Froneri issues annual results for 2018

By Jim Cornall contact

- Last updated on GMT

In 2019, Froneri launched its new product, Nuii.
In 2019, Froneri launched its new product, Nuii.

Related tags: Froneri, Nestlé, Ice cream

The joint-venture between PAI Partners and Nestlé, Froneri, which is the world’s third largest ice cream manufacturer, has announced its annual results for the year ending December 31, 2018.

Results show group revenue growth up 3.6% to €2.6bn ($2.95bn), with global A Brands revenue up 17.9% driven by successful marketing and promotional investment and private label revenue up 13.7%, in part due to hot summer weather in Q2 2018.

The company said it increased investment in innovation and capability from €105.4m ($119.8m) in 2017 to €193.7m ($220m) in 2018.

Froneri CEO Ibrahim Najafi said, “Since our creation in 2016 we’ve worked hard to bring the Froneri family together into one winning team dedicated to producing consistently high-quality ice cream in all our markets. I’m immensely proud of our culture where we all understand what excellence looks like, and the significant progress we have made towards achieving our vision of building the world’s best ice cream company.”

Najafi said that in the last year the company has been strengthening and winning market share.

“Our employees are central to this success. Our ‘glocal’ approach empowers our people to make decisions centered around our values and culture.  We have actively worked towards leveraging and applying best practice from each country – building deep ice cream knowledge to embed the Froneri Way of Working.”

In 2019, Froneri has launched its new product, Nuii, and says it has further optimized the business including the acquisition of New Zealand’s Tip Top.

“We have a very bright future ahead and continue at pace on our journey to become the world’s best ice cream company,”​ Najafi said.

Related topics: Manufacturers, Nestlé, Ice Cream

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