Savencia Fromage & Dairy reports 5.1% revenue increase in its FY 2024

FRANCE – Savencia Fromage & Dairy, a dairy company specialising in cheese production, has reported a 5.1% increase in revenue, driven by strong inflation in milk prices, particularly in France.

The Group’s net income reached €107 million, representing 1.5% of revenue, up from €96.5 million (1.4%) in 2023.

The group’s organic growth increased to 3.1%, largely driven by a significant 7.8% in other dairy products, with an acceleration in the fourth quarter.

The exchange rate effect contributed positively by 0.9%, while the acquisition of Williner in Argentina contributed by 1.1% to total growth as a structural effect.

Other operating costs and income including asset impairments, costs related to optimisation projects, as well as various claims and litigation totaled €28.4 million, showing an improvement compared to 2023.

Operating profit reached €232.3 million, reflecting an increase of €19.4 million compared to last year. This evolution is the result of major achievements in mix management, effective management of inflation and improved operational competitiveness.

The general result performance was achieved despite margin pressure in a context of continued milk prices inflation and declining industrial product quotations. As a result, the Group’s operating margin improved slightly by 20bps to 3.3% compared to 3.1% last year.

Outlook for 2025

The company stated that the 2025 outlook remains marked by a volatile and uncertain environment, such as evolving consumption context and continued pressure on milk prices, combined with increased competition on different markets both in France and internationally and geopolitical tensions and potential economic paradigm shifts leading to a slowdown in global growth.

In response to these challenges, the group is pursuing a model of speciality strategy and maintaining its efforts to improve its competitiveness.

The group will keep investing to develop the complementarity of its various businesses and the growth of its brands.

To navigate market uncertainties, it will rely on the quality of its products, on strong trustbased relationships with all its partners, as well as the commitment and quality of all its teams, in line with its mission: Leading the way to Better Food.

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