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USA 09.02.2024

Savencia: 2023 consolidated sales, at € 6,791 million, were up +3.7%

Source: The DairyNews
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Savencia Fromage & Dairy Reports Resilient Growth Despite Economic Challenges in 2023, Dairynews.today writes.
Savencia: 2023 consolidated sales, at € 6,791 million, were up +3.7%
Savencia Fromage & Dairy, a leading player in the global dairy industry, demonstrated resilience in the face of economic challenges, reporting consolidated sales of €6,791 million at the end of December 31, 2023, marking a 3.7% increase. This growth, amounting to €240 million, resulted from robust organic growth of +11.6% and a structural effect of +2.1%, primarily attributed to the consolidation of Williner's activities from April 1st, 2023.

However, adverse currency changes, particularly the devaluation of the Argentine peso and fluctuations in Chinese, Russian, and North American currencies against the euro, had a significant impact with a -10% change effect.

Cheese Products Sales Soar by +8% Like-for-Like: Despite economic challenges, Savencia experienced an 8% increase in like-for-like sales for cheese products. This growth was driven by strategic price adjustments across markets to address inflation and resilient volumes, showcasing the strength of Savencia's specialties model in the face of purchasing power tensions, company reported.

Other Dairy Products Register a +17% Surge: Sales of other dairy products witnessed a remarkable 17% increase, attributed to strong volume performance in select countries, especially within the recovering foodservice sector. Price effects on part of the portfolio helped counteract the negative impact of declining industrial product prices globally in 2023.

Despite economic headwinds, Savencia Fromage & Dairy's strong performance, coupled with its unwavering commitment to CSR, positions the company as a resilient and socially responsible player in the dairy industry, company reported.
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February 2024
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