Babybel parent Bel Group has posted year-on-year organic sales growth of 3.4%, to €3.74 billion, in its financial year 2024, as dairy product volumes returned to growth across all main markets where the company operates.
Bel Group added that it saw notable improvement in the United States, particularly for the Mini Babybel, Boursin, and Kiri brands.
In Europe, the fruit snack segment saw significant sales growth driven by France, while China reported a double-digit increase.
The company's distribution channels, e-commerce and out-of-home (OOH) also reported a fourth consecutive year of robust growth.
Cécile Beliot-Zind, chief executive officer of the Bel Group, commented, “2024 was a remarkable year for our group, both in terms of the growth results achieved and the transformations undertaken. [...]
“2024 was also a pivotal year for our strategic transformation projects, from strengthening our industrial assets to accelerating innovation, expanding digitalisation, and leveraging AI. All this provides a vital foundation for us to invest even more in our ambition to offer ever healthier and more responsible food.”
The company's recurring operating income for the financial year amounted to €253 million, up 1.1% year on year, while recurring operating margin stood at 6.8%.
Performance By Category
Bel Group's mature categories segment reported organic sales growth of 3.4%, including a 4.3% increase in volume/mix effects, driven by particularly strong momentum in North America with the Mini Babybel and Boursin dairy brands reporting good performance.
In Europe, the Mini Babybel and The Laughing Cow brands reported robust growth, especially in the United Kingdom.
In France, The Laughing Cow returned to its traditional recipe and implemented marketing partnerships, most notably with the Tour de France.
Mixed performance was seen in the company's North Africa and Middle East region with strong momentum for core brands, especially Kiri in Gulf Cooperation Council (GCC) countries.
Bel Group's new categories segment registered organic growth of 3.7% driven by its fruit-based food business and robust growth in China.
In India, Bel continued to expand its market reach through a strategic partnership with Britannia.
Outlook 2025
Bel Group anticipates an uncertain and volatile 2025 with the return of increased inflation making consumers more sensitive to prices.
The company will continue with its investment strategy to ensure the sustainability of its business model combining profitability and pursuing its trajectory of diversification.
It will invest in its core brands to support their development and make these products accessible to as many consumers as possible.
In 2025, Bel plans to extend its employee shareholding programme to new countries.
