London / UK. (fnr) «Froneri», an international fast-growth ice-cream company, announces its annual results for year ended 31 December 2018. The joint venture in ice cream, frozen food and chilled dairy between Swiss Nestle S.A. and PAI Partners reports solid revenue growth. A significant investment programme continues. Summary:
- Solid Group revenue growth up 3.6 percent to EUR 2.6 billion (2017: EUR 2.5 billion)
- Global A Brands revenue up 17.9 percent driven by successful marketing and promotional investment
- Private label revenue up 13.7 percent supported in part by hot summer weather in Q2-2018;
- Significant investment in innovation and capability at EUR 193.7 million (2017: EUR 105.4 million)
- Optimised performance by introducing the latest technologies available in the international market with 12 new lines established
- Successful leverage of international scale by launching A Brands into new markets
- Mondelēz now available in 17 countries
- Extrȇme roll-out to UK and Spain
- Successful rejuvenation of well-loved local jewels, for example the relaunch of Mövenpick in Germany
- Post-merger integration largely complete, ensuring consistent high-quality products and replicable processes
Chief Executive’s Commentary
Commenting on the annual results, Froneri CEO Ibrahim Najafi said: «Since our creation in 2016 we’ve worked hard to bring the Froneri family together into one winning team dedicated to producing consistently high-quality ice cream in all our markets. I’m immensely proud of our culture where we all understand what excellence looks like, and the significant progress we have made towards achieving our vision of building the world’s best ice cream company.
«In the last year we have been strengthening the fundamentals we have in place and we’ve been winning market share. Our employees are central to this success. Our «glocal» approach empowers our people to make decisions centred around our values and culture. We have actively worked towards leveraging and applying best practice from each country – building deep ice cream knowledge to embed the Froneri Way of Working.»
The positive momentum has continued into 2019, with the launch of Nuii supported by international advertising campaigns, the further optimisation of the business and a number of significant strategic developments including the acquisition of New Zealand’s Tip Top.
«We have a very bright future ahead and continue at pace on our journey to become the world’s best ice cream company.» Concludes Najafi.
Froneri is a fast-growth international business with a vision to build the world’s best ice cream company. A passionate challenger brand, we are building the market through a focus on ice cream, delivering value for retailers and consumers. Created in 2016 as a joint-venture between PAI Partners and Nestlé, the company the second largest manufacturer of ice cream in Europe, the third largest worldwide and the number one private label producer worldwide. We are present in more than 20 countries with revenues of EUR 2.6 billion (2018) and more than 10,000 employees worldwide.