Helsinki / FI. (fg) Finland’s Fazer Group is celebrating its 130th anniversary this year, is financially strong and has a clear strategy for the future. Strengthening the Fazer brand is part of the strategy implementation and supports the Group as it solidifies its position as the number one FMCG brand in Finland and continuously develops its position in the Northern European markets – the Group published in its Annual Review 2020 as follows:
«Building on Fazer’s mission Food with a purpose, the Annual Review describes the progress made in the execution of Fazer’s strategy and discusses our business and sustainability performance during 2020. The completion of the sale of Fazer Food Services at the beginning of the year allowed us to increase the focus on implementing our FMCG strategy as well as to strengthen our market positions. Despite the exceptional circumstances brought on by the COVID-19 pandemic, our overall business performance was good, and we succeeded in achieving several significant milestones in our strategy, in which innovations and foodtech play an important role.
«Our focus on innovations was recognised during the year: Fazer’s new xylitol factory exemplifying our work to promote circular economy was awarded with the Finnish Star Act 2020. The factory is unique as it utilises oat hulls that are generated as side stream of the oat milling process, to produce xylitol with state-of-the-art technology. Another awarded Fazer innovation was the nutritious novelty Oat Rice which was recognised with the Swedish Food Award 2020. Both innovations demonstrate our commitment to sustainability, which is an integral part of Fazer’s strategy. We will continue developing the sustainable food solutions of the future to benefit both people and the planet.
«Our vision is to build an emotional bond with the consumers as we work towards being present in all the memorable moments that can make a perfect day. Our brand promise Northern Magic. Made Real. defines us and our strong relationship with consumers.
«As part of our Annual Review process we also renewed our visual identity. The new Fazer pattern is based on elements representing our businesses and it honours the northern design language with a sophisticated and simplistic style. The family which we introduced last year in the Annual Review’s visual storyline has adopted to the changes in everyday life brought by the pandemic.
«The Annual Review includes a business and sustainability review, a Corporate Governance statement, the Board of Directors’ report and, in a separate document, the Financial Statements 2020.»
The Group’s graphically enhanced Annual Review and Financial Statements can be found at fazer.com.
In case readers don’t want to read the colorful version, but want to stick to sober numbers and tables: Please go to the summary of the consolidated financial statements, which were prepared in accordance with the IFRS International Financial Reporting Standards, published on bakenet:eu on February 22, 2021.