Froneri's revenue in 2023 amounted to €5,292 million
Source: The DairyNews
As stated in the company report, Froneri's revenue in 2023 amounted to €5,292 million.
Froneri Achieves Record Sales and EBITDAE in 2023, Driven by Brand Strength and Product Innovation, reported Froneri.
Froneri has reported an exceptional year in 2023, achieving record sales and EBITDAE, thanks to a strategic focus encapsulated by the mantra: Sell More, Buy Better, and Take Costs Out. Patrice Bula, Chairman of Froneri, highlighted the key role of product innovation in hand-held and premium ice creams in driving robust sales growth and expanding market share, despite challenging economic conditions.
The company has seen substantial progress in its major factory transformation program in the US, now in its third year. By the end of 2023, Froneri had invested a cumulative $738 million in capital expenditures since acquiring its US operations. These investments have primarily enhanced production capacity and efficiency, enabling the company to meet customer demands more effectively and improve service levels. Notably, 30 out of 39 production lines were operational by year-end, with the remainder expected to come online in the first half of 2024.
2023 also marked the first full year of the US division operating on the Group’s common IT platform, transitioning smoothly from the legacy system in December 2022 with minimal disruption to the business.
Froneri’s revenue growth of 8.5% in 2023, adjusted for like-for-like foreign exchange rates, surpassed the overall retail market growth of 7.2% in its operating regions. The company has not only strengthened its leading market share position in the crucial US market but also seen significant growth in its A-brands, including Häagen-Dazs, Extrême/Drumstick, Mondelēz, Nuii, and Outshine. These brands have been strategically grouped into five scalable premium and snacking global platforms, supported by substantial marketing investments.
The launch of Mondelēz brands in the US on January 1, 2022, has been particularly successful, establishing a $230 million ice cream brand centered around Oreo. Looking forward to 2024, Bula is optimistic about Froneri’s continued growth in sales and profitability, particularly as the US transformational investments wind down.
With Euromonitor forecasting a 5.5% CAGR in the global ice cream market from 2023 to 2027, Froneri aims to lead the charge, especially in the premium and snacking segments. CEO Froneri Patrice Bula credits the company’s success to its 12,420 employees and reaffirms Froneri's commitment to its core values and goal of becoming the world’s best ice cream company.
Froneri has reported an exceptional year in 2023, achieving record sales and EBITDAE, thanks to a strategic focus encapsulated by the mantra: Sell More, Buy Better, and Take Costs Out. Patrice Bula, Chairman of Froneri, highlighted the key role of product innovation in hand-held and premium ice creams in driving robust sales growth and expanding market share, despite challenging economic conditions.
The company has seen substantial progress in its major factory transformation program in the US, now in its third year. By the end of 2023, Froneri had invested a cumulative $738 million in capital expenditures since acquiring its US operations. These investments have primarily enhanced production capacity and efficiency, enabling the company to meet customer demands more effectively and improve service levels. Notably, 30 out of 39 production lines were operational by year-end, with the remainder expected to come online in the first half of 2024.
2023 also marked the first full year of the US division operating on the Group’s common IT platform, transitioning smoothly from the legacy system in December 2022 with minimal disruption to the business.
Froneri’s revenue growth of 8.5% in 2023, adjusted for like-for-like foreign exchange rates, surpassed the overall retail market growth of 7.2% in its operating regions. The company has not only strengthened its leading market share position in the crucial US market but also seen significant growth in its A-brands, including Häagen-Dazs, Extrême/Drumstick, Mondelēz, Nuii, and Outshine. These brands have been strategically grouped into five scalable premium and snacking global platforms, supported by substantial marketing investments.
The launch of Mondelēz brands in the US on January 1, 2022, has been particularly successful, establishing a $230 million ice cream brand centered around Oreo. Looking forward to 2024, Bula is optimistic about Froneri’s continued growth in sales and profitability, particularly as the US transformational investments wind down.
With Euromonitor forecasting a 5.5% CAGR in the global ice cream market from 2023 to 2027, Froneri aims to lead the charge, especially in the premium and snacking segments. CEO Froneri Patrice Bula credits the company’s success to its 12,420 employees and reaffirms Froneri's commitment to its core values and goal of becoming the world’s best ice cream company.
