In 2020, we focused on strategy implementation across all our businesses, and functions.

Despite the exceptional circumstances caused by the COVID-19 pandemic, our overall business performance was good. Ensuring the health and safety of our personnel during the COVID-19 pandemic was of utmost importance. We took decisive actions to secure our ability to operate and execute normally in all our production sites, in all countries. 

The completion of the sale of Fazer Food Services at the beginning of the year allowed us to increase the focus on implementing our FMCG strategy and its execution as well as to strengthen our market positions. 

We acquired Vuohelan Herkku, a Finnish company with expertise in gluten-free baking. The acquisition allowed us to further strengthen our market position in Finland as one of the biggest players in the gluten-free market. 

The construction of our new xylitol factory, which turns nonedible side streams from oat milling into high value products, progressed as planned. The investment exemplifies our work to promote circular economy. 

Our company values were aligned with our brand promise and our behaviours were renewed. Fazer’s new values are Northern Liberty, True Relationships and Fearless Creativity, and we make them come to life in everything we do.  

The strategic partnership with Solar Foods continued. Fazer is the company’s largest shareholder. To further accelerate our growth, we strengthened our consumer centric approach in order to be even more meaningful and relevant to consumers. We closely study changes in the consumer habits to answer to evolving product and service demand. 

Ongoing turnaround programmes in Fazer Bakery Sweden and Russia progressed successfully with a positive impact on profitability.  

We launched innovative novelties across our categories, including the dairy-free OatChoco chocolate, the Kiireetön family of premium-quality bake-off breads and the Oat Rice meal component. 

Fazer received several external recognitions, including the Swedish Food Award 2020 for Oat Rice, the Finnish Star Act 2020 award for the oat xylitol factory and the TuttiFrutti TikTok campaign winning Gold in the Finnish Comms Awards.