Based in Switzerland, the Bell Food Group achieved a 5% increase in net revenue for the first six months of the current financial year.
New CEO of the Bell Food Group, Marco Tschanz, described the results for the first half of 2024 as “encouraging.”
As a result of increased market share and organic growth, net revenue (adjusted for foreign exchange and on a like-for-like basis) was reported up 5.1% year-on-year at almost 2.32 billion Swiss francs (CHF; US$2.71 billion). This was despite challenging market conditions, which the company identified as growing downward pressure on sales prices, and rising costs.
Tschanz attributed the company’s progress to the consistent implementation of the business strategy, strong operating performance, and efficient cost management.
At 285,600 metric tons (mt), the group expanded its sales volume by 5.2% compared with the same period of last year, while sales revenue was 4.6% higher at CHF2.35 billion.
When adjusted for lower foreign currency gains over the latest six months, profit for the period was hardly changed at CHF45.3 million.
Improvements across all business units
All of Bell Food Group’s businesses contributed to the growth in sales in the six-month period to the end of June, the company reports.
With a net revenue of almost CHF1.12 billion, Bell Switzerland is the group’s largest division, and it achieved 4.0% organic growth compared with the same period of 2023. At 66,000 metric tons (mt), sales volume was up 2% year-on-year, demonstrating that higher raw material prices were generally passed on to the market.
Bell Foods’ international poultry business was split from its former division in June of 2024 to become an independent business area. Now named Hubers/Sütag, it continues to specialize in organic poultry production. In the reporting period, it generated an 8.9% year-on-year increase in sales volume to 82,300mt, and generated a 5.0% improvement in net revenue to CHF328 million.
As a result of the re-organization, the group’s former international charcuterie (delicatessen/cold cuts) business was renamed Bell International. At CHF250 million, net revenue for the first half of the year was 11.7% higher than the comparable period. Sales volume increased by 5.7% to 26,800mt, attributed mainly to market share gains in Germany and Spain.
The company’s other business divisions are dedicated to seafood, vegetarian products, and convenience food ranges.
More on Bell Food Group
In October of 2023, the group announced that Marco Tschanz had been appointed CEO, with effect from the retirement of Lorenz Wyss in June of this year.
Also in June, the company split off its international poultry business into a separate division.
During the most recent full financial year, Bell Food Group reported sales of more than CHF4.5 billion with a workforce of around 13,300. It sells to customers in retail and food-service, as well as other food manufacturers.
