The farmers will benefit in several ways. “Refund” call it the farmers of the Central Switzerland milk producers (ZMP). Every spring, the 3100 members of the cooperative get their share of the Emmi-dividend. The ZMP is at 53 percent, the main shareholder of the largest Swiss milk processor. 25.6 million Swiss francs Emmi-dividend for the ZMP in April. Each cooperative member receives his share according to the milk delivered. On average, there was in earlier years, against 3600 francs. In addition, farmers receive a package with Emmi products. And then there is still every five years a big.
the commitment of the dairy farmers in the other Lucerne milk processors, the hochdorf group, less happy. The stock dropped sharply in value, and the company is in crisis. The ZMP maintains a subsidiary company of 14.5 percent on the stock exchange-listed company. High village produces mainly milk powder and baby food. “The company is for our farmers to be an important Partner,” says ZMP-managing Director Pirmin Furrer. In high village, large quantities are processed in the Central Switzerland milk; up to 30 tanker trucks deliver daily to the “white Gold” of the Region. After many regional milk and Cheese cooperatives were abolished, major customers such as Emmi and high-village for the ZMP to become farmers is essential.
DJ Bobo brought fantasy
Around a quarter of the country’s milk produced must be sold abroad. To export Swiss milk or milk products such as cream and Butter, not worth it. The recipe is called “finishing of premium products”. The only way to with Swiss milk abroad to earn money. How this works, shows the business model of Emmi.
looking back to the year 2004. DJ Bobo in person on that day in March on the Vespa hazards and the journalists Caffè Latte – the latest Emmi-product. The launch of cold coffee as a beverage is not without risk, major corporations have failed, but Emmi managed. Caffè Latte is a best seller, 150 million cups a year are sold in 15 countries.
a Caffè Latte, brought in 1993 by the ZMP-founded Emmi the necessary growth fantasy. Emmi planned in 2004 with the IPO. On 7. December of the same year, the share was traded for the first time on the Swiss stock exchange, at a price of 108 Swiss francs. Emmi achieved in 2003 a sales volume of almost 2 billion Swiss francs and an operating profit of 120 million Swiss francs. Today, the sales of 3.4 billion, the operating profit amounts to 217 million. The share price has increased eightfold since the company’s IPO.
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This success story was also appointed to the high village-the Board of Directors before his eyes, as he in the summer of 2013, Thomas eisenring to be the new chief Executive officer. “We need to make it similar to Emmi,” said iron ring to the “Neue Luzerner Zeitung”. High village was listed for a good two years on the SIX Swiss exchange and for investors is not a good business. The stock on the first day of the SIX for 114 Swiss francs; as the iron ring took over, hovering around you at 80 francs.
farmers want to expand the influence of
In the case of high village, you set a goal, such as Emmi successfully abroad. To Emmi, for example, dairies in the United States or yoghurt producers in Spain today. Emmi does not sell abroad only to cheese from Switzerland, but also produces food with foreign milk. The group’s brands, such as cold Creek cheese, Aktifit or Energy Milk. Emmi invests a lot into Marketing, premium products that promise greater margins.High village is, however, almost exclusively in the business customer sector (Business-to-Business). The companies in the food industry – especially the chocolate manufacturers of semi – finished products, such as milk powder. The Problem: low margins and low growth opportunities. Here, the Board of Directors was six years ago. With iron ring, the Tempo increased in the case of the hochdorf group, and the sails were set. Growth is to bring the “Baby-Care”. Hochdorf produces milk of different “premium products for Baby, children and Mama-food”. In 2012, the village wrote to a high of nearly 350 million Swiss francs in revenue, 72 percent came from the milk derivatives business (such as milk powder), 20 percent from the division of Baby Care.
The participation of the major customer Pharmalys brought to the high village no luck. Sales of which broke.
the iron ring, built the capacity, acquired companies abroad, and founded a chocolate manufacturer in South Africa. A capital increase brought in new money. The big breakthrough came when the village with the purchase of a 51 percent in Baar ZG-domiciled Pharmalys planned. This distributes the baby food of Hochdorf in the lucrative growth markets of North Africa and Middle East countries. Alone in Egypt, 2.5 million babies every year. Over the previous customers Pharmalys village received a high-direct access to the end customer. Iron ring explained that the operating profit margin could be doubled. It was in 2016 at 4.5 percent.
The investors, the strategy well-liked. The high village-stock took off, climbed to 340 francs. But the figures soon showed a different picture. The new daughter Pharmalys, sales slumped in the first half of 2018, the payment behavior of foreign customers to create high-village. The Pharmalys-purchase was, in retrospect, too expensive. At the same time, the company fought in some of the works with Overcapacity and losses, and in China, increased sales. High village came to an end in 2018, two profit warnings. The share price fell significantly.
Patient farmers
How bad is the business of the dairy specialist, in the morning, when high, the village presents the result for the year 2018. Group chief iron ring is not present the Numbers, he resigned last week, effective immediately. The pressure of the shareholders was too great. Most of the milk producers company ZMP fights.
The dairy farmers have lost confidence in the Board of Directors and the management Board, as managing Director, Furrer says. You are asking for a renewal. The Board of Directors of sass so far, no ZMP representatives. Dairy farmers propose three new Board members. Bernhard Merki, former head of the window factory 4B and the Board of Directors of Ems-Chemie will take over the Bureau. More Ex-Emmi-chief financial officer Jörg Riboni and ZMP-Vice-President Markus buehlmann to move into the body.
The village Board is in favour of a renewal of the body. From the proposed candidate is recommended, but only the former Emmi-man Jörg Riboni. The parties do not agree it to the General Assembly of 12. April for Showdown.
restructuring instead of increasing margins – high village on pushing the dairy farmers sour. Nevertheless, the ZMP holds the participation. “Emmi, everything went in the first few years are not always round,” said Furrer. Emmi surprised 2008 its investors with a profit warning, the share price fell significantly. “Hold out was worth it,” says Furrer. “We ZMP farmers think in the long term.” Clearly, the development of the share price was ugly. “We are, therefore, but do not be nervous and want to contribute to bring the company back on its feet.”
(editing Tamedia)
Created: 17.03.2019, 23:31 PM
