Germany: Dr. Oetker reports “solid” results for 2015
Dr. Oetker, the Germany-based multinational food producer, described its performance as "solid" as it released its trading statements for the past financial year.
Total revenues for the group increased to €2.37 billion ($2.72 billion), or 1.4% on an organic basis, excluding consolidation and currency effects. This same underlying growth figure of 1.4% applied to both domestic sales - which increased to €716 million (€822 million) - and overseas sales, which rose to €1.66 billion ($1.90 billion).
At the category level, the company pointed to positive performance in areas such as staples, frozen pizza and fresh foods, as well as its Professional division, in what it termed a "competitive" environment.
Commenting on the results, Dr. Oetker CEO Richard Oetker said: "Dr. Oetker's overall growth in 2015 was driven both by acquisitions and organic growth. In financial terms our performance was solid. Now with investment in research & development we are laying the foundations for future growth. On top of this, we have set a clear path for the future through the success of our acquisitions".
Source: Dr. Oetker