In 2020, we focused on the implementation of our strategy. Despite the exceptional circumstances in our operating environment brought on by the COVID-19 pandemic, our overall business performance was good, and we succeeded in achieving several significant milestones in our strategy, in which innovations and foodtech play an important role.

At the beginning of the year, we finalised the sale of Fazer Food Services enabling us to strongly focus on fast-moving consumer goods (FMCG). In the spring, Fazer Retail became part of Fazer Confectionery, allowing us to better use the cafés and shops to strengthen our consumer dialogue and to introduce novelties and other Fazer products.

In early 2020, we acquired 
Vuohelan Herkku, a Finnish company specialised in gluten-free baking. The acquisition made us one of the biggest players in the gluten-free bakery market in Finland. The integration of Kaslink, acquired in 2019, was completed.

The construction of our oat-based xylitol factory in Lahti, Finland proceeded, and production will start in 2021. Furthermore, we initiated a programme to invest in increasing our oat milling capacity in Lahti, Finland and 
Lidköping, Sweden. We made a further investment in Solar Foods and became the largest shareholder of this exciting foodtech company. 

In order to increase the efficiency of our operations, we made the decision to implement significant structural changes by transferring the production of our non-dairy products from Kaarina to the Koria factory and the production of xylitol pastilles and chewing gums from Karkkila to our Lappeenranta factory. The transformation initiatives in Fazer Bakery Sweden and Fazer Bakery Russia progressed well and several efficiency improvement initiatives were carried out in functions and units across the Group. 

We sharpened our Consumer First approach and aligned our company values with our brand promise to be even more meaningful and relevant to the consumers. We embrace Northern Liberty, True Relationships and Fearless Creativity. Our vision, Towards Perfect Days, describes our shared direction. 

Fazer Group’s net sales remained stable at the previous year’s level and were 1,101 M€ in 2020, with Fazer Bakery reaching net sales of 548.6 M€, Fazer Confectionery of 400.1 M€, and Fazer Lifestyle Foods of 176.7 M€.