Fazer Group: suspends exports to Russia

Helsinki / FI. (fg) Fazer Group suspends all exports of its products from Finland to Russia. Fazer’s exports to Russia have comprised of confectionery and milling products with total annual net sales of approximately EUR 12.5 million. «Fazer strictly condemns the war in Ukraine and suspends all exports to Russia», Christoph Vitzthum, President and CEO, comments. Fazer continues to actively monitor the situation and the development of sanctions and countersanctions, and to comply with all applicable laws, regulations and sanctions – the Group announced in its short statement.

Addendum: In 2021 consolidated net sales of the Group increased by 4 percent to 1,139.8 million EUR (2020: 1,101.2) following strong sales growth in Fazer Confectionery. In Russia the company OAO Fazer belongs to the Group and is the largest manufacturer of baked goods in Russia. Its manufacturing plants – four in St. Petersburg and one in Moscow – produce over 300 different products. In 2021 OAO Fazer generated net sales of 157,4 million EUR – plus six percent versus 2020 (147,9 million EUR). In the past years Fazer continuously invested in new product development, modernization and sustainable development.