HKScan has booked a drop in first-quarter operating earnings as cost savings failed to offset weak demand and price pressure.

The group said EBIT fell by almost 170%, dropping to a loss of EUR17.5m from a loss of EUR6.5m in the comparable period of last year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

CEO Hannu Kottonen said that the “dissatisfying result” showed that cost-savings were unable to offset margin pressure from lower prices and sales volumes. Total sales value was down 8.2% in the three months to end-March.

The company did however stress that progress is being made on its turnaround initiatives. During the period HKScan restructured some of its sourcing agreements and established a group structure and brand identity.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now