Dairy group Cremo again in deficit
Published: Thursday, May 16th 2024, 13:20
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The Fribourg-based dairy group Cremo once again closed the 2023 financial year with a deficit. At CHF 20.3 million, the net loss was only slightly below the previous year's CHF 21.5 million.
"The loss is of course too high," said Chairman of the Board of Directors Georges Godel in a press release issued on Thursday. However, it is significantly lower than in the previous year if you take into account the extraordinary income of CHF 11.8 million from the sale of the Steffisburg site in 2022.
Last year, Cremo achieved sales of CHF 525.2 million. This corresponds to an increase of 12.3 million Swiss francs. The gross margin improved by eight percent and adjusted operating profit before depreciation and amortization (EBITDA) rose by 350 percent to CHF 8.7 million.
Godel was confident that Cremo would be back in the black by 2026 at the latest. The 2023 financial year was a year of "metamorphosis". Cremo is the second-largest milk processor in Switzerland.
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