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
Ant International’s R2 Enters Brazil, Bringing Embedded Credit Technology to Serve SMBs and Gig Workers27.8.2026 12:00:00 EEST | Press release
R2 today announced its expansion into Brazil, marking the company's entry into Latin America's largest economy. With the support of Ant International, a leading global digital payment, digitisation and FinAI solutions provider, R2 will partner with digital platforms across Brazil to embed working capital solutions directly into the products their merchants and gig workers already use. For digital platforms, marketplaces, payment providers, ecommerce companies, and others serving SMBs and gig workers, R2 provides a proven embedded credit technology solution that enables them to offer financing to their users without building credit operations themselves, and without taking on credit risk. The result is a new revenue stream and a stronger value proposition for their merchant base. For the businesses and workers those platforms serve, it means access to working capital based on how they actually perform, not on documentation that most of them don't have. "Brazil is a defining milestone in
Samsung Display Elevates Gaming Immersion with QD-OLED at Gamescom 202627.8.2026 11:30:00 EEST | Press release
Samsung Display will showcase the gaming performance advantages of QD-OLED through collaborations with global game companies at gamescom 2026, the world’s largest gaming exhibition. The company also announced plans to begin mass production of 24.5-inch QD-OLED panels optimized for eSports and FPS games by the end of this year, underscoring its technology leadership in the gaming monitor market. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827640374/en/ Visitors experiencing PRAGMATA on gaming monitors featuring Samsung Display’s QD-OLED at the CAPCOM booth during gamescom 2026 Highly anticipated titles from CAPCOM, KRAFTON and CD PROJEKT RED take the stage at gamescom with QD-OLED displays Samsung Display announced on August 27 that it will partner with global game companies including CAPCOM, KRAFTON, and CD PROJEKT RED at gamescom 2026, taking place in Cologne, Germany, from August 26 to 30. New and flagship titles fro
SCP Standard Capital Partners AG: VANEA Defence Unveils ATOMZA®, the First Production-Ready Drone Defence System for Civilian Operators27.8.2026 11:13:00 EEST | Press release
VANEA Defence today unveiled ATOMZA, the world’s first drone defence system designed for civilian deployment that can be operated by private organisations without sovereign enforcement powers. The system opens up a previously inaccessible market for active counter-UAS solutions, which until now have largely been restricted to public security authorities legally authorised to intervene against drones. ATOMZA will make its public debut at Drone Days in Bremen, Germany, on 27th and 28th August. A new category of civilian counter-UAS mitigation ATOMZA uses a non-kinetic optical effector that employs directed photonic radiation to disable a drone’s optical sensors without destroying the aircraft. This approach makes ATOMZA the first solution that can be deployed specifically to mitigate a drone threat without constituting an intervention requiring sovereign enforcement powers. While jammers, high-energy lasers and interceptor drones are legally restricted to authorised security authorities,
Grid Dynamics Appoints Industry Veteran Nikita Ivanov as Head of AI26.8.2026 23:05:00 EEST | Press release
Grid Dynamics Holdings, Inc. (Nasdaq: GDYN) (“Grid Dynamics”), a premier AI transformation partner for the Fortune 1000, is advancing its AI strategy under the leadership of Nikita Ivanov, Vice President, Head of AI. Ivanov is responsible for leading the transition efforts of Grid Dynamics’ clients toward an AI-native software delivery model, and he oversees all elements of Grid Dynamics AI Native (GAIN) platforms. Ivanov brings more than two decades of experience founding and leading technology companies to his role as Vice President, Head of AI. He founded and led GridGain, a distributed computing company built for in-memory data processing. During his 15-year tenure at GridGain, Ivanov also founded the natural language processing framework Apache NLPCraft and, later, Humatron AI, an AI workforce platform. He then served as Field CTO for GenAI at DataStax. That same pattern of building foundational tools now runs through Grid Dynamics’ own AI-SDLC tools, Allium, Rosetta, and SpecFlow
Arc'teryx Introduces System 0™, a New Framework for the Future of Product Design and Circularity26.8.2026 16:00:00 EEST | Press release
Arc'teryx Equipment, the global design company specializing in technical high-performance apparel and equipment, today introduced System 0™, a new framework that reimagines how products can be designed, manufactured, used, repaired, and ultimately regenerated. System 0 represents the next evolution for sustainability in the outdoor industry, as it embeds circular thinking across an entire product lifecycle while maintaining the uncompromising performance standards that define the Arc’teryx brand. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260826686539/en/ Arc’teryx athlete, Craig Murray, wearing the Sperro SV, a multisport mountain-grade hardshell built with circular design principles, available September 4, 2026. The first product being introduced as part of the System 0 platform is the Sperro SV jacket, a multisport mountain-grade hardshell engineered for durability, repairability, and disassembly at end of life – the
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