The next generation of food
Flora Food Group
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Abstract: The year 2024 marked a defining moment for our company as we embraced our new identity as Flora Food Group, reflecting a comprehensive transformation journey that has positioned us to drive sustainable growth over the long term. Financial performance and strategic progress Our performance this year demonstrates the strength of our strategy, delivering an inflection in our volumes alongside healthy EBITDA growth. This financial discipline, coupled with our strong cash generation and scale, provides us the flexibility to continue driving our competitiveness and investment in our brands and innovation. Our portfolio of iconic brands continues to offer consumers compelling choice across four vast and growing categories ? dairy-alternatives to butters and spreads, creams, culinary and cheeses ? in the 100+ markets where we operate. The stabilisation and growth in our spreads business, alongside ongoing momentum in our newer categories, demonstrates the progress we are making in delivering the next generation of delicious, natural, nutritious food, which is more affordable and more sustainable. Innovation, growth and collaboration Leveraging our 150+ years of heritage and deep R&D expertise, we continued to strengthen our innovation capabilities in 2024. Our groundbreaking paper packaging innovation earned the prestigious World Sustainability Award, demonstrating our commitment to sustainable solutions. We hosted the second Future of Food conference in Wageningen, bringing together industry leaders to accelerate development in sustainable food. The acquisition of our Kansas Creams facility, set to open later in 2025, underscores our commitment to growing our business in North America. The strategic investment in our USA facility represents a significant step in our growth strategy, allowing us to service the USA and American markets locally and accelerate our creams, culinary and cheese agenda. This capability enhancement, combined with our disciplined promotion strategies and targeted innovations, positions us well despite the cautious consumer environment and competitive backdrop we face in many of our markets. Recognition through purpose The passion and dedication of our Flora Foodies worldwide drove excellent progress and widespread recognition throughout this pivotal year. Our strong culture continues to attract talented individuals committed to our mission, and we achieved the highest entry score in the Access to Nutrition initiative (ATNi) index, validating our commitment to delivering nutritious, sustainable food choices. Looking ahead Worldwide megatrends ? including population growth, increasing demand for dairy alternatives, product innovation and climate action ? will, I believe, continue to drive demand for our products. We are uniquely positioned to capture value from these trends, with our portfolio of delicious and affordable products that give consumers the ability to enjoy the foods they love, while offering better health outcomes compared to dairy equivalents. As we look forward, I?m energised by the opportunities ahead. The fundamentals across our categories remain healthy, the opportunity in front of us is vast and, while the path forward may not be linear across all categories and markets, our agility and focus on executional excellence will drive sustainable growth.