In 2022, the fenaco cooperative achieved the highest net sales since its foundation with CHF 8.06 billion. At CHF 138.4 million and with a return on sales of 1.7 percent, the operating result (EBIT) is also convincing and, as expected, back at the level achieved before the extraordinary pandemic years. The agricultural cooperative can thus look back on a positive financial year overall in its 30th anniversary year.
Distortions on the international procurement markets due to the Ukraine war, persistent supply bottlenecks as a result of the Corona pandemic and the threat of an energy shortage influenced the fenaco cooperative's 2022 financial year. Net sales rose by 9.2 percent year-on-year to CHF 8.06 billion, the highest net sales in the cooperative's 30-year history. The main drivers were the agricultural and energy businesses. In addition to price effects, the photovoltaic sector in particular developed positively. In the food industry, the upward trend following the pandemic continued. The retail trade was able to virtually maintain the high level of the Corona years.
Pierre-André Geiser, Chairman of the Board of Directors of fenaco Cooperative & Martin Keller, Chief Executive Officer of fenaco Cooperative
'Unbroken trend towards a balanced, healthy diet'
After the two extraordinary pandemic years, sales in the fruit, vegetable and potato sectors have returned to pre-Corona levels. "Rising costs along the entire value chains, especially in the areas of energy, transport, packaging materials and personnel, are a major challenge for the entire fruit, vegetable and potato sector. However, in view of the general market development in Switzerland, and the unbroken trend towards a balanced and healthy diet is positive," said Chris Consoni, Head of the Food Industry Department at fenaco, when asked by FreshPlaza.
Organic growth slows, convenience continues to gain importance
Self-sufficiency levels for the most significant major commodity groups in fruits, vegetables and potatoes are basically stable, he said. "The biggest factor influencing self-sufficiency is weather and the associated crop fluctuations. Looking at the organic market, we note that the upward trend is slowing somewhat in 2022 after years of strong growth. In contrast, the shortage of skilled workers in the Swiss catering industry is boosting demand for convenience items. The focus here is on the well-known leader items, such as frozen French fries, frozen spinach and frozen beans." Overall, sales in the convenience sector increased from CHF 381 million to CHF 435 million.
"In addition, Swiss consumers traditionally pay very close attention to the domestic and, where possible, regional origin of fruits, vegetables and potatoes. This trend applies to the whole of Switzerland, with no significant differences between the language regions and the cantons," Consoni describes.
Security of supply: balanced supply of fruit and vegetables, undersupplied potato market
Despite numerous challenges, the supply of domestic products was maintained overall. In the vegetable, stone fruit and table fruit sectors, demand was met with balanced supply volumes. Only in the case of potatoes were the quantities insufficient to supply the markets accordingly. "The 2022 agricultural year was characterized by heat and drought, but fruit and vegetable yields were better than in the cool, wet previous year. The potato harvest, on the other hand, was below average and the summer heat had a negative impact on the storability of the produce," summarized CEO Martin Keller.
Highlights of the past year: vertical farming & expansion of organic expertise
Several pilot projects and innovations were realized in 2022. At the beginning of 2022, for example, the vertical farming pilot plant of the Yasai company in Zurich was put into operation (FreshPlaza reported). Herbs for selected Coop stores are now produced here. The double acquisition of the established companies Green Pack Swiss and Bio Pack Swiss has significantly expanded organic expertise in the fruit, vegetable and potato sectors.
The current fiscal year is of course marked by the 30th anniversary, which will be celebrated with a three-part anniversary program.
For more information:
fenaco Genossenschaft
Erlachstrasse 5
Postfach 3307
3001 Bern
T: +41 58 434 00 00
www.fenaco.com