SAVENCIA

2023 annual sales

Thursday 8 February 2024

PRESS RELEASE: 2023 annual sales

Reported sales growth of +3.7% over the year 2023, despite a decline of -3.7% in the fourth quarter

Consolidated data in €M €	YTD Dec. 2023	% Sales	YTD Dec. 2022	% Sales	Changes in %
					Total	Structure	Change	Organic
Sales - Cheese Products - Others Dairy Products	6 791 4 079 2 923	60.1 43.0	6 551 3 821 2 928	58.3 44.7	3.7 6.8 -0.2	2.1 0.0 5.1	-10.0 -1.2 -22.3	11.6 8.0 17.0
- Unallocated (Intra-Group transactions)	-211	-3.1	-198	-3.0	6.6	0.2	-14.4	20.8

Definitions and calculation methods for aggregates such as structural effects, exchange rates, organic growth and net debt have not changed.
They are defined in the group financial report.

2023 Annual sales

After a final quarter down €67 million on 2022, at the end of December 31, 2023, Savencia Fromage & Dairy’s consolidated sales, at € 6,791 million, were up +3.7%. This increase of € 240 million is the result of strong organic growth of +11.6%, as well as a structural effect of +2.1% mainly due to the consolidation of Williner's activities from April 1^st, 2023. These elements were, however, impacted by a strongly negative change effect of -10%, mainly related to the devaluation of the Argentine peso accelerated in the fourth quarter and the evolution of the Chinese, Russian and North American currencies against the euro.