |
2018 |
|||||||
|
Net revenue |
293.5 |
6% |
276.6 |
280.1 |
|||||||
|
Gross profit |
118.4 |
14% |
103.6 |
113.1 |
|||||||
|
EBITDA |
46.1 |
46% |
31.5 |
38.3 |
|||||||
|
Cash flow from operating activities |
37.1 |
16% |
31.9 |
31.2 |
Operational Highlights
- Launched a total of 117 novelty ice cream products, many that became the best performing products in local markets.
- 99,150 tons of goods sold during the year with ice cream contributing to 60% of the sales value.
- Maintained market leading positions in the Baltics, is a leader in Denmark, and holds strong top positions in other geographies.
- 50% growth in ice cream door-step-delivery service resulting in 300,000 subscribers in Norway and Denmark.
- Opened four new e-commerce platforms in Latvia, Lithuania, Romania and Hong Kong.
- Investment of 2.7m euros in truck upgrades leading to a reduction of 112 tons of CO2 per annum.
- Invested for future growth with 9.1m euros CAPEX programme, including the Dairy Excellence Centre in Riga.
Laying a Foundation for Future Growth
“We are delighted to have achieved a record set of results in 2020. Food Union companies launched a total of 117 novelty ice cream products, with many that became leading products in local markets. Consumers discovered exclusive flavours, textures, and functional benefits, and these novelties unlocked local taste preferences, and offered a great deal of comfort, joy, and normality during the time of lockdowns,” said Normunds Staņēvičs, CEO of Food Union Europe. “We look forward to the future with confidence. We have a well invested business with further capital investment plans, continued product development and a strong leadership team across Europe,” he added.
ABOUT FOOD UNION
Food Union is the leading ice cream producer in the Baltics and Denmark, and the group holds a strong market position in Norway, Romania, Russia and Belarus. A leading, innovative consumer goods company, Food Union develops local brands and delivers delightful products in the premium snacking, ice-cream and dairy categories.
Food Union Group is backed by Hong Kong-based investment company Meridian Capital Limited, and one of Asia’s largest private capital firms, PAG.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210318005991/en/
Contact information
Linda Mežgaile
Food Union Head of PR
Linda.mezgaile@foodunion.com
T:+371 29772050
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Hologic Signs Definitive Agreement to Acquire Reveal Genomics19.10.2026 22:30:00 EEST | Press release
Hologic, a global leader in women’s health, today announced that it has signed a definitive agreement to acquire Reveal Genomics, a precision oncology company based in Barcelona, Spain, that develops advanced genomic diagnostic tests to help personalized cancer treatment, including its HER2DX test to help optimize therapy for patients with HER2-positive breast cancer. Breast cancer remains one of the most significant health challenges women face today. Reveal Genomics’ tests are highly complementary to Hologic’s existing oncology diagnostics, including the Breast Cancer Index® (BCI) test, the guideline-recognized genomic assay to help inform decisions regarding extended endocrine therapy in women with HR+ early-stage breast cancer. The combination of Hologic’s existing testing with Reveal Genomics’ portfolio represents a significant expansion of Hologic’s diagnostic oncology solutions, with the combined offering of new and existing testing expected to help inform treatment decisions fo
An Active Role in Freshness: ProAmpac Introduces ProActive Intelligence Shelf Protect19.10.2026 22:27:00 EEST | Press release
ProAmpac, a global leader in flexible packaging and material science, introduces ProActive Intelligence™ Shelf Protect (SP) Series, giving food producers a new way to help preserve product quality and reduce costly spoilage. Designed for select meat, seafood, and dairy applications, the technology is FDA- and USDA-compliant for intended uses in fresh beef, fresh pork, cooked sausage, deli meat, fresh salmon, and fresh cheese. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261019305953/en/ Clearshield®-SP Shrink Bag This direct food-contact biotechnology packaging helps reduce microbial growth associated with food spoilage in intended applications, supporting longer shelf life throughout storage and distribution. Shelf Protect’s patented biotechnology is built directly into food-contact packaging film. “For meat processors, every product lost represents an investment in production, packaging, and distribution that goes unreal
Vedanta Ltd Doubles Zinc Capacity in South Africa with US$ 600 Mn investment19.10.2026 20:19:00 EEST | Press release
Vedanta Limited doubled its annual zinc production capacity to 500,000 tonnes1in South Africa through an investment of nearly US$ 600 Mn at Gamsberg (Phase II) at Vedanta Zinc International (VZI). Gamsberg has one of the world’s most significant zinc deposits and is VZI’s flagship zinc mine. Inaugurated by South African President Cyril Ramaphosa and Vedanta Limited Director Priya Agarwal-Hebbar, this expansion marks one of the decade’s largest mining investments in South Africa. It advances Vedanta Limited’s position as the world’s largest2 zinc producer, with a vision of achieving 3 million tonnes of annual production across India and South Africa. Of this, 2 million tonnes are targeted from its subsidiary, Hindustan Zinc Limited the world’s largest integrated zinc producer, while Vedanta Zinc International business aims to contribute 1 million tonnes annually. This expansion strengthens the ZAR 21 Bn (nearly US$ 1.5 Bn) investment commitment Vedanta made at the 2018 South Africa Inve
Unlocking Digital Gold’s US$700bn Opportunity19.10.2026 19:00:00 EEST | Press release
The digital gold market, worth US$45–55bn today, could unlock up to US$700bn in latent demand, according to new research from World Gold Council and Boston Consulting Group. The report points to substantial untapped appetite among retail investors, with nearly nine in ten surveyed saying they would consider digital gold under the right conditions. The US$700bn opportunity represents the report’s estimate of total latent demand that could be released if today’s barriers to adoption were removed, rather than a near-term forecast. The report’s five-year base case sees digital gold growing by around 27% a year to US$160–170bn by 2031. That could rise to US$270–280bn over the same time if more barriers fall faster. Momentum is already building as financial markets undergo a broader digital transformation, bringing tokenised investment products increasingly into the mainstream. Tokenised gold, one segment of the digital gold market alongside vaulted digital gold, has grown fivefold in value
Roquette Brings Broad Portfolio of Excipient Solutions and Technical Expertise to AAPS PharmSci 360 202619.10.2026 17:00:00 EEST | Press release
Roquette, a global leader in plant-based ingredients, excipients and pharmaceutical solutions, will showcase its expansive portfolio of excipients, capsules, coatings, and biopharma solutions at AAPS PharmSci 360 2026. The conference and trade show will take place October 26-28 in New Orleans, Louisiana, USA. At Booth 1100 in the exhibit hall, Roquette’s Health & Pharma Solutions team will share their expertise across controlled-release technologies, hydroxypropyl beta-cyclodextrins, and sustainable formulation approaches, alongside a comprehensive portfolio of innovative solutions designed to address the evolving needs of pharmaceutical developers. “AAPS PharmSci 360 is a key opportunity to share our latest innovations, as well as highlight the breadth and depth of our scientific know-how that helps our customers solve complex formulation challenges,” said Peter Freed, Head of Technical Service & Development North America for Roquette’s Health & Pharma Solutions Business Unit. “From a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom