Food Union Delivers Strong Results Driven by Innovation of New Products and Consumer Demand During the Pandemic
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)
Cash flow from operating activities
- 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 Head of PR
About Business Wire
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
LEO Pharma Presents Long-Term Safety and Efficacy Data for Tralokinumab in Adults With Moderate-to-Severe Atopic Dermatitis at AAD VMX 202123.4.2021 16:05:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced results on the long-term safety and efficacy profile of tralokinumab in adult patients with moderate-to-severe atopic dermatitis. Results were shared as an oral presentation during the American Academy of Dermatology Virtual Meeting Experience (AAD VMX) 2021. Tralokinumab is a high affinity, human monoclonal antibody that specifically binds to and inhibits the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms.2,3 It is an investigational therapy in clinical development, and its safety and efficacy are currently being evaluated by regulatory authorities. The interim analysis at 56 weeks in the ECZTEND trial (NCT03587805) showed tralokinumab 300 mg every other week plus optional topical corticosteroids (TCS) demonstrated long-term improvements in itch, sleep, and in atopic dermatitis signs and symptoms.1 Patients who had enrolled in pivotal Phase 3 trials ECZTRA 1 and 2 who continued into ECZTEND w
Merck Announces New Data Strengthening Evidence for Continued Safe and Effective MAVENCLAD ® Use During the COVID-19 Pandemic23.4.2021 15:11:00 CEST | Press release
Not intended for UK and U.S. based media Merck, a leading science and technology company, today announced a new analysis from the MAGNIFY-MS sub-study showing a specific immune repopulation pattern in patients with relapsing multiple sclerosis (RMS) treated with MAVENCLAD® (cladribine tablets), which may contribute to their ability to fight infections and develop protective antibodies from vaccines. The data were presented at the 2021 American Academy of Neurology (AAN) Annual Meeting that was held virtually 17-22 April 2021. In the MAGNIFY-MS study, reduction of memory B cells occurred as early as one month after MAVENCLAD initiation with lowest levels sustained for up to 12 months, while naïve B cells, which are typically required for the generation of antibody responses following vaccination, began recovering immediately. Previously shared data from MAGNIFY-MS indicated that patients receiving MAVENCLAD are able to mount responses to influenza and varicella zoster vaccines, irrespec
Xsolla Offers Exit Strategies to Game Studios for Exit Advising and Planning23.4.2021 15:00:00 CEST | Press release
Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced Xsolla Exit Strategies. The new service will connect development studios with financial and transaction advisors, guiding them through the process of selling their game property or studio, from due diligence preparation to exiting. The unveil of Xsolla Exit Strategies comes full circle from Xsolla Funding Club, launched March 2019, which provides matchmaking between vetted game projects and qualified investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005013/en/ Let Xsolla Exit Strategies match you with a financial and transaction advisor to help meet your exit goals. (Graphic: Business Wire) The gaming industry continues to flourish as demand is high for strategic partnerships and acquisitions for both game companies
Wipro Achieves Google Cloud Partner Specialization in Application Development23.4.2021 14:33:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has achieved the Google Cloud Partner Specialization in application development. This marks the fourth Partner Specialization badge that Wipro has received from Google Cloud, following recognition for outstanding cloud security, migration, and work transformation. This specialization demonstrates Wipro’s capabilities across multiple areas as a Google Cloud SI partner. As a trusted Google Cloud partner, Wipro can help customers leverage the best of Google Cloud platform as they develop and manage cloud-native business applications, enabling faster time to market, increasing scalability of applications and integrating them with external and internal systems in the IT landscape. This specialization will allow Wipro’s team of certified professionals to accelerate the customer modernization journey, increase agility and adapta
LEO Pharma Receives Positive CHMP Opinion of Adtralza ® (tralokinumab) for the Treatment of Adults With Moderate-to-Severe Atopic Dermatitis23.4.2021 13:59:00 CEST | Press release
LEO Pharma A/S, a global leader in medical dermatology, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion and recommended granting a marketing authorization of Adtralza® (tralokinumab) for the treatment of moderate-to-severe atopic dermatitis in adult patients who are candidates for systemic therapy. The CHMP positive opinion is one of the final steps before the European Commission makes its decision on the Marketing Authorization Application for use of Adtralza, an investigational therapy in clinical development, throughout the European Union. This final decision is expected in the coming months and if authorized, Adtralza will be the first fully human, monoclonal antibody available to specifically target the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms. Adtralza specifically targets IL-13 with high affinity and is developed to improve the symptoms of atopic derma
Schlumberger Announces First-Quarter 2021 Results23.4.2021 12:50:00 CEST | Press release
Schlumberger Limited (NYSE: SLB) today reported results for the first-quarter 2021. First-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 SequentialYear-on-yearRevenue* $5,223 $5,532 $7,455 -6% -30% Income (loss) before taxes - GAAP basis $386 $471 $(8,089) -18% n/m Net income (loss) - GAAP basis $299 $374 $(7,376) -20% n/m Diluted EPS (loss per share) - GAAP basis $0.21 $0.27 $(5.32) -22% n/m Adjusted EBITDA** $1,049 $1,112 $1,347 -6% -22% Adjusted EBITDA margin** 20.1% 20.1% 18.1% 0 bps 203 bps Pretax segment operating income** $664 $654 $776 1% -14% Pretax segment operating margin** 12.7% 11.8% 10.4% 88 bps 230 bps Net income, excluding charges & credits** $299 $309 $351 -3% -15% Diluted EPS, excluding charges & credits** $0.21 $0.22 $0.25 -5% -16% Revenue by Geography International $4,211 $4,343 $5,225 -3% -19% North America* 972 1,167 2,180 -17% -55% Other 40 22 50 n/m n/m $5,223 $5,532 $7,455 -6% -30%
ANAORI kakugama: The New Cooking Tool Shaking Up the Culinary World23.4.2021 12:30:00 CEST | Press release
Japanese brand ANAORI, a leader in manufacturing carbon graphite products, has developed a groundbreaking cooking tool that combines new technologies and natural materials in a unique design. In the coming weeks, renowned chefs from around the world will apply their expertise to showcase the potential of ANAORI kakugama. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005016/en/ ANAORI kakugama Watch the ANAORI kakugama video here ANAORI kakugama: The Culinary Tool Combining Tradition and Innovation The philosophy of ANAORI was born out of respect for Japanese culture, rooted in a tradition of living in harmony with nature. Naturality according to ANAORI means understanding the principles of nature without confronting it, multiplying its powers by means of minimal intervention, in order to best utilise it. The Japanese company unveils two ANAORI kakugama models in two different sizes, to cook with the rhythm of the seas
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