St. Petersburg / RU. (eb) Fazer’s revenues in Russia in 2020 were 12.7 billion RUB according to Russian accounting – 164.1 million EUR according to the international financial reporting system IFRS. In 2020, the company strengthened its leadership in the fresh packaged bread and frozen dough category and continued its successful development in the frozen bread and bakery segment.
«The pandemic, which began in spring 2020, was a test for businesses’ ability to adapt to change. In Russia, during the pandemic year we developed online sales and opened our own online store, introduced a new category of baked goods at home with Pro-Bake technology, which allows you to bake bread and pastries without defrosting, and increased our market share in Moscow and St. Petersburg. We strengthened our leadership position in the bread industry, and in local currency according to standard international reporting our revenue grew by 0.5 percent in 2020, but the weakening of the Ruble, the pandemic and the associated decline in purchasing power and the increase in prices for basic ingredients and materials certainly had an impact on the year’s results,» – commented Vladimir Kalyavin, General Director of Fazer Russia, the unique dynamic during 2020.
The profit of the Russian division of Fazer in 2020 was 384 million RUB – approximately 4.22 million EUR according to Interbank on 2021-04-16.
The company’s total investments in Russia in 2020 amounted to 308 million RUB – approximately 3.39 million EUR according to Interbank on 2021-04-16.
In 2020, Fazer continued to invest in new product development, modernization of its production facilities in Moscow and St. Petersburg, and sustainable development. «Fazer is committed to reducing food waste and promoting responsible consumption. At the end of 2020, the company introduced a new «Good To» label with an expiration date on the bread. This initiative will help millions of people plan their purchases and reduce food waste at home. The «Goodbye to» sticker encourages recycling and is made of the same material as bread packaging, polypropylene, so it can be recycled without tearing off the sticker. The company also increased its recycling rate by 5 percent over 2019.
«In 2021, Fazer will continue to modernize its manufacturing sites and invests in capacity, innovation and sustainability. We will maintain our focus on the needs of our customers, which have changed in the pandemic and will likely continue to change this year, shaping new trends. We will continue to develop products that will be relevant in the new situation,» explained Vladimir Kalyavin. Fazer Russia is part of Finland’s Fazer Group. Group sales in 2020 were around 1.1 billion EUR. The Group employs almost 8,500 people. Of these, Fazer Russia has a good 2,300 employees.
The company OAO Fazer belongs to the Finnish Fazer 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. The group was founded in 1981 by Karl Fazer and is represented in eight different countries: Finland, Norway, Sweden, Denmark, Estonia, Latvia, Lithuania, Russia. The best-known bakery brand in Russia is Chlebnij Dom, originally an independent company bought by Fazer in 1997. Since 2012, Chlebnij Dom has existed only as a brand. Fazer has a very large assortment and offers both traditional products, such as Borodinsky bread, and specialized baked goods, such as Jagodnoe Lukoshko. Very good distribution chains, as well as a strong position in the modern retail market, have contributed enormously to the company’s success, as well as to the increase in brand awareness. In 2012, the turnover of OAO Fazer amounted to RUB 12.75 billion. At first glance, this is not very different from the 2020 result. In terms of changes in consumer behavior from 2012 to 2020, the assessment is quite different.
