SWITZERLAND, Basel. High costs weigh on the Swiss meat group.
Bell Food Group turned over 2.1 billion Swiss francs (CHF) in the first six months of the current year, up 6.1% from the same period last year. The Basel-based company says the growth was due to the recovery of its convenience business, increased capacity utilization at its Marchtrenk, Austria, plant, and inflation-related price increases.
However, the latter was not enough to offset the high increase on the cost side, it adds. As a result, adjusted EBIT (earnings before interest and taxes) was CHF 63 million, 4% below the previous year. At the same time, Bell is thus above the last pre-Corona result from 2019 (CHF 58 million). The "unfavorable foreign currency development" had pushed the adjusted half-year result to CHF 40.2 million, down 21.3%.
While business in the home market of Switzerland was down slightly by 0.7%, revenue abroad (Bell International) developed positively by 11%. The Iceberg (plus 17.6%), Hilcona (plus 15.1%) and Hügli (plus 10.7%) divisions, which were bundled in the Convenience division until May of this year, also reported significant increases in merchandise sales.
Source: lebensmittelzeitung.net, afz - allgemeine fleischer zeitung 31/2022 / dfv Mediengruppe