2017 was a year of major developments for us. We created a new vision, mission and strategy to become a modern sustainable food company with a joint direction. We began successfully implementing our new strategy by, for instance, establishing a new business area, engaging in start-up and research co-operation and refreshing our offering.

Fazer Confectionery increased its comparable net sales clearly in 2017, although competition was tough, particularly in chocolate. Fazer Bakery also improved its net sales and implemented value creation actions. Fazer Food Services maintained a strong position in the Nordic countries despite increasing competition, with marginal net sales growth.

Our new business area, Fazer Lifestyle Foods, got off to a good start with the acquisition of renowned product brands, Yosa and Froosh. We also decided to establish the Fazer Retail business unit at the start of 2018 to drive value in our direct-to-consumer business.

We provided meaningful food experiences to millions. We continued to strengthen our brands and to develop new, innovative products to complement our offering. Guided by our strategy, we took a big step forward on our journey to become the Fazer of the future.