In 2019, Fazer continued executing its strategy and focused on its fast-moving consumer goods (FMCG) and direct-to-consumer businesses. Financially, the year was satisfactory. Net sales for continuing operations increased by 7% and the operating profit was close to the previous year’s level.
Trends are heavily shaping the world of food. Consumer lifestyles are changing at an increasingly rapid pace, and disruptive trends challenge companies. Convenience is becoming more important at the same time as companies are required to act sustainably. Consumers expect companies not only to be good at what they do, but also to do good to others - to society in general and to the environment. To be able to keep the pace in the race, we need to understand how consumer behaviour is evolving and to take action.
Fazer sold Fazer Food Services to Compass Group in January 2020, aiming to focus its efforts and to streamline its business portfolio. I wish all our former Fazer Food Services employees all the best in the future. I am convinced that employees and the business will continue to thrive and develop as part of Compass Group.
The funds from the sale of Fazer Food Services will be invested in Fazer Group’s FMCG businesses with the objectives of strengthening our position as the leading FMCG brand in Finland and our position in the Northern Europe and beyond. We will grow in on-trend categories, such as non-dairy and plant-based meals, and invest in the development and renewal of our product and business portfolio, based on deep consumer insight and research. We will become more integrated and more agile, and focus on value creation through portfolio choices, growth and operational excellence. We will place the consumer first in all our operations and leverage on our renewed brand positioning - Northern Magic. Made Real. - to be meaningfully different in the eyes of consumers.