Emmi Group, the owner of the Onken brand of big-pot yoghurts, has credited its international divisions and the strong performance of its Caffè Latte flavoured milks with a 1.4% sales boost over the past year.
The Swiss dairy company said it generated CHF2.72bn (£1.88bn) in net sales last year, up slightly from CHF2.7bn in 2010. Its Swiss division saw net sales decline by 2.1% year-on-year, but sales for its international business rose by almost 11% over the period.
Emmi said international sales had come in “at the upper end of our expectations” and were largely down to the “outstanding performance” of its latest acquisitions, including Onken and Italian desserts business A-27, as well as “improved sales” of Caffè Latte.
“Given the extremely challenging environment, the result is an impressive one,” said Emmi chief executive Urs Riedener. “I am particularly pleased by the outstanding performance of our most recent acquisitions. Our carefully considered acquisition strategy is paying dividends.”
Although net sales across the group rose by 1.4%, organic growth – that is, sales minus the positive effects of currencies and acquisitions – fell by 1.9% in 2011. Emmi blamed the “adverse economic environment” for the drop and said it had decided to “stabilise earnings by not aiming for short-term growth”.
Emmi acquired Onken from Dr Oetker in November 2010.