SWITZERLAND, Basel. The Bell Food Group posted an encouraging improvement in performance in the first half of 2021: year-on-year, adjusted sales revenue rose to CHF 2.1 billion (+2.7 %) and EBIT to CHF 65.7 million (+10.5 %). The adjusted half-year profit amounts to CHF 51.0 million (+46.1 %).
Although the situation has become increasingly normal since May 2021, the coronavirus pandemic had a material impact on the half-year results. The retail channel in Switzerland continued to do well, with the gradual easing of the coronavirus measures and the return of shopping tourism exerting a growing influence.
Following the coronavirus-related slowdown, the food service and fresh convenience segments have been showing clear signs of recovery since May 2021. The vegan meat alternative range “The Green Mountain” is still growing strongly. In tandem with the half-year report, the Bell Food Group is publishing its second sustainability report compiled in accordance with the GRI standard.
The Bell Food Group repeated the success of the 2020 financial year and once again posted a substantial improvement in results for the first half of 2021. Adjusted sales revenue rose by 2.7 percent to CHF 2.1 billion.
Lorenz Wyss, CEO of the Bell Food Group, identifies the “strong core business with meat and meat products in the Swiss retail market” as the main driver of this positive development. Wyss is also pleased that success is not limited to single segments, but that all business areas performed well and contributed to the successful half-year results.
The Bell Food Group improved its adjusted half-year profit for 2021 by CHF 16.1 million (+46.1 %) to CHF 51.0 million. This growth in profit is supported on the one hand by the higher added value created by changes to the mix of customers and product ranges, and on the other by the positive foreign currency performance posted by the Group.
The food service sales channel and to-go product ranges suffered in Switzerland as well as in Europe. Towards the end of the first half, the easing of the coronavirus measures helped the food service and convenience ranges to recover and made it possible for the business area Convenience in particular to start growing again.
The business area Bell International continued its positive development thanks to the contributions of the successful poultry business in Austria and Germany and the Serrano ham and diced ham business. The important fresh convenience segment showed clear signs of recovery. The progressive opening of the food service segment and growing mobility since May 2021 also improved the situation.
Business with plant-based meat alternatives once again grew strongly in Switzerland and Germany in the first half of 2021. The range of “The Green Mountain” products produced in Switzerland was expanded. In addition to burgers, mince and meatloaf, it now also includes sausages and the first plant-based steaks in Switzerland. In September, a new product group will be added in the form of vegan chicken breast fillets.
The Bell Food Group is expecting the trend towards normalisation in the coronavirus pandemic that emerged in the second quarter of 2021 to continue. CEO Lorenz Wyss is looking to the immediate future: “This means a move away from retail and towards food services and industry again on the part of customers and product ranges.” Wyss expects the business area Bell International to continue its positive development in the second half of 2021, provided that procurement prices for raw and other materials return to normal levels again.
In tandem with the half-year report, the Bell Food Group is publishing its second sustainability report prepared in accordance with the GRI standard. The report follows the standards of the Global Reporting Initiative (GRI) and contains comprehensive information about the objectives, measures and projects relating to the three pillars “products and procurement”, “environment and resources” and “employees and society”. The report can be downloaded at www.bellfoodgroup.com/en/downloads.