An increase in exports boosted the performance of Italian confectionery producers Maina, Bauli, and Balocco during financial year 2019, according to reports.
For festive cake maker Maina, the UK and US markets were key in driving exports of panettone and pandoro, it said. In the UK alone, demand for its cakes saw a 15% year-on-year increase in sales.
In 2019, Maina also started distributing its products in all 50 US states, a market that has led to 5% growth in annual sales. The company is also expanding its presence in Australia and Spain.
According to CEO Marco Brandani, Maina's overall sales from exports in 2019 are expected to surpass 2018's 16% increase.
Positive Year For Bauli
Elsewhere, Verona-based confectioner Bauli closed the financial year 2018-2019 with a turnover of €493 million, up 3.3% year-on-year, and 7.2% growth in net profit, of €11 million.
The group confirmed its leadership in the festive segment with a 38.3% market share in Christmas products, while its Alemagna and Motta brands celebrated 100 years in business.
Although Italy continues to be the brand’s main market, foreign markets accounted for 15% of its turnover.
The company markets its products in around 100 countries across the world, and has further developed its presence in India, where it opened a factory in 2017.
As well as festive products, Bauli also owns the popular Bauli, Motta, Doria, and Bistefani brands. It is focusing on introducing new SKUs in the area of wellness, gluten- and lactose-free products, and introduced the first lactose-free pandoro last year.
Growth Target
Separately, bakery giant Balocco has forecast a year-on-year growth of 2% in Italy and 11% in foreign markets for the financial year 2019.
In 2018, the Fossano-based company reported a turnover of €185 million.
The company recently invested €30 million in a logistics centre near its Fossano plant, as well as on the development of innovative products for foreign markets.
The confectioner has launched three new wholemeal shortbreads to cater to consumer demand for healthy food items.
These include Le Saracene, made with buckwheat, chocolate chips, and cane sugar; Le Rusticotte, which boasts five different cereals; and Le Gemmole, which contains sprouted cereals such as wheat, buckwheat, and cane sugar.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
