Swiss dairy group Emmi today (26 March) booked an 8% increase in profits for 2013 as acquisitions helped drive bumper overseas sales growth.
Net profit, adjusted for gains from the disposal of fixed assets, was up 8.1% at CHF97.6m (US$110.1m). EBIT grew 9.4% to CHF160m.
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Profit margins were unchanged. EBIT margin in 2013 stood at 4.9%, while net profit margin reached 3%.
Emmi published its sales numbers last month. Net sales grew 10.6% last year to CHF3.3bn. The Caffe Latte owner said sales outside Switzerland jumped 26% in 2013 to CHF1.44bn. Acquisitions contributed 23 points of that growth. On an organic basis, sales were up 2%.
Sales in Switzerland rose 1.1% to CHF1.86bn.
CEO Urs Riedener said: “After a subdued first half, Emmi put on a real spurt in the home straight. Emmi is moving with vigour in the right direction with its strategy.”
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By GlobalDataEmmi expects group sales to rise 3-4% in 2014, with domestic sales increasing by “up to 1%” and international sales growing 6-8%.
It forecast EBIT of CHF155-170m and a “stable” net profit margin of “around” 3%.
Shares in Emmi were up 2.46% at CHF312.25 at 11:24 CET.
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