Savencia Fromage & Dairy has reported 5.1% year-on-year growth in consolidated sales, to €7.1 billion, in its financial year 2024.
Savencia Fromage & Dairy noted that this growth was achieved amid high inflation in milk prices, particularly in France.
Sales increased by 3.1% on an organic basis, driven by its other dairy products division which registered organic growth of 7.8%.
This growth was driven by positive dynamics in international markets and the development of activities in Europe, Savencia Fromage & Dairy noted.
The increase in prices, particularly butter compared to 2023, also created a positive price effect, especially in the second half of the year.
The sales of cheese products declined slightly at constant scope and exchange rates, despite seeing marginal organic growth of 0.5%, excluding the exchange rate effect.
The company attributed this almost flat sales figure due to a decline in volumes driven by high inflation and a favourable price/mix effect.
ESG Performance
Savencia Fromage & Dairy continued to build its global performance model and continued to implement its projects in both social and environmental fields.
The company focused on reducing water consumption and Greenhouse Gas (GHG) emissions by constructing roadmaps in line with the group's SBTi 1.5° pledge.
In October 2024, the group signed a partnership in France with Agrial Cooperative to improve the environmental footprint of upstream dairy within a value chain logic.
In November of last year, Greenpeace accused the meat and dairy industries of producing emissions equivalent to that of the fossil fuel sector.
According to a study by Greenpeace Nordic, the estimated emissions of 29 meat and dairy companies rival those of the 100 biggest corporations in fossil fuels, however it also suggested that 'systematic changes in production and consumption' could have a significant effect in addressing this.
