First half of 2017 – summary
The half-year result of 2017 shows that the HOCHDORF Group has taken the right approach with its strategy of forward integration. In the first half of the year, the Pharmalys Group further increased its net sales and income figures. By contrast, the volumes in the Swiss Baby Care business declined slightly.
In the Dairy Ingredients Division, the product prices recovered to different extents. In the EU, milk fat prices climbed to a record high. However, the prices of milk protein powder and skimmed milk powder only increased moderately. As a whole, the market for milk mass products remained difficult. The development of milk powder speciality products continued. In the Cereals & Ingredients Division, Marbacher Ölmühle GmbH performed very well, achieving significant net sales growth. The activities for healthy products in the Kids' Food segment and for the purpose of launching the diabetic chocolate have been intensified.
In the first half of the year, HOCHDORF processed 377.6 million kg of milk, whey, cream, etc. (previous year: 415.9 million kg; −9.2 %) and sold a total of 111,948 tonnes of products (previous year: 125,604 tonnes; −10.9 %). The Group generated gross sales revenue of CHF 312.1 million (+12.1 %). Thanks to the Pharmalys income, the EBIT climbed to CHF 15.8 million (previous year: CHF 13.1 million). The EBIT margin amounted to 5.0 %, i.e. less than the communicated target range of 6.1 to 6.6 % for the year. Due to the well-filled order books in the Baby Care Division, we are not adjusting this annual target.