HKScan held its Annual General Meeting is being on April 11 in Turku, Finland. CEO Tero Hemmilä presented shareholders with HKScan’s 2018 financial results and described the company’s current status, measures for financial recovery and the ongoing strategy process.
Hemmilä noted that in 2019 HKScan will focus on balancing the company’s finances. In the center of the work aiming to improve profitability are following: active and local management of the entire meat value chain, emphasis on local profit responsibility, putting customers at the core of the company's operations and restoring brand leadership in selected product categories.
As previously communicated, HKScan is currently renewing its strategy and redefining the related focus areas. Hemmilä says that while the company is redefining its long-term targets, management is ensuring the implementation of short-term corrective measures.
“We consider the poultry and meal businesses to be the strategic development growth directions for HKScan’s business. In red meat we are pursuing a more proactive development approach than before, and we aim to maximize the potential that our sustainability work brings. We are openly examining also our role and share in the consumer’s diet. In addition to defining the growth directions, key strategic assessments are related to the company’s structure, within which framework we are also looking at positioning of different market areas as part of the Group’s business operations,” Hemmilä states.
HKScan’s strategy work will advance throughout spring and summer. The company’s first-quarter 2019 results will be published on May 8.
Tero Hemmilä’s presentation is available at www.hkscan.com.