Stiff competition in Finland; Russian sales up 43%
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Valio Group net sales for 2010 increased by 2% to 1,823 million euros. International operations grew by 18%, while domestic net sales decreased by around 5%.
64% of net sales were generated in Finland where Valio is the market leader in the key dairy product groups.
Competition in the Finnish dairy product market continued to be stiff in 2010. Imported cheeses accounted for 36% of consumption, and the share of imported yoghurts rose to around 30%.
Valio’s investments totalled 68 million euros and profit after taxes stood at 39 million euros. The asset/equity ratio rose to 45%.
The majority of growth in international sales came from Russia and Sweden.
Valio net sales in Russia increased by a record-breaking 43% to 283 million euros, and in Sweden by 29% to 66.5 million euros. Sales volumes increased, as did the value of sales which benefited from the positive exchange rate development.
In Estonia, Valio is a major player in fresh dairy products and the biggest cheese producer.
Globally Valio invests in the commercialisation and market-specific conceptualisation of health and well-being products such as functional lactic acid bacteria LGG® and lactose free items, and invests in ingredients sales which accounted for 11% of Valio Group net sales.
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In November 2010, Valio ran a campaign it named “Lupaa hyvää” (Make a good promise) initiated through collaboration with TV show Diili (The Apprentice). The goal was to promote Finns’ well-being and the campaign was publicised on Valio’s milk cartons and website.
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